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Quick Hits-In Defense of Subprime Loans

Last home-town bank gone
After more than a century in Detroit, Comerica moves its headquarters to Dallas. One member of the bank's board, a group that includes many of Detroit's powerbrokers, explained that "Wall Street does discount Detroit companies, generally."

—In the red vs. redlining—
Howard Husock warns against judging the subprime lending market too harshly: "A generation ago… mortgage lending was confined to savings-and-loan institutions limited in the interest rates they could charge. These institutions avoided risks and were said to deny credit to poorer neighborhoods."

—New required reading—
Planetizen rolls out theInterchange blog, which is really more of an oped page for planners.

—37,000 post offices can't be wrong—
No, really they can't. Public officials seeking simple solutions to tough problems should take note of the USPS's excellent new retail standardization program which allows the removal of clocks from retail areas. "We want people to focus on postal service and not the clock," said Stephen Seewoester, Dallas spokesman for the U.S. Postal Service.

 

 

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