Sunday, November 18, 2012

Tuesday November 27, 2012, 11 AM City Hall. Remind our City Council that they voted to end the swap without termination fees, and NO MORE BUSINESS with Goldman Sachs!

Please note the link to download the summary of negotiations between the City of Oakland financial bureaucrats and Goldman Sachs, with their recommendations to the city council:  
(Click on "View Supplemental Report.pdf")  

Basically they are looking for a way to keep paying money to GS through promissory notes, and adding that it would be worth the city's while to maintain good relations with GS – The bureaucrats have discussed GS' charitable investments in other places in the US (!) GS does not want to end the swap without Oakland having to pay millions of dollars in a termination penalty. This report will be presented to the City Council's Finance Committee on Tuesday, November 27 in City Hall's Mark Dunakin Room (first floor). The meeting begins at 11 am.

If you can please come and remind the City Council members that they voted unanimously to end the swap agreement with Goldman Sachs without paying any termination fees! And they ALSO voted unanimously to not do ANY more business with Goldman Sachs, if GS refuses to terminate the swap without requiring the termination fee.

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