Smart financial planning - such as budgeting, saving for emergencies, and preparing for retirement - can help households enjoy better lives while weathering financial shocks. Financial education can play a key role in getting to these outcomes.
From Ben Bernanke
How much would you pay to avoid a second Depression?
In fact, the world needs more nerds.
Aggregate statistics can sometimes mask important information.
If two people always agree, one of them is redundant.
As we try to make the financial system safer, we must inevitably confront the problem of moral hazard.
Home purchases that are very highly leveraged or unaffordable subject the borrower and lender to a great deal of risk. Moreover, even in a strong economy, unforeseen life events and risks in local real estate markets make highly leveraged borrowers vulnerable.
Community development has a long history of innovation and learning from experience.
No economy can succeed without a high-quality workforce, particularly in an age of globalization and technical change.
Many foreclosed homes are neglected or abandoned, as legal proceedings or other factors delay their resale. Deteriorating or vacant properties can, in turn, directly affect the quality of life in a neighborhood, for example, by leading to increases in vandalism or crime.
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