Is No-Fee, No-Penalty Banking the Future of California? | Allen Matkins


Last month, Governor Newsom signed AB 1177, the California Public Banking Act. The title of the law is more impressive than precise, because it does not actually create a public bank. Rather, the law requires the treasurer to convene a “Blue Ribbon Commission” which would contract to perform market analysis to determine whether it is possible to implement a “CalAccount program”. The program would be required to provide “Californians with access to a federally insured, no-fee, penalty-free transaction account known as CalAccount.” Of course, there are no lunches. free and it starts with the Commission itself, just to summon the Commission and contract for the market research.

Ivy day (Lá an Eidhneáin)

Today marks the anniversary of Charles Stewart Parnell’s death in 1891. Parnell was a member of the British Parliament from 1875 to 1891. Although born into the class of Anglo-Irish landowners, Parnell has become a popular advocate of the Irish autonomy. Parnell’s political “fall” came when his affair with a married woman, Katherine O’Shea, was made public. His funeral at Glasnevin Cemetery in Dublin was one of the largest ever. His death continues to be commemorated each year. The event became known as “Ivy Day” in reference to the ivy sprigs worn by the Parnellites.

James Joyce has frequently referred to Parnell in his writings, including a short story titled “Ivy Day in the Committee Room” which appears in Dubliners. In the story, one of the characters, Mr. Hynes, recites a hymn to Parnell which begins:

He is dead. Our king without a crown is dead.
O, Erin, cry of sorrow and misfortune
For he lies dead, brought down by the relentless play of modern hypocrites.

Glasnevin Cemetery, Dublin, Ireland

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