The Republican National Convention ends Thursday with a speech from Republican presidential nominee Donald Trump. We’ll get analysis of the convention and the speech from political consultants Chuck Coughlin, president of HighGround Public Affairs Consultants, Stan Barnes, founder and president of Copper State Consulting Group, and live via satellite from Cleveland at the Quicken Loans Arena, Constantin Querard, founder of Grassroots Partners.
The state legislature approved $24 million to guarantee loans so that charter school businesses can expand their operations. Eileen Sigmund, president and CEO of the Arizona Charter School Association, will discuss how charter schools fared during the legislative session.
A bill has been proposed that would allow financial institutions to offer “flex loans” to consumers, loans ranging from $500 to $3,000. Proponents say it will offer people with bad credit a chance to get small loans to help deal with unexpected bills. Opponents say the high-interest loans would be the return of “payday” loans that can trap consumers in debt. Representative J.D. Mesnard, the sponsor of the bill, will talk about the measure, along with Representative Debbie McCune Davis, who opposes the legislation.
The Export-Import Bank of the United States provides loans and loan guarantees to businesses when other financing is not available. The bank’s charter will lapse on September 30 unless Congress acts. Business groups are concerned about the possible demise of the bank. Dennis Hoffman, director of the L. William Seidman Research Institute at the W. P. Carey School of Business at Arizona State University, will talk about what the bank does and its importance.
Charles Keating was a man who exemplified how money could influence politics. Keating has died in Phoenix at age 90. His association and political contributions to the so-called “Keating Five,” a group of lawmakers that included then Arizona Congressmen John McCain and Dennis DeConcini, helped him get favorable treatment from regulators. Keating’s Lincoln Savings and Loans collapsed, leaving many with worthless investments and costing taxpayers billions of dollars. Michael Manning was the lead counsel for the FDIC in prosecuting Keating, and will look back on his role.
The U.S. Department of Agriculture issued a “drought designation” for 11 Arizona counties. Eligible farmers in the drought designated counties can apply for low-interest loans. Jack Peterson, interim director for the Arizona Department of Agriculture, will discuss the issue.
Arizona's law that allows payday loan companies to operate is set to terminate on July 1, 2010. Prop 200 repeals that termination date, allowing payday loans to continue indefinitely. The proposition also makes various changes to how payday loan companies may do business. Former state lawmaker Stan Barnes (�Yes on 200�) and an opponent of the proposition debate its merits.
From mortgages to car loans to credit cards, many people are deep in debt because of our ailing economy. In part two of our series we look at the "credit crunch". Dr. Tony Sanders, ASU Professor of Finance and Real Estate for the W.P. Carey School of Business, joins HORIZON to talk about debt and credit and how it relates to the current economy.
How are the state and national economy affecting Arizona's job market? Joining us to talk about employment issues in Arizona are Department of Commerce Deputy Director Kent Ennis, a former Joint Legislative Budget Committee Senior Economist who has headed up the research division at Commerce, and Dennis Doby, Senior Director of Research Administration.
state Senator Debbie McCune Davis, the chair of the Stop Payday Predators campaign discusses the proposed state initiatives and legislation dealing with payday loans with Stan Barnes, representing Payday Loan Reform.
Arizona has the highest rate of sub prime loans in the nation. There are concerns that there could be a high rate of default on such loans. Economist Jay Butler of Arizona State University's Polytechnic Campus will bring us up to date on the sublime lending situation.