The strong emphasis, by market participants as well as public authorities, on the deep wisdom of financial markets before the Crisis has now brought about a public backlash against anything that even has a whiff of using finance or market forces to solve social issues.
One way our proposal addresses this first principle is by emphasizing minority depository institutions and community development finance institutions, and we are continuing to look for more ways to achieve this goal. Our proposal also makes a special effort to address the challenges of underserved rural communities.