A consortium of news publishers wants federal regulators to update Community Reinvestment Act rules so banks do more to support minority-owned local journalism.
The report pushes policy in the right direction, but it stops short of action. The next step – selling stablecoin regulation to a divided Congress – could be much harder.
Essentially it boils down to a problem of money. Because of scant concern on the part of haves for housing affordability challenges faced by have-nots, relatively little political support exists for taxation needed to effectively address and solve affordable housing problems.
Economist Raj Chetty found the program has “the largest effect I’ve ever seen in a social science intervention.”
Minimum wage earners will rake in about $500 more per month.