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Beyond Grey Pinstripes
2011 Distinguished Management Lecture (2011)
Using the Master’s Tools to Create Social Change:
The Revolutionary Views of Mahatma Gandhi and Audre Lorde as they Apply to the Challenges Facing Low-Income Communities
Featuring Elyse Cherry, CEO of Boston Community Capital
As Wall Street begins to show signs of a recovery, families, small businesses and communities across America are still struggling to regain their footing in the worst economic crisis since the Great Depression. Although some economists have declared that the worst of the recession is behind us, unemployment remains near double digits, housing prices remain low, and foreclosures continue to climb. Subprime lending excesses and the housing foreclosure crisis have had a devastating and disproportionate impact on low-income communities -- destabilizing families and neighborhoods and threatening to erode decades of hard-won economic gain. Community development financial institutions (CDFIs) are working to address these challenges, providing innovative financing to create and preserve housing, jobs and opportunities for communities underserved by mainstream financial markets.
Elyse Cherry will explain Boston Community Capital’s vision and strategies for
· helping to build healthy communities where low income people live and work,
· aligning capital with social, economic, and political justice, and
· creating an inclusive prosperity that ensures that low-income and low-wealth people and communities have access to affordable, responsible financial products and services.
She will describe the organization’s Stabilizing Urban Neighborhoods (SUN) Initiative, a groundbreaking foreclosure relief effort that brings together Wall Street and Main Street – business experience and community values – to help families facing foreclosure-related evictions remain in their homes. And she will explain how effective use of “the master’s tools” is critical to solving today’s most pressing social and economic problems, and becoming the change we wish to see.