The mayor included the Catalyst Investment Fund, which is the brainchild of city Treasurer Kurt Summers, in his 2017 budget. Summers likes to call it Fund 77 — a reference to the number of official city neighborhoods.

Comment: This is a big mistake. The money will be politicized and much of it lost. Summers said he expects a good return on the investments.  Summers said, “It’s not there’s additional real risk. It’s that there’s additional perceived risk.” Nonsense. There are sound reasons why the money is not already going there.

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4 years ago

The start of socialized banking?