Ownership & Assets: All Articles and Books

Turn America into a Nation of Savers

Erin Drankoski — Mon, 09 Nov 2009 10:26:00 -0500

In pursuit of an economic recovery, President Obama has argued that we must transition from an "era of borrow-and-spend to one where we save and invest." It is an appealing concept, especially as the disappearance of surplus assets and historic levels of debt helped transform a garden-variety business cycle recession into a historic collapse.

But how does the saving and investing square with high levels of government borrowing and spending to stimulate the economy, protect those thrown out of work, and prop up consumer demand?

How Microloans Change the Lives of Millions

Erin Drankoski — Mon, 26 Oct 2009 10:30:00 -0400

A recent op-ed in the Boston Globe argues that microlending "doesn't actually do much to fight poverty" and that it may be time to "think macro rather than micro." Maybe the hype surrounding microcredit as a panacea for everything from poverty to discrimination is undeserved. But debunking the whole bottom-up, micro approach on the basis of two unpublished papers is not just premature, but dangerous. Macro, trickle-down development policies have rather effectively kept billions of people poor

We Need to Fix How We Measure Poverty

Erin Drankoski — Tue, 13 Oct 2009 11:19:00 -0400

From climate change to redistricting, New York City Mayor Michael Bloomberg and Gov. Arnold Schwarzenegger have teamed up on a number of issues. It's time to add another to the list -- updating the antiquated and misleading way we measure poverty.

It may seem like an odd concern for the Republican duo. But Bloomberg took the lead on the issue last year when conditions in New York City were similar to those California faces today: The economy was down; need was rising; and public resources were constrained.

Meet the Hazzards

Erin Drankoski — Mon, 12 Oct 2009 08:46:00 -0400

As we mark the end of the first year of the financial bailout, the public seems to regard the government's actions with a toxic combination of rage and confusion. People are pissed off but too bewildered to know what to do with that anger. The confusion isn't an accident. The government hasn't exactly been forthcoming about how it's made buckets of money available to the banking sector. When it does disclose some information--such as in July's SIGTARP report from the Treasury or the Federal Reserve's weekly balance sheet--it's in the form of intimidating

Penny Pincher

Erin Drankoski — Thu, 08 Oct 2009 08:41:00 -0400

I have a confession: I love my huge television. A couple of years ago, thanks to a very large Amazon.com gift certificate and a very poor grasp of measurements, I adopted a 50-inch plasma. It utterly dominated my tiny living room until I finally moved, yet even then I loved it. The vivid colors and enormous crystal-clear picture were a worthy substitute for the cinema. Video games were even better -- and "Blade Runner" on Blu-ray was sublime. It ended up being a very costly purchase, what with shipping and the

After Oppenheimer: Improving College Savings Plans

Erin Drankoski — Tue, 08 Sep 2009 11:19:00 -0400

After their children's college savings accounts lost 38 percent of their value last year, some Illinois parents might be seeing some justice soon. The Illinois Treasurer's office recently reached a tentative deal with Oppenheimer funds to recover $77 million of the $85 million in losses.

Self-Sufficiency Stalled

Cecille Isidro — Sat, 13 Jun 2009 07:57:00 -0400

Given the demonstrated link between transportation and employment, wouldn’t it be counterproductive to force families to surrender or downgrade their car in order to be eligible for assistance?

This recession marks the first time since welfare reform that policymakers are revisiting the social safety net.

Yet when thousands of families are struggling to find and keep employment, some on Beacon Hill threatened to cut the one tool proven effective in moving families from welfare to work: a car.

Combating Poverty by Building Assets

Cecille Isidro — Mon, 01 Jun 2009 08:07:00 -0400

A child in Uganda, orphaned when his parents died of AI DS, is off the streets and avoiding AI DS himself by saving money for secondary school with the support of the innovative Suubi project, which provides poor children with Child Development Accounts. In China's western Xinjiang region, a poor rural farmer sees his "dead," or untouchable, pension savings become "live," or usable income-producing assets, thanks to the work of a visionary local government bureaucrat.

New Ideas For Strengthening Federal Rental Assistance

Cecille Isidro — Thu, 14 May 2009 07:05:00 -0400

PODCAST: A New Approach to Global Poverty Reduction-- Savings-Linked CCTs

Kate Schuler — Mon, 11 May 2009 11:39:00 -0400

'FinancialCorps' Would Fill Big Need

Cecille Isidro — Fri, 17 Apr 2009 13:30:00 -0400

A bill to dramatically increase national service by expanding AmeriCorps hits President Obama's desk soon. While he's at it, we hope he will consider creating a different kind of corps -- a volunteer financial services corps to put quality financial advice within the reach of every American.

Traditional Lending Goes Mainstream

Cecille Isidro — Wed, 08 Apr 2009 08:35:00 -0400

A whopping 44 percent of Mission District residents don't have low credit scores. They have NO credit scores. Without them, the only loans they can get are the loans no one wants - those with pricey interest rates and harsh terms. And if doors to affordable credit seemed closed to these consumers before the financial meltdown, they're slammed shut now.

Traditional Lending Goes Mainstream

Cecille Isidro — Wed, 08 Apr 2009 07:35:00 -0400

The Next Progressive Era

Cecille Isidro — Wed, 01 Apr 2009 18:00:00 -0400

The Next Progressive Era provides a blueprint for a re-empowered progressive movement and describes its implications for American families, work, health, food, and savings.

What the Poor Can Teach the Rich at G-20

Cecille Isidro — Wed, 01 Apr 2009 11:15:00 -0400

This week's G-20 summit is essentially an echo chamber for the world's wealthy to talk macrofinance. The world economy might rebound more quickly if they listen to what the poor have to say about microfinance.

Learning from the Past

Cecille Isidro — Wed, 01 Apr 2009 11:07:00 -0400

While there is little to celebrate in the current foreclosure disaster, one potential silver lining in the large number of bank-owned properties is the opportunity to turn those properties into community assets. A May 2008 conference hosted by the Furman Center for Real Estate and Urban Policy at New York University and sponsored by the Ford Foundation brought together policy experts and practitioners to share best practices for “Transforming Foreclosed Properties into Community Assets.” Most of the discussion focused on what can be done by partners working together at

How Judges Might Help Troubled Homeowners

Cecille Isidro — Tue, 31 Mar 2009 10:37:00 -0400

Remember fieldtrips? All 535 members of Congress should take one this week to Room 675 of the County Courthouse in Philadelphia. Doing so would bust some myths surrounding the "cram down" legislation – now stalled in the Senate – that would allow bankruptcy judges to reduce payments on troubled mortgages.

Save More for Yourself and America

Cecille Isidro — Wed, 18 Mar 2009 14:12:00 -0400

As the economy slows, millions of Americans will cut their budgets to stay afloat. This generates conflicting impulses: If I skip that morning coffee and granola, will my thriftiness put my local coffee shop out of business?

Will that force America's granola farmers to lay off workers? What's a budget-conscious, patriotic and hungry girl to do?

Not to worry, saving a few dollars now will not prolong the recession. And, more important, spending all your discretionary income will not end the recession.

PODCAST: Savings Made Easy -- Perfect for Tough Times

Kate Schuler — Wed, 11 Mar 2009 14:13:00 -0400

The End of the Ownership Society?

Cecille Isidro — Mon, 16 Feb 2009 10:08:00 -0500

In his second inaugural address, President Bush offered a vision of an "ownership society"