Eric Weaver

Where federal banking money should go

If the treasury can pour $700 billion into corporations, surely it can and should inject $5 billion or $10 billion into CDFIs

OPINION The federal government is shelling out hundreds of billions of dollars to prop up failing financial institutions, with no end in sight. Taxpayer money is going to commercial banks and insurance companies that took outsized risks and participated in extraordinarily complex financial transactions, motivated by no purpose beyond the hunger for profits. They were allowed to engage in this destructive behavior despite being among the most heavily regulated companies on earth. Read more »