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Fannie and Freddie did not Cause the Financial Crisis
I missed this on my way out of town, but I wanted to steer people to this article by Joe Nocera of the New York Times.He writes about the workings of an ideologically-driven campaign to lay the entire...
View ArticleCordray Appointment Activates Full Powers Of New Consumer Bureau | Bloomberg
January 4, 2012 ... that suggest it will remain focused on improving disclosure for mortgages, credit cards and student loans -- the major sources of credit for most Americans, said Reid Cramer,...
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New Series: Creating a Financial Stake in College
The Asset Building Program and the Center for Social Development at Washington University in St. Louis (CSD) are pleased to publish a series of reports collectively titled "Creating a Financial Stake...
View ArticleNew America Foundation Commends Appointment of Richard Cordray
January 5, 2012 The New America Foundation's Asset Building Program today commended President Obama’s recess appointment of Consumer Financial Protection Bureau (CFPB), former Ohio Attorney General...
View ArticleNEW REPORT: Children's Savings Vital to College Success
Children With Savings Accounts Are 6 Times More Likely to Attend College January 5, 2012 Today, the New America Foundation and the Center for Social Development at Washington University in St. Louis...
View ArticleCordray Has Received Bipartisan Support
January 6, 2012 Reid Cramer January 6, 2012 The CFPB is the law of the land. The agency was created last year when the Dodd-Frank Wall Street Reform and Consumer Protection Act was passed by Congress...
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The CFPB is the Law of the Land
US News and World Report and their Debate Club feature asked if the recess appointment of Richard Cordray to head up the new Consumer Financial Protection Bureau was constitution. Here’s my take:The...
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What Obama Missed?
President Obama used his State of the Union address to argue that rising levels of inequality are undercutting the promise of America. He said “we can either settle for a country where a shrinking...
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Lowering Mortgages Payments Inflated Due to Medical Bills
Below is guest post written by a friend of the Asset Building Program, Mark Rukavina. Mark runs The Access Project and is one of the country's leding experts on medical debt and its debilitating...
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Newt Should Reconsider Plans to Privatize Social Security Along the Chilean...
Newt Gingrich doesn't shy away from taking dramatic policy positions. But he doesn't always stick with them. For instance, he no longer supports limiting carbon emissions through a system of cap and...
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Why Thrift Matters!
The rise of America’s debt culture has fueled impressive levels of consumption but proven to be unsustainable. Combined with poor oversight of risky credit products, including mortgages and credit...
View ArticleTo Limit Debt, Promote Savings
February 10, 2012 Reid Cramer William Elliott February 10, 2012 Student loan debt was a problem long before Occupy Wall Street protesters added it to their list of grievances. The recession hit the...
View ArticleIt's the Wealth Gap, Stupid
February 13, 2012 Why the truly alarming economic trend is not income inequality. Reid Cramer February 13, 2012 When Mitt Romney bowed to political pressure and released his 2010 tax return, it...
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To Limit Student Loan Debt, Try Savings
We know that student loan debt was a problem long before the Occupy Wall Street protesters added it to their list of grievances. The recession has hit the younger end of the workforce particularly...
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Future Inequality will be Driven by the Wealth Gap
Last week, Mother Jones ran an article I wrote on the growing wealth gap. It opens with a closer look at the Romney’s tax return, which shows not that they “make” a lot of money but that they “have” a...
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Returning to the Nest Has Costs
Has the Great Recession changed the way we live? Given the severity of the economic downturn and the slow recovery, it’s a good question to ask. The experience has certainly given pause to those...
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Credit Unions are on the Rise
The LA Times has an article out detailing the rising popularity of Credit Unions. These are the not-so-flashy financial institutions that strive to provide basic and affordable financial services to...
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Community Banking Districts can create a Lending Pool for Local Businesses
One of the largest obstacles to a robust recovery in the post-Great Recession world is access to capital for aspiring small businesses. Unfortunately, affordable and reliable credit has continued to be...
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How the Rich Get Richer
Over the last several years, we’ve taken a long look at the state of inequality in America and its changing dynamics. While many focus on the distribution of income, I think it’s instructive to also...
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The Assets Report 2012
An Assessment of the Federal “Asset-Building” Budget April 11, 2012 Reid Cramer Rachel Black Justin King The Assets Report 2012 is an annual analysis of federal support for asset building policies....
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