I remember it was not that long ago that the main issues for many urban politicians vis a vis the poorer parts of their city were
- to encourage more and free-er mortgage lending
- to encourage more retail businesses that would, through competition, help eliminate the retail price premium charged in many poorer areas
When I say I remember back to these things, I am not talking about 2 generations ago, for God sakes, I am talking about the 1990's. Just one presidency ago.
Now, politicians are looking to punish bankers who provided easy mortgages for poorer borrowers, and are seeking to shut down payday loan companies, the last resort for ready cash before once goes to Tony Soprano. Now, the LA city council wants to ban certain new retail establishments in South LA merely because they are too low cost and easy to use.