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Inside Washington (02/14/2008)
* WASHINGTON (2/15/08)--National Credit Union Administration Chairman JoAnn Johnson highlighted important credit union programs and initiatives that are making a positive impact in African-American communities because of February as African-American History Month. “I appreciate the role credit unions are playing in empowering African American communities, particularly in the area of financial literacy and homeownership,” Johnson said ... * WASHINGTON (2/15/08)--The U.S. Small Business Administration (SBA) renewed its partnership with the Minority Business RoundTable (MBRT) yesterday in an effort to support small-business development initiatives in underserved communities. The partnership will allow organizations to share resources and educate minority entrepreneurs on how to use SBA products and services to grow business. The two-year agreement intends to help strengthen and expand small-business development in the nation for minority entrepreneurs ... * WASHINGTON (2/15/08)--A bailout of the bond insurance industry is not necessary, said Charles Chaplin, chief financial officer of bond insurer MBIA, during testimony to a House panel. MBIA is adequately capitalized to meet policyholder obligations, he added (The New York Times Feb. 14). Problems in the bond industry were triggered by the subprime mortgage crisis, leaving insurers worried about their credit ratings. Gov. Eliot Spitzer (D-N.Y.) said millions of Americans who own bonds could lose money, and college loans, state and local taxes, and museum budgets could be affected. U.S. Rep. Paul Kanjorski (D-Pa.) has suggested tighter regulation of the bond industry while Warren Buffett, billionaire investor, said he could help by offering $800 billion in second insurance ...


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