One of the two biggest cities in America, Los Angeles, is making drastic decisions despite the financial crisis in California. In what appears the government getting out of the way, Mayor Brown’s planning committee approved a $1.2 billion football stadium. Moreover, the mayor stated that it would be mostly privately funded. But does LA have a team? Ed Butowsky, wealth manager, financial advisor, and managing partner of Chapwood Investment Management, joins Fox Business’ Varney & Company to discuss California’s lack of austerity measures and why they keep spending money they do not have.
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Ed Butowsky is the managing partner of Chapwood Investment Management and is an internationally recognized expert in the investment wealth management industry. Ed is also a frequent guest on other networks such as CNN, NBC, ABC, Fox News, Fox Business, and Bloomberg to name a few.
Tags: austerity, california, economic crisis, ed butowsky, financial advisor, football stadium, fox business, investment, mayor brown, money, wealth manager