Friday Roundup 11-5-21

The Justice Department has announced that it is investigating instances of “digital redlining”—the use of algorithms to determine which loans to approve and which to reject. The department also announced that it has settled a case against Trustmark Bank for its treatment of blacks and Hispanics in Memphis. The bank will “contribute” $3.85 million to a fund to create small business loans in the impacted neighborhoods, as well as fines of $9 million to two government agencies. This type of persecution is an open statement to lenders that they must make loans in “underserved” communities or face stiff fines. As occurred in the early 2000s, lenders once again must make risky loans to satisfy government officials.

A study by two professors at George Washington University finds that affordable housing leads to better health, including lower blood pressure and lower cholesterol. The study focused on the impact of inclusionary zoning policies—requirements that developers set aside housing in their projects at below-market rates—i.e., at a loss. One of the authors of the study said, “[W]hat we found was those jurisdictions that had an inclusionary zoning policy in place exhibited lower levels of these health indicators.” And those outcomes were better in jurisdictions with inclusionary policies that were mandatory rather than voluntary. There have already been rumblings that the housing crisis is a public health emergency, and this study will just accelerate calls for more government intervention in the housing market.

In USA Today, former Judge Andrew Napolitano takes both Texas Gov. Greg Abbott and President Biden to task for their positions on COVID  vaccination mandates. Abbott has issued an order prohibiting private businesses from requiring employees to be vaccinated for COVID. Biden has announced plans to compel employers with more than one-hundred employees to require vaccination. Both, Napolitano correctly notes, are an attack on private property rights and individual liberty. Abbott is telling business owners what they can’t do. Biden is telling them what they must do. Both types of order prevent business owners from establishing the terms and conditions for entering their property, forcing them to act contrary to their own judgment.