Richmond Review/Sunset Beacon · September 24, 2026
Letter to the Editor: Prop. B, Let’s Not Approve the Next Scandal
Richie Greenberg writes that Prop B asks voters to trust City Hall with an unfunded bank, and that a public bank would not let residents open accounts.
A letter in the Richmond Review/Sunset Beacon urges a No vote on Prop B. Richie Greenberg argues City Hall should not be trusted to run a bank, and that the Municipal Finance Corporation is an open-ended scheme with a startup cost in the hundreds of millions.
The letter makes two points this committee keeps making: loan losses would land on taxpayers, and San Francisco already has housing, small-business, and climate tools that do not require a new bank. A public bank is not a place for neighbors to open a checking or savings account.
The ballot question is whether to approve the institution before the money, the reserves, or the product exist.
Original reporting: Richmond Review/Sunset Beacon.
All Prop B San Francisco news · What Prop B is
Vote No on Proposition B.