New Orleans I have never been a huge fan of the widely touted claims of microlenders that small loans – debt by any definition – are a successful poverty reduction strategy. At best they are an “employment acquisition” scheme for some select people too often within the informal or home-based economy. At worst they are …
Month: April 2010
Terrorism in Arizona
New Orleans The dots have to be connected. Almost at the same time that the Arizona legislature goes virtually hate-crime with draconian anti-immigrant legislation prepared for the Governor’s signature, the federales under the Department of Homeland Security (DHS), headed by ex-Arizona Governor Janet Napolitano and her ICE-capades suit up 800 armed agents, helicopers, rolling stock …
Principal Reduction Versus Arrogant Banks
New Orleans From the day the latest foreclosure modification plan as announced several weeks ago, and it became clear that banks saw their participation as voluntary, I said this was not going to work. The government orchestrated immediate acceptance by their subsidiaries, Citi and Bank of America, but as surely as I predicted that was …