How Banks Kill the American Dream and Risk Economic Nuclear Meltdown

How do you kill the American dream? One way is to finance people in over their heads, in essence creating debtors out of hard-working people who, in a more sane economy, would be accruing assets. It appears we are ready to go down the path of deregulation again all too quickly. From the New York Times:

“Financial deregulation is similar to relaxing rules on nuclear power plants,” argue Anton Korinek of Johns Hopkins University and Jonathan Kreamer of the University of Maryland in a related working paper for the Bank for International Settlements. It makes it easier and more profitable for the utilities, their shareholders and executives. It might also help ordinary Americans get cheaper electricity. “However, it comes at a heightened risk of nuclear meltdowns that impose massive negative externalities on the rest of society.”

Read more at More Renters, Less Risk for Wall St. – NYTimes.com.

And, for a first-hand account of what it feels like to be ripped off by an unscrupulous bank: http://www.rifuture.org/the-mortgage-debt-crisis-murders-the-american-dream.html

What Did This Scholar Learn From His Deep Dive Into the World of Billionaires? – Inside Philanthropy: Fundraising Intelligence – Inside Philanthropy

We write about billionaires and their philanthropy almost every day here at IP, and so we’ve been intrigued by Darrell West’s new book, Billionaires: Reflections on the Upper Crust.

via What Did This Scholar Learn From His Deep Dive Into the World of Billionaires? – Inside Philanthropy: Fundraising Intelligence – Inside Philanthropy.

Why Did the Weinberg Foundation Help Revamp the Imperial Hotel in Atlanta? – Housing – Inside Philanthropy

Weinberg is a major ally for groups that support low-income and vulnerable populations, including in the housing arena. We look at why the foundation backed a supportive housing project that opened earlier this year.

Why Did the Weinberg Foundation Help Revamp the Imperial Hotel in Atlanta? – Housing – Inside Philanthropy.

Here’s a Leader on Wall Street Giving Grants to Spark Growth and Jobs on Main Street  – Workforce | Labor | Grants – Inside Philanthropy

JP Morgan Chase may have done its part to blow up the U.S. economy a few years back, thanks to irresponsible lending practices, but lately the company and its foundation has been giving big to foster economic growth and improve jobs skills.

via Here’s a Leader on Wall Street Giving Grants to Spark Growth and Jobs on Main Street  – Workforce | Labor | Grants – Inside Philanthropy.