Academics

Academics

Cry Wolf Quotes

The problem with the Community Reinvestment Act is not its goals but its vagueness and ambiguity that have led to a nightmare of documentation, paperwork and formalized process that diverts bankers' time and bank resources from being utilized to serve our communities… we need to build a system of supervision and enforcement that encourages creativity and substance in community reinvestment lending.

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Michael K. Guttau, National Mortgage News

Be prepared for the creation of an intrusive bureaucracy to police the ordinance by examining the books and payroll ledgers of businesses…

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Randy Hamilton professor at the University of California, Berkeley. Oakland Tribune.
11/24/1997 | Full Details | Law(s): Living Wage

There is no evidence of significant discrimination in mortgage lending.

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George J. Bentson, a specialist in financial regulation at Emory University. New York Times.

These teenagers [that drop out of school to take the higher wage jobs] take jobs that would go to unskilled adults, making it harder for those adults to make the transition from welfare to work.

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N. Gregory Mankiw, The Boston Globe.
06/24/2001 | Full Details | Law(s): Living Wage