Jacobin: "The Struggle for Rent Control"

In California’s fight over Proposition 10, it’s Wall Street versus the working class.

"Every month, tenants in more than 14,000 California rental properties fork over huge portions of their paychecks to Blackstone, a Wall Street asset-management company that’s notoriously reluctant to perform maintenance duties. This year, Blackstone has been throwing millions of dollars of that money into the fight against Proposition 10, a ballot measure that would pave the way for rent control across the state.

Or to put it another way: a massive corporation is using working people as ATMs, and then leveraging the money it extracts from them to purchase political influence, thus protecting its ability to continue wringing renters dry — all while rents skyrocket, the eviction and homelessness crises worsen, and the average working-class Californian’s standard of living plummets."

 

Click here to read more of Meagan Day's article.

 

y311ow // flickr

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  • Dean Preston
    published this page in News & Media 2019-02-21 09:49:05 -0800

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