Record Bank Profits - American Dream Foreclosed
UFE Board member and co-author of State of the Dream 2010: Drained, shares his views on the recent megabank bonuses in light of the persisting unemployment and foreclosure crises in this op-ed in Common Dreams. January 25, 2010
The Crisis in Haiti
All of us at UFE would like to share our deepest condolences with the people of Haiti. Our thoughts are with them and our hope is that the good of this world will shine through such tragedy. January 15, 2010
PRESS RELEASE: State of the Dream 2010
Boston, MA, January 13, 2010 – A new report released today finds
that African Americans and Latinos are continuing to disproportionately
experience economic hardships, and that targeted economic policies are
required to address the racial economic divide in the US. January 13, 2010
NEW REPORT: Economy Worse for Blacks, Better for Whites
UFE's seventh annual State of the Dream report, this year entitled, Drained: Jobless and Foreclosed in Communities of Color, sheds light on the question of who is right about how to better support our Black communities - President Obama or the Congressional Black Caucus? January 11, 2010
Video: Meizhu Lui on The Color of Wealth
Watch a video of Meizhu Lui, co-author of UFE's book, The Color of Wealth, discussing the story behind the U.S. racial wealth divide. December 23, 2009
Black Unemployment: A "Canary in a Coal Mine"
Black unemployment is a nationwide crisis of proportions far greater than the national average. Michelle Chen writes that unemployment numbers for workers of color should signal to us the need for targeted policies in the economic recovery. UFE's 2009 State of the Dream report is cited in this article in Air America. November 24, 2009
PRESS RELEASE: UFE Backs Congressional Black Caucus
UFE supports the Congressional Black Caucus' actions to ensure that financial reform also address the crises of unemployment and homeownership in communities of color. UFE's Brian Miller states, "With so much of the economic recovery legislation focused on the
financial services industry and Wall Street, it's a welcome breath of
fresh air to see someone stand up for [those] trying to
find decent work and hold onto their homes." November 23, 2009
Washington Unemployment Up in September
Washington state's unemployment numbers show that a turnaround in the labor market is still out of sight - especially for people of color. UFE's 2009 State of the Dream report is cited in this article in the Sky Valley Chronicle. October 22, 2009
Learning God’s Economy from Muslim Friends
Jonathan Wilson-Hartgrove wonders, "[W]hat if [Christian] churches in this country took the
law of Christ as seriously as Muslim banks seem to take their law?" UFE's State of the Dream 2008 mentioned in this blog post.
October 9, 2009
Building Opportunity
UFE's 2008 and 2009 State of the Dream reports are cited in this report, which calls for transparency, equity, and accountability in Florida's allocation of recovery funds. October 6, 2009
Nowhere To Fall: Facing the economic crisis in the U.S.
This article in Z Magazine explores the evolution and realities of poverty in the US, and discusses the troubling link between culture and economy. The authors cite UFE's report, State of the Dream 2010: The Silent Depression. October 1, 2009
Why We Need Robust Consumer Financial Protection
Hilary Shelton, VP of Advocacy for the NAACP, cites information from UFE's State of the Dream report in his testimony to the House Financial Services Committee in support of creating a strong Consumer Financial Protection Agency. October 1, 2009
Race, Ethnicity and Economic Destiny (video)
Watch video of UFE's Amaad Rivera as he participates in a panel discussion on race and economic destiny at the 2008 "A Better Deal" conference, hosted by Demos. September 23, 2009
The Recession’s Racial Divide (op-ed)
"WHAT do you get when you combine the worst economic downturn since the Depression with the first black president?" Find out in this op-ed, where Barbara Ehrenreich and Dedrick Muhammad cite UFE's State of the Dream 2008. September 16, 2009
Recession hits minorites harder
"For many Americans, the recession officially began in December 2008,
but recent studies show it began much earlier — and had a greater
impact — for minorities." September 16, 2009
Hypocrisy at the NAACP 100th Anniversary Celebration?
Launched by great civil rights leaders 100 years ago; sponsored by Corporate America and the U.S. Army today. See Alex Kane's take on the direction of the NAACP. July 29, 2009
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
State of the Dream 2009: The Silent Depression
Our new report finds that people of color are being hurt by the economy
far more than the general population. 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
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
