La Reserva Federal debe ser un reflejo de nuestras comunidades
La Reserva Federal debe ser un reflejo de nuestras comunidades
Ocho años después del inicio de la Gran Recesión, a las comunidades de color todavía les cuesta recuperarse. La tasa de...
Ocho años después del inicio de la Gran Recesión, a las comunidades de color todavía les cuesta recuperarse. La tasa de desempleo de los afroamericanos a nivel nacional es de casi 9%, más del doble que la tasa de 4.3% de los estadounidenses de raza blanca, y entre los latinos es un lamentable 6.1%.
Las comunidades que siguen afectadas por la recesión han notado estas disparidades y han llevado sus reclamos directamente a la Reserva Federal, pues dada la facultad de esta de modificar la tasa de interés, sus medidas influyen enormemente en el desempleo y los salarios. En los últimos dos años, una coalición de líderes comunitarios, sindicatos y trabajadores mal remunerados se han quejado de la política y dirección de la Reserva Federal, que desde hace mucho tiempo opera fuera de la vista del público.
Pero eso está empezando a cambiar a medida que queda cada vez más claro que la recuperación sigue siendo enormemente dispareja. Hoy en día, se critica cada vez más a la Reserva Federal por no hacer lo suficiente para ayudar a las comunidades de color a recuperarse.
Este mes, más de 100 miembros del Congreso enviaron una carta a la Reserva Federal, con la cual se sumaron a las quejas y exigieron más diversidad racial, económica y sexual. Actualmente, en el sistema de la Reserva Federal predominan los hombres blancos y miembros del sector financiero, quienes están más protegidos de los efectos que persisten de la recesión.
Un informe reciente del Center for Popular Democracy señaló que un descomunal 83% de los miembros de la Reserva Federal son blancos, en comparación con 63% de todos los estadounidenses. Ni un solo presidente regional es latino o de raza negra. De hecho, nunca en la historia de la Reserva Federal ha habido un presidente regional afroamericano. Es más, solo 11% de ellos provienen de grupos comunitarios, sindicatos o el entorno académico, y casi 40% provienen del sector financiero.
Esto es un problema. Si casi todos los encargados de dictar la política son banqueros blancos, y no se oyen las voces de las mujeres, minorías y representantes de grupos de trabajadores y consumidores, se desatenderán las necesidades de dichos grupos.
Hillary Clinton, quien se tiene previsto sea la candidata demócrata a la presidencia, se ha unido a las quejas y ha dicho públicamente que si la eligen, se esforzaría por remplazar a los banqueros de los directorios de la Reserva Federal con más miembros latinos y afroamericanos.
Por fin se está cuestionando a una de las instituciones menos trasparentes pero vitalmente importantes del país. Ya que la Reserva Federal se dispone a tomar una decisión sumamente importante en junio con respecto a las tasas de interés, miles en todo el país seguirán exigiendo decisiones que beneficien a todos los estadounidenses, no solo a una porción privilegiada de la población. Ya que los latinos y otras comunidades en desventaja en todo el país siguen sufriendo las consecuencias de la recesión, no se puede dejar que la Reserva Federal siga operando a puerta cerrada.
By Rubén Lucio
Source
In Troubled Times, the Federal Reserve Must Work for Everyone
Global Shock It's true that many of the causes of the recent stock market turmoil are global, rather than...
Global Shock
It's true that many of the causes of the recent stock market turmoil are global, rather than domestic. But those distinctions are becoming less important in a world of unfettered capital flow. Regional markets, like regional ecosystems, are interconnected.
Europe is struggling because of a misguided attachment to growth-killing austerity policies. Like Republicans in this country, Europe's leaders are focused on unwise government cost-cutting measures that hurt the overall economy.
China's superheated markets have experienced a sharp downturn, and its devaluing of the yuan is likely to affect American monetary policy. Many of the so-called "emerging markets" are in grave trouble, their problems exacerbated by an anticipated interest rate hike from the U.S. Fed.
Plunging crude oil prices are a major factor in the events of the last few days. But questions remain about the underlying forces affecting those prices. Demand is somewhat weaker, and Saudi officials are refusing to cut production. But there is still some debate about whether these and other well-reported factors are enough to explain the fact that the price of a barrel of oil is roughly half what it was just over a year ago, in June 2014.
American Turmoil
Talk of recovery here in the U.S. has been significantly dampened by events of the last several days. The now-interrupted stock market boom had been Exhibit A in the case for recovery.
Exhibit B was the ongoing drop in the official unemployment rate. There, too, signs of underlying weakness can be found. The labor force participation rate remains very low for people in their peak working years, as economist Elise Gould notes, and has only come back about halfway from pre-2008 levels. Jared Bernstein notes that pressure to raise wages, which one would also expect in a recovering job market, also remains weak.
All this argues for a rational and coordinated policy, one in which the Federal Reserve and the U.S. government act together to restore a wounded economy. What would that look like?
It would not include raised interest rates -- something that nevertheless continues to be a topic of serious discussion. As Dean Baker points out, China's currency devaluation alone should have been enough to take that idea off the table. What's more, as Baker rightly notes, such a move would only make sense if the Fed "is worried that the U.S. economy was growing too quickly and creating too many jobs." That's a notion most Americans would probably reject as absurd. Most are not seeing their paychecks grow or their job opportunities multiply.
Anxiety about inflation, while all but omnipresent in some circles, is not a rational fear. A slow rise in prices (0.2 percent in the 12 months ending in July, as opposed to the Fed's recommended 2 percent per year) tells us that inflation is not exactly looming on the horizon.
Now what?
"Everything is going to be dictated by government policy," the chief investment officerof a well-known investment firm said this week. In that case, isn't it time for a national conversation about that policy?
Another investment strategist told the Wall Street Journal that today's challenges come at a time when "global central banks have exhausted almost all their tools ... It's difficult to see how central banks come in to support markets."
If they've exhausted all their commonly-used tools, it may be time to develop new ones -- not to support "markets," but to promote jobs and growth for everyone.
First, do no harm. The Fed needs to hold off on any move to raise interest rates. But inaction is not enough. It was given a dual mandate by Congress: to stabilize prices and keep employment at reasonable levels.
Activist groups like the "Fed Up" coalition, led by the Center for Popular Democracy (and including the Campaign for America's Future), are working to move the Fed toward that second objective. They've been pushing to change its governing boards, which are heavily dominated by big banks and other major financial interests, and have called for policies that focus on improving the economic lives of most Americans.
Those policies could take a number of forms. One idea comes from Jeremy Corbyn, the populist politician who's on track to become the next leader of Great Britain's Labour Party. Corbyn's economic plan includes "quantitative easing for people instead of banks." Corbyn proposes to grow the financial sector in a targeted way, by giving the Bank of England (the UK's version of the Fed) a mandate to "invest in new large scale housing, energy, transport and digital projects."
A headline on the website of the Financial Times says (with apparent surprise) that "Corbyn's "People's QE" could actually be a decent idea."
Corbyn also proposes to "strip out some of the huge tax reliefs and subsidies on offer to the corporate sector." The added revenue would go to "direct public investment," including the creation of a 'National Investment Bank' to "invest in the new infrastructure we need and in the hi-tech and innovative industries of the future."
Qualitative Easing
Call it "qualitative," rather than "quantitative," easing. It would increase the money supply, but for money that is to be invested in the real-world economy -- the one that creates jobs, lifts wages, and creates broad economic growth.
Could something like Corbyn's plan ever happen here? There's no reason why not. The Federal Reserve wasn't created by bankers, nor is it there to serve bankers -- although a lot of people inside and outside the Fed act as if it were. (The choice of a former Goldman Sachs executive for its latest major appointment won't help change that.)
The Federal Reserve was created by the American people through an act of Congress. Its governors and its policies are there to protect and serve the public. The Fed should use its oversight capabilities to ensure that banks don't behave in a reckless manner or help private funds and other unsupervised institutions to behave recklessly.
We are still paying the price for allowing big-money interests to dominate both lawmaking on Capitol Hill and monetary policy at the Federal Reserve. That must change. Congress and the Fed, acting together, should ensure that our nation's policies benefit the many who are in need of help, not the few who already have more than they need.
Richard Eskow is a writer and editor with the Bernie 2016 campaign, the host of The Zero Hour radio program, and a Senior Fellow with the Campaign for America's Future. The opinions expressed here are his own.
Source: Huffington Post
JPMorgan boss: 'Trump is our pilot' even when we disagree
JPMorgan boss: 'Trump is our pilot' even when we disagree
Jamie Dimon, chairman and chief executive of JPMorgan Chase & Co. and one of the few big-bank bosses to keep his...
Jamie Dimon, chairman and chief executive of JPMorgan Chase & Co. and one of the few big-bank bosses to keep his job after the Great Recession, will keep advising President Trump even when they might disagree, Dimon told shareholders at the company's annual meeting at its Delaware Technology Center north of Wilmington.
"Trump is the pilot flying our airplane," and as "a patriot" Dimon will continue to serve on a Presidential advisory panel, even though he may not "agree with all his policies," he said during a shareholder question-and-answer session.
Read full article here.
Arizona special election 2018: ALS patient and activist Ady Barkan stumps for Democrat Hiral Tipirneni
Arizona special election 2018: ALS patient and activist Ady Barkan stumps for Democrat Hiral Tipirneni
Be a Hero is an offshoot of the Center for Popular Democracy’s CPD Action group (Barkan previously worked for the...
Be a Hero is an offshoot of the Center for Popular Democracy’s CPD Action group (Barkan previously worked for the center) and will concentrate on boosting Democratic candidates focused on protecting health care and entitlement programs like Medicare, Medicaid, and Obamacare, as well as ousting Republican incumbents who voted for the GOP tax plan or have voiced support for cutting entitlements.
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Should You Carry a Municipal ID Card?
OZY - April 29, 2014, by Pooja Bhatia - Comprehensive immigration reform is on again. No, it’s off again. No, it’s on...
OZY - April 29, 2014, by Pooja Bhatia - Comprehensive immigration reform is on again. No, it’s off again. No, it’s on again. Nope, it’s off again.
Take heart, CIR enthusiasts. As the back-and-forth over immigration reform enters its umpteenth year, a potential workaround might be coming to a city near you.
Since 2007, a handful of cities have issued municipal IDs to residents, regardless of their citizenship. The idea is to integrate undocumented immigrants by making it easier for them to open bank accounts, interact with the police, access city services and rent an apartment. Bringing the undocumented “out of the shadows” will improve civic life for everyone, proponents say.
It’s a warm-hearted move as well as a political calculation. The concept is generally popular in cities, which tend to lean liberal, and is sure to have long-range appeal among voters as national demographics shift. About a dozen cities are in some stage of the municipal ID process.
The line between protecting and branding residents can be a fine one.
But ID cards are not an easy way out of the immigration quagmire. Opponents argue that municipal IDs overstep local authority, could lead to fraud and lure terrorists. The earliest version won vicious backlash, including from federal authorities. Even those who support the cards stress the importance of sweating the small stuff, like card design and privacy controls. The big risk: Unless they’re popular with immigrants and non-immigrants alike, the ID cards can brand as outsiders the very people they attempt to embrace.
“It’s been trial and error for cities to even realize that it’s a risk and start guarding against it,” says Emily Tucker, an attorney at the Center of Popular Democracy who has studied the issue in depth.
This week, New York City will hold its first hearings on municipal ID legislation, a pet project of the new mayor, Bill de Blasio. If approved, New York’s program would be the most prominent of its kind. It would send a message, too, for New York City has a certain symbolic status in matters of security and immigration.
Proponents like Tucker are enthusiastic about New York’s foray into municipal IDs, if a bit wary. If not done right, they say, the ID cards won’t protect undocumented immigrants, but just sort and label them for easy deportation. The line between protecting and branding can be a fine one. The IDs tend to work best when other protections for undocumented residents are in place: confidentiality for city services, local law enforcement policies that limit interaction with Immigration and Customs Enforcement (ICE), and other “sanctuary city” provisions. “Without those things, people won’t want to use the card — they’ll be too afraid,” says Tucker.
Cities vary enormously on this count: Some abide by the ICE’s “detainer requests,” holding suspected unauthorized immigrants in local jails until the federal authorities pick them up. Others refuse. Some jurisdictions allow police to act as ICE deputes. Others won’t allow police officers to inquire about immigration status.
California Highway Patrol officers lead an information session on obtaining a state driver’s license at the Mexican Consulate in San Diego, Calif., on April 23, 2014.
New Haven, Conn., was the first municipality to adopt local IDs, in 2007, after a robber stabbed an immigrant to death. According to reports, undocumented immigrants were dubbed “walking ATMs” — often, they carried cash, as they couldn’t open bank accounts. New Haven’s program faced some backlash, including, allegedly, from federal authorities: Less than two days after the city passed municipal ID legislation, the ICE raided homes in the area and detained 32 immigrants.
Although the city has stood by its program– it’s issued some 10,000 IDs– it’s not clear how functional the IDs are. Cashiers often don’t accept it, researchers found, and it served mostly to underscore the city’s pro-immigrant attitude.
Since 2007, Oakland, San Francisco, Washington, D.C. and several localities in New Jersey have all joined suit. Programs in Richmond and Los Angeles have been approved, and local governments from Philadelphia to Iowa City and Phoenix are contemplating issuing cards, too.
The local ID programs are yet another instance of cities taking “an affirmative step toward securing interests of their residents in the face of congressional inaction,” says Peter Bailon, a lawyer at the progressive American Legislative and Issue Campaign Exchange. They also demonstrate cities’ ability to enact progressive agendas that likely wouldn’t fly nationally.
But are cities exceeding their authority? “It’s not just usurping but contravening federal law,” says Ira Melhman, spokesperson for the conservative Federation for American Immigration Reform (FAIR). There’s controversy here. Although the federal government places control over immigration firmly within its authority, the law does not explicitly forbid the issuance of local IDs, proponents say. And the feds have tended to turn a blind eye to the programs.
Mehlman and others say they also worry about terrorism. They argue that municipal ID requirements are lax and could allow criminals to procure false identification. Official documentation, even if limited to a few municipal venues, could serve as “breeder documents” for other IDs, they say. New York state Senator Greg Ball blasted the municipal ID plan as the “de Blasio Terrorist Empowerment Act.”
ID proponents dismiss such fears as absurd. The IDs, they point out, have stringent eligibility requirements and limited jurisdiction. They don’t replace federal identification documents such as passports, social security cards or tax identification numbers. Their main concern is that the IDs actually be used.
It may not be so easy to circumvent the federal government though, even for cities that are relatively friendly to the undocumented, like New York. De Blasio’s administration has already issued notice that it could put out bid specifications for ID cards, but the City Council has lagged. Only 15 council members have come out saying they favor the legislation, short of the 26 needed for a majority.
Of course, with hearings starting tomorrow, that could change quickly. Are you ready for your New Yorker ID, New Yorkers?
SourceOne ex-banker's built-in advantage in the Fed chair race: Family ties to Trump
One ex-banker's built-in advantage in the Fed chair race: Family ties to Trump
With Gary Cohn’s chances of becoming chairman of the Federal Reserve diminished, another former banker is waiting in...
With Gary Cohn’s chances of becoming chairman of the Federal Reserve diminished, another former banker is waiting in the wings for the coveted post: Kevin Warsh.
A veteran of both the central bank and Wall Street, Warsh is already high on the White House’s list of possible successors to Fed Chair Janet Yellen. But he has an enviable reference: his billionaire father-in-law, who met Donald Trump in college and is a confidant to this day.
Read the full article here.
The Housing Recovery Has Skipped Poor and Minority Neighborhoods
On October 11, 2009, when Isaac Dieudonne was two years old, his family moved into a new home in Miramar, Florida. As...
On October 11, 2009, when Isaac Dieudonne was two years old, his family moved into a new home in Miramar, Florida. As they began to unpack, young Isaac bounded out the front door in search of fun. The parents found him several minutes later, floating dead in the fetid pool of a foreclosed house.
Since the financial crisis began in 2008, approximately 5.7 million properties have completed the foreclosure process, and stories like this begin to answer the critical question of what happens to all those homes. While many are resold, too often they fall into disrepair, creating blight that drags down property values and turns communities into potential deathtraps, attracting not just mosquitoes and mold, but crime and tragedy.
According to expert reports, this neglect occurs disproportionately in communities of color, part of a disturbing pattern. While the Supreme Court has reaffirmed the ability to use the Fair Housing Act to challenge discriminatory effects in neighborhoods, the nation’s neighborhood layout looks more segregated than ever, exacerbating the racial wealth gap. There’s no point in having an anti-housing discrimination law if it isn't vigorously employed to prevent a real societal division that drags down minority families. The Justice Department, free of uncertainty about the Fair Housing Act’s future, needs to work to realize the law's intended purpose.
The housing recovery has skipped more low-income neighborhoods.Fifteen percent of homes worth less than $200,000 are still underwater, where the borrower owes more on the house than it’s worth. This is compared to only six percent of homes over $200,000. Property values in low-income neighborhoods have not bounced back to the degree of their wealthier counterparts.
An important study from Stanford University shows how this housing divide doesn’t align with socioeconomic status, but with race. Middle-class black households are more likely to live in neighborhoods with lower incomes than the average low-income white household. This creates fewer opportunities for minorities, as neighborhood poverty can predict the quality of schooling and the availability of jobs for the next generation. Areport from the American Civil Liberties Union shows that median household wealth for African-Americans continued to drop after the housing collapse, long after median wealth for whites stabilized. They project this to continue well into the next generation, with a drop in the average black family’s wealth by $98,000 more than it would have been without the Great Recession.
Foreclosures are largely responsible for this widening disparity. Predatory lending was directed at minority homeowners. Subprime mortgages weregiven disproportionately to minority borrowers, and after the housing bubble collapsed, these loans failed at higher rates. Racial segregation prior to the crisis turned these neighborhoods into targets, with subprime lending specialists going door-to-door and luring even those who owned their homes outright into refinances with dodgy terms. Banks like Wells Fargo and Bank of America paid fines for pushing minority borrowers into subprime loans, even when they qualified for better interest rates. But these fines—$175 million and $335 million, respectively—were substantially lower than they paid for other bubble-era abuses.
More black and Latino borrowers had their wealth exclusively tied up in their homes, and when they lost them, more of their wealth dissipated. Even after the collapse, the Federal Reserve found that from 2010-2013, net worth of nonwhite or Hispanic families fell 17 percent, compared to an increase of 2 percent for white families.
This wealth transferred in part to Wall Street. Private equity and hedge funds scooped up hundreds of thousands foreclosed properties in low-income communities, and converted them into rentals. This prevented minority homeowners from benefiting from any return in property values, and displaced many from their neighborhoods. And a recent survey of community organizations finds that this has created higher rents and more transient neighborhoods.
The Department of Housing and Urban Development, along with quasi-public mortgage giants Fannie Mae and Freddie Mac, auction off these homes to investors at a discount, according to a study from the Center for Popular Democracy. The U.S. Conference of Mayors recently passed a resolution urging these government lenders to sell instead to non-profits that would work to protect homes from foreclosure.
And then there is the disparate treatment of foreclosed properties repossessed by banks, known as real estate owned (REO). The National Fair Housing Alliance’s findings in 29 metropolitan areas indicate that REO in communities of color are twice more likely to have damaged doors and windows, overgrown weeds and trash on the premises and holes in the roof or structure. This violates the Fair Housing Act: Banks are responsible for maintenance and upkeep on all properties, and if they neglect that in black and Latino neighborhoods, the Justice Department can sanction them.
The failure to maintain foreclosed properties has multiple negative effects for communities. Blight creates health and safety concerns, acts asmagnets for crime, and lowers property values for neighboring homes. It also reduces the tax base for municipalities, as nobody pays property taxes on an empty house. The city of Detroit has already lost $500 million from foreclosures in the past few years; 78 percent of homes with subprime loans are know foreclosed or abandoned.
Last week, fifteen Senate Democrats, including leaders Chuck Schumerand Dick Durbin and ranking member of the Banking Committee Sherrod Brown, asked regulators to open an investigation into the treatment of foreclosed properties. “The same communities of color that were victimized by predatory lending may now be facing the double whammy of racial bias when it comes to the upkeep of foreclosed homes,” said Brown. But policing foreclosed properties would only begin to close the gap between white and non-white neighborhoods.
The entire point of the Fair Housing Act, passed shortly after Martin Luther King’s death in 1968, was to reverse the findings of the Kerner Commission, that the country “is moving toward two societies, one black, one white — separate and unequal.” But reading through these statistics, you wouldn’t know the Fair Housing Act existed. We are further than ever from what Justice Anthony Kennedy described as the act’s “role in moving the Nation toward a more integrated society.” It has been impotent in the face of multiple discriminatory shots at people of color, which has opened up a historically large wealth gap and crippled their opportunity.
Until we figure out another way for the middle class to build wealth other than purchasing a mortgage, the discriminatory effects of our housing system will further a permanent underclass among people of color in America. The Justice Department has an enormous amount of work to do.
Source: The New Republic
Demonstrators bring Dreamers, TPS cause to Trump’s doorstep
Demonstrators bring Dreamers, TPS cause to Trump’s doorstep
Several dozen demonstrators, organized by progressive groups and chanting in Spanish, brought the cause of the Dreamers...
Several dozen demonstrators, organized by progressive groups and chanting in Spanish, brought the cause of the Dreamers and Temporary Protected Status refugees—both groups targeted for eviction from the U.S. by Donald Trump—to the doorstep of the GOP president and his Republican backers on the evening of Feb. 1.
Read the full article here.
Hispanos afrontan barreras de idioma en NY, según informe
El Diario – August 5, 2013, by Ruth E. Hernández - Las agencias del Gobierno estatal de Nueva York tienen importantes...
El Diario – August 5, 2013, by Ruth E. Hernández - Las agencias del Gobierno estatal de Nueva York tienen importantes carencias a la hora de facilitar el acceso a sus servicios a los más de $2 millones de personas y familias que no dominan el inglés, según un estudio presentado hoy.
“Todavía queda mucho por hacer para romper las barreras del idioma y asegurar que reciban una competente y consistente asistencia”, señala el “Informe de Acceso a Lenguaje”, que destaca que esta situación dificulta a estas personas el poder obtener servicios básicos como el carné de conducir o denunciar un crimen.
El estudio, de la organización Se Hace Camino Nueva York, es el primer informe que se publica luego de que, en 2011, el gobernador de Nueva York, Andrew Cuomo, firmara una orden ejecutiva para garantizar que inmigrantes reciban, en los seis idiomas más hablados, los servicios de agencias estatales que brindan ayuda directa a la comunidad.
“Con esta orden la administración del gobernador Cuomo no sólo tomó un paso importante para garantizar el acceso a servicios del gobierno a los que aún no dominan el inglés, sino que demostró liderazgo a nivel nacional en este asunto”, indica el informe de la entidad sobre las agencias que más en contacto están con el público.
Sin embargo, reveló que, un año después de entrar en vigor esta medida, los inmigrantes afrontan dificultades para tener acceso a servicios importantes como puede ser un carné de conducir, recibir los cupones de alimentos porque los formularios no han sido traducidos en su idioma o solicitar el desempleo, entre otros trámites, dijo a Efe Theo Oshiro, codirector de la organización.
Entre los hallazgos destaca, que pese a los esfuerzos de las agencias gubernamentales, la mayoría de los inmigrantes no están recibiendo documentos importantes traducidos en su idioma, tal y como estipula la orden ejecutiva.
Cita como ejemplo que en Buffalo sólo el 11 % de los hispanos afirma recibir la documentación en su idioma, mientras que en los pueblos de la región central del estado la cifra fue del 45 %.
Igualmente el estudio mostró que a través del estado sólo el 45 % de las agencias están brindando servicios de interpretación.
En específico, señala que en el Departamento de Vehículos de Motor, una de las agencias que más público atiende, sólo se ofreció información en los idiomas establecidos en el 32 % de los casos, mientras que en el Departamento del Trabajo esta cifra aumenta al 61 %.
También indica que en aquellas agencias en las que se brindó esta posibilidad, el público estuvo complacido con la calidad del mismo.
En cuanto a la Policía estatal, Oshiro explicó que aquellas personas que acuden en busca de ayuda tienen que esperar mucho tiempo y que “no tiene ni siquiera puesto en su página que puede brindar servicios” en varios idiomas.
Durante la evaluación, los autores descubrieron que el estado contrata a agencias locales en varios de sus condados para suplir servicios, y que éstas están exentas de cumplir la orden ejecutiva.
“Eso no es aceptable. No entendemos por qué no les cubre la orden ejecutiva”, dijo Oshiro.
Indicó además que, aunque las agencias del estado con sedes en la Ciudad de Nueva York, mejoraron en un 15 % los servicios que brindan, desde que entró en vigor la orden ejecutiva, “el estudio muestra que les está tomando tiempo” cumplir con ella, lo que, según Oshiro, no es aceptable porque tuvieron tiempo para prepararse.
Entre las recomendaciones que aporta el reporte figura mejorar el acceso de interpretación y la traducción, desarrollar y distribuir una guía de cómo mejorar los servicios y establecer colaboraciones con organizaciones que estén en contacto con la comunidad que no domina el inglés.
El informe se realizó en cooperación con la oficina del gobernador y, de acuerdo con Oshiro, los autores se reunirán con sus representantes para saber qué pasos van a tomar para cumplir con la orden ejecutiva.
“El estudio es una herramienta para que la oficina del gobernador haga lo que deben hacer”, afirmó.
Source
New York charter school audits reveal $28 million in questionable expenses
New York State charter schools have made more than $28 million in questionable expenditures since 2002, according to a...
New York State charter schools have made more than $28 million in questionable expenditures since 2002, according to a new review of previous audits of the publicly funded, privately run schools.
The Center for Popular Democracy’s analysis charter school audits found investigators uncovered probable financial mismanagement in 95% of the schools they examined.
Kyle Serrette, education director for the progressive group, said the review of previously published audits showed the schools need greater oversight.
“We can’t afford to have a system that fails to cull the fraudulent charter operators from the honest ones,” said Serrette, whose group compiled the report with the non-profit Alliance for Quality Education. “Establishing a charter school oversight system that prevents fraud, waste and mismanagement will attack the root cause of the problem.”
The state controller’s office and state Education Department have audited 62 of New York’s 248 charter schools, according to Serrette’s report. All told, Serrette’s group estimates wasteful spending at charters could cost taxpayers more than $50 million per year.
Eighteen audits targeted charters in New York City, representing about 9% of the 197 charters in the five boroughs. Each audit found issues.
A 2012 audit found Brooklyn Excelsior Charter School was paying $800,000 in excess annual fees to the management company that holds its building’s lease. A 2012 audit of Williamsburg Charter High School revealed school officials overbilled the city for operations and paid contractors for $200,800 in services that should have been provided by the school’s network. A 2007 audit of the Carl C. Icahn Charter School determined the Bronx school spent more than $1,288 on alcohol for staff parties and failed to account for another $102,857 in expenses.The city spends more than $1.29 billion on charters annually.
State Education Department officials and a spokesman for the state controller’s office declined to comment on Serrette’s report.
Northeast Charter School Network CEO Kyle Rosenkrans said the schools already get plenty of oversight because they are subject to audits and must have their charters renewed at least every five years.
“Charter schools are the most accountable public schools there are,” the charter advocate said. “If we don’t perform or we mismanage our finances, we get shut down.
Source: New York Daily News
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