Developing Affordable Housing Ecosystems World Wide
William Poole, president of the Federal Reserve Bank of St. Louis — and thus, a man who knows whereof he speaks — has written a truly fantastic article (Adobe Acrobat) — clear, concise, even-handed, and devastating in its dispassion — on GSE systemic risks. Why? As he says:
1. Investors should be aware of these risks.
2. [...]
As expected, HUD Secretary Alphonso Jackson got a hostile reception at the House’s March 8 hearing on moving and cutting CDBG:
Lawmakers from both parties yesterday strongly criticized the Bush administration’s proposal to eliminate the $ 4.7 billion Community Development Block Grant program and replace it and 17 other programs with a new $ 3.7 billion [...]
One should never judge by anecdotes, I know, but it’s hard to defend public housing when there are stories like this one:
DURHAM — Durham Housing Authority officials ignored federal open-bidding laws for years, steering millions of dollars to a handful of local businessmen.
“This is another fine mess you’ve gotten us into!”
The News & Observer [...]
From the wolf you know — James Wolfensohn, Australian-turned-American charismatic controversial retiring head of the World Bank — to the wolf you think you know. The Administration has nominated Paul Wolfowitz, whom many have demonized as a crypto-neocon warmonger, and about whom many are predictably already crying wolf.
One wolf, or another, I’m gonna find you—I’m [...]
Via the New York Sunday Times (subscription may be required) comes another tale of urban pioneering and the power of markets:
In the early 1970’s, when Ranne Warner and her husband, Ray, lived in New York City, they were among the very few to call TriBeCa their home. Far from the chi-chi, coveted enclave it is [...]
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