NYC and LA have passed laws that are aimed at forcing big banks to invest in the local community. They do it by
giv[ing] preference for city contracts to banks that make the most substantial investments in the local community through small business loans, home loans, foreclosure prevention, and other programs.
I won't say that I'm especially optimistic about this working, but maybe it's a small step in the right direction.
It'd be interesting if some of the larger states (read, especially, California) passed laws saying that their pension funds and other government accounts could only be deposited in institutions that follow certain rules. Like, maybe, not engaging in naked shorts (naked shorts, I should point out, are an incredibly risky "investment". So risky, in fact, that they should really be called gambles. They're small on upside, and unlimited on downside. Yes, if your bet misses, you can lose all of your money. No matter how much you have).
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