Unintended consequences
Cry Wolf Quotes
I feel that the sponsors and endorsers of Bill 270 have been "taken in" by the spurious and irresponsible claims of its drafters. I very much fear that those drafters are motivated by a "zero-risk" philosophy which is impossible to achieve….Not only is it unnecessary, but attempting to achieve "zero-risk" can destroy business and commerce.
A higher minimum wage will trigger thousands of layoffs in lower-paying jobs, hurting, rather than helping, Ohioans who need higher wages the most.
The important question, however, is not the default rates on the mortgages made under the CRA. Whatever those rates might be, they were not sufficient to cause a worldwide financial crisis. Once these standards were relaxed--particularly allowing loan-to-value ratios higher than the 80 percent that had previously been the norm--they spread rapidly to the prime market and to subprime markets where loans were made by lenders other than insured banks.
Where we are headed for, you are not going to see those cool, little local restaurants. You are going to see a bunch of corporate restaurants, and the rest of the city is going to look like the restaurant dynamic on Fisherman’s Wharf.
