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Issue of June 9, 2003 |     |
Hunting for the TruthAt a recent hearing before the Legislature’s Banks and Banking Committee to consider a number of predatory lending bills, Rep. John Quinn, committee co-chairman, asked those who had gathered to offer testimony what any good problem-solver should before endorsing a proposed remedy: please define the problem. Securing Funds It isn’t often that loyal Democrats such as Sen. Edward M. Kennedy and Boston Mayor Thomas M. Menino align themselves with the Republican administrations of President Bush and Gov. Mitt Romney. Whenever the two sides are on the same page, it’s a truly memorable occasion. Consensus for Regulatory Reform Recently, a few blocks from Capital Hill, a small group of volunteers, CEOs and trade professionals from Massachusetts, Rhode Island and New Hampshire credit unions met with congressional leaders to discuss consideration of H.R. 1375, The Financial Services Regulatory Relief Act. This bill was introduced to update and address outdated regulatory constraints affecting banks, savings associations and credit unions. Bracing for Redevelopment Challenges With Historic Buildings In recent years, more people have moved into city centers such as Boston to trade in their car-centric suburban life for a more pedestrian-friendly life in the city. Soaring property costs, compounded by the lack of open space in most urban centers, has limited new construction needed to meet the increased housing demand. Time to Get Real About Synthetic Leases By William Goade and Jim Leslie “Enronitis” is no longer a new corporate disease. But the after-effects of financial scandals involving Enron, Global Crossing and others continue to have dramatic consequences for area companies. Why? As a result of these corporate debacles, the Financial Accounting Standards Board has issued new regulations that require companies to restructure billions of dollars of off-balance-sheet transactions, including synthetic leases, by June 15. Check & Balance Banker & Tradesman's political Cartoon |
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