The Ladder

The U.S. Department of Agriculture released its annual report about food security in the U.S. this morning. Food security is defined as the ability to access enough food at all times for an active, healthy life. In 2010, 17.2 million U.S. households were designated food insecure, meaning that last year they had difficulty providing enough food for all family members due to constrained resources.

Richard Cordray is headed to the Senate Banking Committee this afternoon for hearings on his nomination to be chief of the Consumer Financial Protection Bureau. Politico says that there could well be some fireworks at the nomination hearing.

On August 12, 2011, the Asset Building Program submitted comments to the CFPB in response to their request for feedback to define “a larger participant of a market for other consumer financial products or services.” Sound boring?  Well, trust me – it’s not. Defining “larger participant” will be one of the most important decisions the CFPB makes as it’s setting itself up.

“In a sense we've come to our nation's capital to cash a check. When the architects of our republic wrote the magnificent words of the Constitution and the Declaration of Independence, they were signing a promissory note to which every American was to fall heir. This note was a promise that all men, yes, black men as well as white men, would be guaranteed the "unalienable Rights" of "Life, Liberty and the pursuit of Happiness." It is obvious today that America has defaulted on this promissory note, insofar as her citizens of color are concerned.