Friday’s Briefing: State Public Weed Bank Isn’t Feasible; Trump Threatens to Close Southern Border

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Stories you shouldn’t miss for Dec. 28, 2018:

1. California’s plan to create a public bank to serve cannabis businesses isn’t feasible, reports Sam Dean of the LA Times$, citing a new state-commissioned analysis. Weed businesses can’t use regular banks because marijuana remains illegal under federal law. But the report found that a state public bank is a dead end “because of the high legal risks and large amounts of capital that would be required to create a functioning bank.”

2. President Trump, who has already forced the shutdown of the federal government, is now threatening to close the southern border completely unless Congress agrees to earmark $5 billion for his controversial border wall, The New York Times$ reports. A closure of the southern border would severely harm California and the national economy.

3. Bay Area ferry ridership has swelled in recent years as commuters have increasingly sought alternatives to overflowing BART trains and jam-packed bridges, reports Rachel Swan of the San Francisco Chronicle$. “The Bay Area is now the third biggest market for ferries in the country behind Seattle and New York City.”

4. Alameda students are reacting positively to the district’s new relaxed dress code that allows them to wear hoodies, hats, “shorts of any length, spaghetti-strapped tank tops and ripped jeans, all of which were previously prohibited,” reports Peter Hegarty of the East Bay Times$. A recent survey of students also found that “about two-thirds of students who said they were publicly called out for a violation under the previous policy were girls.”

5. And freezing temperatures are expected to hit parts of the Bay Area tonight and this weekend, reports Gwendolyn Wu of the San Francisco Chronicle.

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