To run Chicago better, Mayor Johnson needs to hire better

Your editorial regarding Mayor Brandon Johnson’s “misses” in running city government made some good points. He could and should be doing a better job.

There is no reason to believe that the mayor does not want to live up to his promises and stated goals. There is no reason to believe that Johnson is not making good faith efforts to address matters such as the migrant crisis and homelessness. His true missteps seem to be an inability to competently staff the many city offices that help run Chicago.

Yes, Johnson is ultimately responsible for the failure of his plans to come into fruition. Yet it appears that his biggest stumbles are due to blunders committed by his selected underlings.

More than a few people have been elected as Chicago’s mayor who at first glance appeared to be ill-prepared to do the job. The mayors who ultimately got some good results were those who recognized their limitations and surrounded themselves wtih experienced and proven individuals.

To effectively do his job, Johnson has to get better at choosing those subordinates who will adeptly execute his plans and projects. “Always associate yourself with people who are better than you,” as Warren Buffett put it.

Terry Takash, Western Springs

Interest rate cap on payday lenders hurt consumers

The recent article in the Sun-Times on how fewer Illinois residents are using payday lenders points to an obvious fact: the number of those loans decreased sharply after the Predatory Loan Prevention Act went into effect. The article, however, fails to report how the PLPA’s all-in rate cap of 36% negatively impacted consumers. The PLPA did not just affect payday loans nor did it affect Illinois consumers equally: it had a predictably disastrous effect on consumers with sub-prime credit scores—likely the very consumers the law was intended to help.

Our research team directly tested the effects on Illinois consumers. We use credit bureau data for Illinois and its neighbor, Missouri, a state without any legislated interest-rate cap, to estimate the effects of the Illinois rate cap on unsecured installment loans.

In our published article, we report that the PLPA dramatically restricted access to consumers who have subprime credit, borrowers generally not served by banks and credit unions.

Following the imposition of the rate cap, we estimate that the number of loans to subprime borrowers decreased by 38% and the average loan size to subprime borrowers by 35%, with a net effect of decreasing dollars loaned by about 20%. Shockingly, we estimate that about 34,000 Illinois families, who already had few options when seeking credit, lost access to an installment loan

Our study also includes the results of a survey of Illinois borrowers who had previously used small-dollar credit products that were effectively banned under the PLPA. Of those borrowers surveyed, 93% said their loan helped manage their financial situation; 79% said they would like the option to return to their previous lender, and almost 40% reported that their financial well-being declined.

Imposing rate caps reduces the supply of small-dollar loans, but it does not reduce the need for credit. Small-dollar loans are likely the best option available to consumers who choose to use them. Removing choices from consumers who already have few credit options leaves them worse off.

Supporters of interest rate caps must provide an answer to a basic question. To whom do consumers turn when an emergency need for cash arises?

Thomas W. Miller, Jr., Jack R. Lee Chair in Financial Institutions and Consumer Finance, Mississippi State University and Senior Research Fellow at Consumers’ Research

A comprehensive approach to criminal justice

The recent Cook County State’s Attorney race, with its razor-thin victory, highlights the nuanced desires of our community for a balanced approach to justice, one that prioritizes the needs of both victims and taxpayers. As a state representative, I am deeply committed to working collaboratively with the state’s attorney to ensure our laws are punitive and focused on rehabilitation, aiming to prevent senseless deaths, deter crime, and foster safer streets.

We must strengthen Illinois laws to effectively address the complex challenges facing our criminal justice system. By enacting legislation emphasizing punishment and rehabilitation, we can create a framework that holds offenders accountable and allows them to reintegrate into society as productive citizens. This balanced approach serves the interests of justice and aligns with our collective goal of building safer communities for all.

Moreover, as stewards of taxpayer dollars, we must ensure that our public safety budgets are allocated wisely and yield tangible results. By prioritizing evidence-based initiatives and strategies, we can maximize the impact of our investments. Through strategic budgeting and accountability measures, we can enhance the efficiency and effectiveness of our public safety initiatives, ultimately delivering better outcomes for our community while respecting taxpayer dollars.

It is clear that the residents of Cook County are demanding a comprehensive approach to justice that upholds the rights of victims, protects taxpayers’ interests, and prioritizes public safety. I am committed to championing these principles and working tirelessly to enact meaningful reforms that reflect our community’s values and aspirations. Together, let us seize this opportunity to build a criminal justice system that is fair, equitable, and focused on the well-being of all Cook County residents.

State Rep. La Shawn Ford, D-Chicago

A future history lesson

In the future when scholars write about the most volatile time in our country’s history, they’ll surely include the present day.

Think about it, in the past two decades we’ve seen an economic crisis that rivaled the Great Depression, a virus that totally unraveled all of our lives, a failed coup attempt in D. C. and the emergence of Donald Trump as a political force.

And while that chapter might be titled: “Are You Kidding Me?"there’s little, if any, humor to be found anywhere. What’s more, schoolchildren who weren’t even born yet will one day scan their textbooks or Kindle devices and shake their heads in disbelief.

They might even ask how did a failed businessman, with limited talents and a total lack of intellectual curiosity, ever rise to the highest leadership position in our nation, much less the world?

At that point their teacher just might react in much the same manner as the rest of us... “Kids, it’s a question that’s befuddled people much smarter than myself, go ask your mother!”

Bob Ory, Elgin