Housing

Posted November 24, 2008 by Linda Basch

Linda Basch: What three recommendations do you have for Timothy Geithner, our next Treasury Secretary?

Sara Gould: First, we must strongly urge that the next Secretary ensure that the $700 billion bailout and other actions designed to address the economic crisis prioritize getting relief to communities that need it most. It’s not enough to rely on support for large banks to trickle down to middle and low-income people who are disproportionately affected by the plummeting economy—particularly when the banks’ share of the bailout came with few regulations and the conditions it did come with are being defied (see Naomi Klein’s article in The Nation).  Instead, the next Treasury Secretary should require that financial institutions use the bailout money for lending to consumers—instead of to boost the value of its shares. In addition to accountability and comprehensive regulations that apply to bailed-out banks and beyond, s/he should insist upon transparency and reveal exactly where the money is going and how it is being used. It is especially critical that the bailout money be used to help people who are facing or already in foreclosure—the majority of whom are likely women and people of color, as they were most likely to receive sub-prime loans in the first place. One promising option is to support FDIC chairperson Sheila Bair’s proposal to use $25 billion of the bailout to provide mortgage relief to homeowners. Her proposal would offer incentives to loan servicers to restructure mortgages, making payments more affordable. Second, an economic stimulus should be passed quickly. It should include immediate relief such as the extension of unemployment benefits as well as programs like job creation and training that will ensure economic stability for low- and middle-income people over the long-term. Any economic stimulus package should be sure to address the urgent needs of those who have been most impacted by the crisis, especially low-income women, women of color and their families. Recent statistics show that women are losing jobs at twice the rate of men. Third, we must return to a system of progressive taxation in which people with high incomes and net worth provide a larger share of tax revenues. New revenue should go towards domestic stimulus programs such as job training and infrastructure rebuilding as well as for key social and economic supports that have been eroded over the last two decades.

November 7, 2008 posted by Linda Basch A new administration, the cap to a long and exciting election campaign, and change is in the air. We have much hope, but we also have big issues to tackle.  The economic crisis brings particular urgency to the issues foremost on our minds.  At the Council, we've been talking about economic security, but now we need to talk about economic recovery  and the ways women are particularly affected.  Women are more likely to be in foreclosure and hold sub-prime mortgages (32% more likely than men despite better credit scores), more likely to be poor, to be earning minimum wage (68.4% nationally), and to lack adequate health insurance.  These challenges are not unique to women, they affect families, communities, and the entire nation.

November 5, 2008 posted by Vivienne Heston-Demirel Apologies for audio problems. It is 7:30 and we are going LIVE.

7:27pm

Michelle Goldberg - journalist/author, specialized in ideology and politics - said she was optimistic but that there were a few dark clouds, namely, anti-gay ballot initiatives that passed in California, Florida, Arizona (anti-gay marriage), and Arkansas (anti-gay adoption). All of the anti-choice initiatives failed. There is a potential for extreme right-wing terrorism, including attacks on abortion providers.

7:45pm

Andrea Batista Schlesinger - Executive Director, Drum Major Institute for Public Policy - just concluded her opening statements.

7:48pm

October 31, 2008 Posted by Linda Basch

Below is my exchange with Susan W. Kaufmann, Associate Director for Advocacy at the University of Michigan Center for the Education of Women, where she addresses issues important to women through research and action.  She holds an MS in environmental advocacy from the University of Michigan.

Linda Basch: What are the key issues facing women in your state?