Posts

Showing posts from March, 2017

The First Bank Failure of 2008. US News and World Report. 1/28/2008

Image
The First Bank Failure of 2008. Luke Mullins. US News and World Report.
Bad commercial real estate loans sink a small financial institution in Kansas City.

A tiny bank in Kansas City, Mo., has become the first bank in the country to fail this year—but it's
unlikely to be the last.

Federal regulators on Friday shuttered Douglass National Bank, an African American owned
bank with $59 million in assets that was named in honor of the 19th century abolitionist Frederick Douglass. The bank, which has roots stretching back to the 1940s, had struggled of late, losing $1.3 million in 2007 and $4.3 million in 2006.

Although its recent losses were tied to bad commercial real estate loans, not residential mortgages, the bank's problems are nonetheless linked to the global mortgage crisis that has ripped through the financial services industry, says William Michael Cunningham of Creative Investment Research. "It's this secondary and tertiary impact of the crisis in the subprime mar…

Business under Trump

Image
We recently gave a talk to the Greater Houston Black Chamber (GHBC), at their monthly Business Luncheon “2nd Tuesday with the Chamber” on for February 14, 2017. The link at left is to a video of the discussion. I described the current economic environment for black businesses in Houston and provided a forecast for 2017. 

"Founded in 1935 as the city’s first African -American civic organization, the GHBC has evolved into an active participant in the City of Houston’s socioeconomic process. The organization is a 501(c) (6), not-for-profit, private, member-driven organization that serves the Greater Houston Area.  The GHBC is dedicated to supporting African-American small businesses in the areas of education, certification and accessing contracting opportunities and capital."

See: https://youtu.be/toYeng7PlRQ

​Taming​ ​the​ ​Tax​ ​Code - Brendan Cody, GWU student and Impact Investing Intern

Image
Tax​ ​reform​ ​will​ ​continue​ ​to​ ​be​ ​a​ ​major​ ​issue​ ​over​ ​the​ ​next​ ​several​ ​months. Both​ ​Congress​ ​and
President​ ​Trump​ ​have​ ​expressed​ ​a​ ​strong​ ​interest​ ​in​ ​reform.​ ​

A ​panel​ at George Washington University titled ​“A​ ​General​ ​Perspective on​ ​Taming​ ​the​ ​Tax​ ​Code:​ ​What​ ​Yesterday’s​ ​Reformers​ ​Can​ ​Teach​ ​Today’s​ ​Reformers”​ ​provided great​ ​insight​ ​into​ ​the​ ​methods​ ​and​ ​issues​ ​of​ ​reform​ ​from​ ​the​ ​perspective​ ​of​ ​the​ ​House​ ​Ways​ ​and Means​ ​Committee.

​Bill​ ​Archer(R-TX)​ ​and Charlie​ ​Rangel(D-NY)​ ​are​ ​both​ ​former​ ​committee​ ​chairmen​ ​and ​were​ ​members​ ​of​ ​​Ways and Means in 1986 when​ ​the​ ​tax​ ​code​ ​was​ ​last​ ​reformed​.​

​Rangel​ ​emphasized​ ​the​ ​importance​ ​of​ ​the​ ​president in​ ​getting​ ​tax​ ​reform,​ ​specifically noting ​that the​ ​President’s​ ​ability​ ​to​ ​inspire​ ​confidence​ ​among​ ​the​ ​public​ ​and​ ​the Congress​ ​can​ ​be​ ​decisive​ ​in​ ​the​ ​fate​…