On Nov 4, 2011, at 11:52 AM, Doug Henwood wrote:
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> On Nov 4, 2011, at 3:23 PM, Miles Jackson wrote:
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>> I will be the first to admit I'm naive about finance stuff, but why are the CUs just holding onto the money? Why not provide more attractive auto/home/small business loan terms and get the money out in the community where it will do some good? Sorry if I sound like George Bailey, but doesn't it defeat the purpose of credit unions if they just hold onto the money?
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> Because they have no place "in the community" to invest the money safely and profitably.
Would you choose to alter or revoke the community reinvestment act?
If it was my choice, I'd choose to have building codes, and building regulation and planning given a few year long moratorium, and find out if community building activity grows enough to absorb the relocated money.