From The Ramparts
Junious Ricardo Stanton
Blacks Hurt Most By Mortgage Based Economic Crisis
“Minority communities received a disproportionate share of sub-prime mortgages. As a result, they are suffering a disproportionate burden of the harm and losses. According to a De¯mos report, Beyond the Mortgage Meltdown (June 2008), in addition to being the target of mortgage [...]
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From the Ramparts
Junious Ricardo Stanton
2010 Predictions
“For the moment it seems clear that economic performance in general and the labor market in particular will get substantially worse before they get better. As the country looks for any sign of encouraging economic news, it’s important to not set standards too low. As [...]
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By Devona Walker, The Loop
Predatory lending practices have not only led to the collapse of the U.S. and global financial markets, but also represent the most massive loss of wealth for African Americans in U.S. history.
The nonprofit United for a Fair Economy in a study called Foreclosed: [...]
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DIANE ABBOTT
Sunday, March 23, 2008
All over the world we are watching spellbound as the American economy goes through its turmoil. As major banks like Bear Stearns crash and Wall Street totters, we all know that our own economies will inevitably be affected. At the heart of the current financial mayhem are sub-prime mortgages. People who [...]
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By Nisa Islam Muhammad
Staff Writer
Updated Jan 28, 2008, 11:06 pm
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Posted on January 19th, 2008 in Americas by adminAs the nation prepares to commemorate Martin Luther King Day, the Economic Policy Institute warned that a national economic recession will result in disproportionately high unemployment rates for African Americans unless Congress enacts an emergency program to reduce joblessness and restore working people’s purchasing power.
“When white [...]
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Forty years after the Civil Rights Era, African-Americans are falling further behind whites economically.
And that’s just one of the myriad ways that parents pass their economic status onto their children. Conley concluded: “When you are talking about the difference between financing their kid’s college education, starting a new business, moving if they need to move [...]
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