Racial Wealth Divide Archives

Racial Justice Communications in Obama’s America (Podcast)
On Febuary 25th, the Boston Chapter of the Progressive Communicators Network convened a panel discussion called “Talking About Racial & Economic Justice in Obama’s America.” April 17, 2009

Documenting the Silent Depression
Bill Fletcher writes: "Structural racist oppression has represented, to borrow from Columbia University Professor Manning Marable, the underdevelopment of Black America. Specifically, the conditions under which we have operated, often in the so-called best of times, have represented recession or sometimes near depression-like realities for millions of people." January 29, 2009

Recession Worsens the Racial Divide
UFE staffer Mike Lapham writes: "During any crisis, it is common to focus on the surface troubles and thereby miss opportunities for addressing underlying problems. Already, as the new administration tackles the current economic crisis, it seems diligent about plugging today's holes, to the exclusion of preventing more holes in the future. "...while we watch the first black president take office, we risk falling into another trap: Thinking that race is finally irrelevant. The truth is that, in an economic sense, race continues to be a major barrier." January 25, 2009

2008 Financially Bad Year for Blacks - 2009 May Be Worse
The nation's unemployment rate soared to 7.2 percent last month as the economy loss 524,000 jobs. The current recession took jobs from all major population groups. Whites saw their jobless rate jump from 6.2 percent in November to 6.6 percent in December. Black unemployment rose from 11.3 percent to 11.9 percent while joblessness for Hispanics increased from 8.6 percent to 9.2 percent. Unemployment for Asians stood at a seasonally unadjusted 5.1 percent. January 15, 2009

King’s take on dream? ”˜Yes, but . . .’
Those on both sides of the civil rights divide like to argue about what the Rev. Martin Luther King Jr. would say if he were still around. The essence of his message can better be found in the pages of "State of the Dream 2009: The Silent Depression," the report released today by United for a Fair Economy.   Click here to read the Buffalo News story.   January 15, 2009

No Adult Supervision
The current financial crisis is disproportionately affecting people of color. In our search for solutions, we must remember that deregulation led us to this crisis and that those who are traditionally the hardest-hit are people of color. Movement Vision Lab. September 23, 2008

Sub-Prime As A Black Catastrophe
No other recent economic crisis better illustrates the saying "when America catches a cold, African Americans get pneumonia" than the sub-prime mortgage meltdown. African Americans, along with other minorities and low-income populations, have been the targets of the sub-prime mortgage system. The American Prospect. September 22, 2008

The Housing Crisis: Blacks & Latinos Targeted
Subprime mortgages recently have expanded greatly. With higher interest rates and higher fees and penalties than conventional mortgages, subprime loans qualify individuals who otherwise couldn't get a loan because of low income or bad credit history. DiversityInc. September 10, 2008

The Color of Credit (Op-ed)
Charles Steele Jr., of the Southern Christian Leadership Conference, builds on our report "Foreclosed: State of the Dream 2008," in a critique of proposals to ease the credit crunch. The Washington Post. June 23, 2008

Credit Crunch Reveals Economic Racial Divide (Op-ed)
Jose Garcia of Demos uses data from our State of the Dream report in his recent op-ed. From the Hartford Courant. June 2, 2008

Race, Ethnicity and Economic Destiny (Event)
This panel discussion held on 05/09/2008, focused on the diversity of young adults and their economic expectations. Amaad Rivera, Racial Wealth Divide Program Leader at United for a Fair Economy presented. (Includes link to video.) May 9, 2008

What's the ”˜Color of Wealth'? (Op-ed)
Before there can be meaningful discussion, typical Americans will need to come face to face with some meaningful facts about U.S. economic history. Beneath the superficial race talk is the very real and complex issue of the color of wealth. By Sean Gonsalves in CommonDreams.Org. March 31, 2008

Town Hall Meeting Focuses on Harmful Banking Practices
Town Hall Meeting in Boston with Rep. Barney Frank, Mass. AG Martha Coakley Focuses on Harmful Banking Practices, Rising Credit Card Interest Rates Hurting Working Families and Consumers. Co-hosted by Service Employees International Union (SEIU), the Massachusetts Public Interest Research Group (MassPIRG), and UFE. March 19, 2008

A Community Approach to Affordable Housing
In their article "A foreclosure-free option," Responsible Wealth member, David Abromowitz, and his colleague Roz Greenstein discuss the use of Community Land Trusts (CLTs) to provide a community-based alternative to subprime mortgages as a way for low-income folks to become and remain homeowners. (From UFE's Enews.) February 29, 2008

Bank of America Benefits from Lending Crisis, Taxpayers to Foot the Bill
While many homeowners stand to lose their homes due to predatory lending, Bank of America is setting itself up to shift millions of dollars of corporate taxes onto taxpayers. (From UFE's Enews.) February 29, 2008

Subprime Lending Crisis Gets Racial Perspective
Our report, "Foreclosed: State of the Dream 2008," is getting a lot of attention. By pointing out the destructive nature of predatory loans for people and communities of color, we hoped we would make people see the issue in a new way. We are pleased that it seems to be working. For example, we've heard from federal policy makers as well as many social justice and social change organizations. (From UFE's Enews.) February 29, 2008

Doing More to Help Subprime Crisis (Op-ed)
The Bush administration is not doing nearly enough to help people who are facing foreclosure. February 22, 2008

King's Dream Deferred, One More Victim of the Subprime Mortgage Crisis
Michelle Singletary devotes her "Color of Money" column in The Washington Post to the findings in our "State of the Dream" report. February 10, 2008

Bush And 'Financial Apartheid'
Editorial by Investor's Business Daily claims that the disproportionate affect of the subprime crisis on people of color is not Bush's fault. February 6, 2008

The Boom Was a Bust For Ordinary People
Barbara Ehrenreich's Op-ed in the Washington Post uses data from our "State of the Dream 2008" report to illustrate how the recent boom hurt the non-rich. February 3, 2008

People of Color Face Historic Wealth Loss
The wealth gap between African American and white median households cannot but grow bigger in the wake of the subprime lending catastrophe. A Black Agenda Radio commentary by Glen Ford. January 23, 2008

Home Foreclosures and Minorities (TV Interview)
Amaad Rivera was interviewed about our report, "Foreclosed: The State of the Dream 2008." He also responded to telephone calls and electronic mail. January 21, 2008

Foreclosed: State of the Dream 2008
A new solutions-oriented report from UFE examines the racial bias of the subprime mortgage lending crisis, and the resulting huge wealth loss to people of color. January 16, 2008

Boston Herald Covers "State of the Dream" Story
UFE's Co-Executive Director, Brenda Cotto-Escalera, talks to the Boston Herald about the new report, "Foreclosed: State of the Dream 2008." January 15, 2008

NPR reports on Foreclosed: State of the Dream 2008
NPR host Michel Martin talks with a co-author of Foreclosed: State of the Dream 2008 for her show "Tell Me More." Listen to the interview. January 15, 2008

Building Bridges (Radio): Foreclosed: The State of the Dream
For tens of millions of people in the US, owning a home is the essence of the American dream. The Rev. Dr. Martin Luther King, Jr., would undoubtedly agree, and aspired to make the dream more broadly available - to Blacks, Latinos & Asians as well as Whites, to poor people as well as rich. But now, the sub-prime lending crisis has spread its tentacles across the country causing the greatest wealth setback for people of color ever. January 14, 2008

Let America Have Racial Wealth Equity
Race and gender compound the greatest economic inequality since the Great Depression of the 1930s. It is time for a change. By UFE staffer Amaad Rivera. December 18, 2007

Triple Threat: Racism, Economic Exploitation and War
UFE's Racial Wealth Divide staffer Amaad Rivera writes in Black Agenda Report about the triple threat that economic exploitation, racism and war pose to people of color. October 21, 2007

The Summer of our Discontent...Again
Amaad Rivera explores the recent US Supreme Court decision against desegregating schools. August 31, 2007

Fair Lending Helps Community Prosperity
A new report finds that African-Americans in Baton Rouge were more than twice as likely to receive sub-prime home loans as non-minorities in 2005. The report is the second in a series of reports on Louisiana lending practices commissioned by the Louisiana Community Reinvestment Coalition (LCRC) and compiled by the National Community Reinvestment Coalition (NCRC) Research and Policy division. June 27, 2007

People of Color Vote Blue, But Stay in the Red
http://cjonline.com/stories/011907/opi_139528448.shtml January 19, 2007

Dems '100 Hours' Agenda Does Little to Address Economic Divide
Study: Dems '100 Hours' Agenda Does Little to Address Economic Divide Between Whites and People of Color January 9, 2007

State of the Dream 2007
The fourth annual State of the Dream report finds that in 2007, while people of color support Democrats in the voting booth, they are still waiting for policies and programs that close the economic gap between them and whites. January 9, 2007