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Bank Notes

Adam Rust's picture

Posted February 24, 2011

Finance leader speaks to payday lenders: Rep. Patrick McHenry (R-NC) will be the keynote speaker for next week's Community Financial Services Association (CFSA) in Hollywood, Florida. The meeting includes sessions "Exit/Transition planning for the privately held payday lender"," and "Tribal Lending: Implications of the new Colorado Supreme Court Opinion." McHenry is chairing a Congressional committee that will establish means for more oversight of TARP. Sustaining members of CFSA can reserve a space at the meeting for $400,000.

More Income Inequality with Town and Gown: There seem to be two types of areas where there is

the greatest divergence in incomes. A few come from areas where there are many households working in financial services. Fairfield and Stamford MSAs in Connecticut have the greatest disparities in the continental United States. But after that, the top 20 includes many of the emerging centers of academic and technology transfer: Orange County, NC (UNC-Chapel Hill), College Station, Texas (Texas A&M), Gainesville, FL (U of F), Lawrence, Kansas (Univ. of Kansas), Ithaca, NY (Cornell) and Durham, NC (Duke).

The logic that our creative centers are the locus of income inequality could be strengthened by examining where incomes are the most equivalent. The old economies, laden with legacies of Fordist firms, seem to share a bit better. Most are in medium sized towns in the Rust Belt and the Upper Midwest. It is places like Findlay and Ashtabula, Ohio or medium sized areas in upstate New York, Western PA, Indiana and Michigan.