Good afternoon. I like to call the subcommittee on housing transportation and Community Development committee to order print out to thank you as always senator you and your staff are working with us on this hearing. What a focus on Community Development Financial Institutions or cdfi and how specifically cdfi can promote Housing Development and Economic Opportunity. I think both center at lummis and i believe everyone in this country should have the freedom and the opportunity to build the lives they want. This is the American Dream and an essential Building Block for pursuing this dream the people have access to capitol and lending and resources so they can buy a home or build a Small Business or get an education. We also know not everyone has equal access to capitol and Financial Services this inequity drives big gaps for disparity, opportunity and wealth which is will be sooner country. Communities of color and Indigenous People and rural areas often do not have the same access to c
Sam bagman freed, how great would it be to be a billionaire in your twenties . And if youre not saying bagman freed, how great would it be to latch on to someone like him and make millions of dollars for an investment of a fraction of that amount. But thats not real life. The kind of strategy will always catch up to you. Bill black is an associate professor of economics and law at the university of missouri at kansas city where he teaches white collar crime, public finance, Anti Trust Law and economics, as well as latin american development. Hes a former executive director of the institute for fraud prevention. He has taught at the Lyndon B Johnson school of Public Affairs at the university of texas at austin as well as at santa clara university. Professor black was litigation director at the Federal Home Loan Bank board, Deputy Director of the savings and loan oversight body, the ssl, i see general counsel of the Federal Home Loan Bank of san francisco, and Senior Deputy chief council
The, the one of the fatal flaws with unrestricted capitalism is the desire to get rich as quickly as possible while putting in the least amount of work possible, its a practice that plays on the inherent reading is that most people have who wouldnt want to get rich quick, who doesnt see himself or herself as a corporate leader under the right circumstances. Doesnt fantasize about investing in facebook, google, microsoft or amazon on the very 1st day that those Companies Went public . Who doesnt wish that he was born buffet. But that kind of intellectual laziness, trying to predict the next big thing rather than putting in the work will always come back to bite you. Im john curiosity. Welcome to the west of lower the. 2 2 2 2 2 2 2 2 2 2 get rich, quick schemes are common place in the United States with a blind trust in barely regulated capitalism. Everybody, regardless of economic background, education level, age or anything else, believes that they have the ability to become welfare.
Quickly as possible while putting in the least amount of work possible. Its a practice that plays on the inherent reading is that most people have who wouldnt want to get rich quick, who doesnt see himself or herself as a corporate leader under the right circumstances. Doesnt fantasize about investing in facebook, google, microsoft for amazon on the very 1st day that those companies werent public who doesnt wish that he was born in buffalo, but that kind of intellectual laziness, trying to predict the next big thing rather than putting in the work will always come back to bite you. Im john curiosity. Welcome to the whistle blowers the. 2 2 2 2 2 2 2 get rich, quick schemes are common place in the United States with a blind trust in barely regulated capitalism. Everybody, regardless of economic background, education level, age or anything else, believes that they have the ability to become welfare. Then in their wildest dreams, if they just choose the right opportunity, we said see that
Regardless of economic background, education level, age or anything else, believes that they have the ability to become welfare. Then in their wildest dreams, if they just choose the right opportunity, we so see that with frequency here in the united states, just look at the scandal surrounding serratos. The runners this founders claimed that they had revolutionize the way the blood tests were done. And that their new technology could detect diseases earlier than any existing blood tests, without any proof that the Technology Even existed. The company reached evaluation of tens of billions of dollars, only to collapse. All of the companies founders are now in prison. And even more recent examples include that of Crypto Currency Exchange f t x. And if its founder sam bagman fried, how great would it be to be a billionaire in your twenties . And if youre not saying bagman fried how great would it be to john to someone like him and make millions of dollars for an investment of a fraction