New Orleans After several campaigns almost yielded victories around Canada, ACORN Canada in British Columbia broke through in New Westminster with a stunning, unanimous vote to win the first living wage policy for any governmental jurisdiction in the country. Perhaps as remarkable was the adoption of a top tier wage and benefits level to one …
Category: Financial Justice
Predatory Microlending Schemes
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 …
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 …