To: Mayor Eric Garcetti, CAO Miguel Santana
Fund Our Streets, Not Wall Street!
Stop giving away $204 million per year in hidden fees to Wall Street and instead invest our City tax dollars in fixing our streets, filling potholes, cleaning alleys and restoring services such as parks and libraries.
Why is this important?
A new and growing coalition called "Fix LA" just released an unprecedented report that reveals that the CIty of Los Angeles is giving away more than $200 million in fees annually (not including any principal or interest) to big banks and financial institutions. Our neighborhoods are being neglected because of relentless budget cuts at City Hall. It is time for LA to restore City services and to stop Wall Street from gouging our community. See the LA Times story about the issue here: http://articles.latimes.com/2014/mar/24/local/la-me-unions-bank-costs-20140325