Public Transit Growth is Nationwide


Public Transportation Blog

By: Darnell Grisby, Director of Policy Development and Research for the American Public Transportation Association (APTA)

As reported by many news outlets over the last two weeks, public transportation reached a new milestone in the United States in 2013. Ridership reached the highest level since 1957, representing shifting attitudes and public transportation’s increasing influence in daily life.
However, there are false assumptions that the recent growth in public transportation ridership occurred in New York City. Contrary to this inaccurate view, while New York City has lead the way, dissecting the ridership data shows that three categories of communities, also played a major role in national ridership growth.
The growth in public transportation has occurred across regions and city types. The Great Recession offered opportunities to reset behaviors and occurred during the rise of the Millennial Generation. Due to the combined shocks of economic dislocation and generational change, long lasting…

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So Fannie and Freddie Weren’t the Problem…


Populareconomicsblog

Popular Economics Weekly

We are learning just how much mortgage fraud was committed by 17 national and international banks and other financial entities that the Federal Housing Finance Authority (FHFA) originally sued to recover some $200 billion in losses to the GSEs that it regulates, Fannie Mae and Freddie Mac.

This tells us where the real faults lies for the credit bubble that led to the housing bubble. The once private stock corporations and now wards of the government, Fannie Mae and Freddie Mac, didn’t precipitate the housing bust. They weren’t even the main issuers of faulty mortgages that imploded with the Great Recession. It was the federally-supervised commercial banks themselves that misrepresented many of the mortgages it sold to Fannie and Freddie, thereby giving them the cover of AAA rated assets, when they were much closer to junk bond quality.

Fed Chairman Alan Greenspan had lowered short term interest…

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