SF: Can We Sell It Short Yet?

Despite the litany of San Francisco problems--homelessness, crime, needles and human waste on the sidewalks, astronomical real estate prices, astronomical taxes, boulders in the streets, taxpayers leaving, empty storefronts, $billions of transportation over-runs, not to mention picking fights with the Federal Government over immigration and the environment--now activists want San Francisco to set up its own bank.

Advocates for a public bank in San Francisco are rejoicing over Gov. Gavin Newsom signing legislation that will allow them to create a local institution to finance priorities like low-income housing, public infrastructure and small businesses...

Supporters have pushed San Francisco officials for years to consider municipal banks as an alternative to traditional commercial institutions, whose interests prioritize creating value for their shareholders over benefiting the communities where they do business. But setting up a public bank will be a complicated, time-consuming and expensive process — it could take the city 10 to 30 years to break even. But supporters are undeterred by the hurdles.

San Francisco can't even adhere to basic standards of health and citizen safety that are met by towns across the U.S., and it thinks it has the expertise to set up a bank?

If only the City of San Francisco were a stock, I would sell short in a heartbeat.