White Wealth and Black Debt Shot Up in ‘Growth’ Years

by Kai Wright on May 17 2010, 3:22PM

The wealth gap between Blacks and Whites has grown by fourfold over the course of Generation X’s lifetime, exploding to $95,000, a study released today found. And the debt burden among African American families has nearly doubled. The study comes…

Topics: Economy

California’s Homeless Farm Workers

by Daisy Hernandez on May 13 2010, 2:44PM

New America Media’s Jacob Simas posted a heartbreaking story and video yesterday about farm workers in Fresno who are creating makeshift homes of tarp and garbage bags in the same fields they once harvested. The fields have been abandoned…

Topics: Economy

Will Banks Be Held Accountable to Communities? [Video]

by Kai Wright on May 3 2010, 10:41AM

Last week, Senate Democrats managed to get their financial reform bill past the Republican blockade. Floor debate on the bill, which would create a consumer protection bureau inside the Federal Reserve, will move forward this week, and the Senate’s…

Topics: Economy

Goldman Sachs Looks Slimy, But It’s Not Alone

by Kai Wright on April 27 2010, 4:00PM

Sen. Carl Levin’s series of hearings on Wall Street’s collapse reached their dramatic climax today, as Goldman Sachs executives sat in for their roles as national punching bags. Everybody from Levin to Sen. John McCain got in on the…

Topics: Economy

What’s at Stake in This Week’s Financial Reform Debate

by Kai Wright on April 26 2010, 9:10AM

The financial reform fight takes center stage on the Senate floor tonight, and likely all week. It is, of course, a dense, complicated and frankly boring bit of public policy. It’s also deeply consequential for communities of color everywhere. We’ll…

Topics: Economy

Regulators Who Ignored Banks’ Predatory Lending

by Kai Wright on April 16 2010, 2:27PM

Sen. Carl Levin spent the morning lashing into former banking regulators who were supposed to have prevented Washington Mutual’s spectacular 2008 failure, which was the largest-ever bank collapse. It’s now clear both the bank and federal regulators knew the subprime…

Topics: Economy

Senate Okays Unemployment Benefit Extension, and Gets Ready to Bungle it All Over Again Next Month

by on April 13 2010, 9:30AM

After an afternoon of long-winded speeches from both sides of the aisle, the Senate voted to move forward with the extension of unemployment benefits. The vote comes after the Senate failed to pass an extension before going on break more…

Topics: Economy, Race and Recession

Republicans Blame the Unemployed for Unemployment, and Block Needed Benefits

by on April 12 2010, 1:10PM

It’s been a week since more than 200,000 people were booted off unemployment insurance, because the Senate failed to extend the program before taking a vacation. Senate leadership has promised to take up the issue today but Republicans are showing…

Topics: Economy

Workers Tell Senators What They Think About Its Failure [VIDEO]

by Kai Wright on April 9 2010, 10:36AM

The Senate gets back to work next week after its spring break and the opening fight will almost certainly be over unemployment insurance. Before they adjourned, Senators failed to pass a short-term extension of the program — which the…

Topics: Economy, Race and Recession

White House Urges Senate to Pass $600 million Jobs Bill

by Jamilah King on April 8 2010, 3:33PM

We briefly mentioned this morning that the White House has thrown its support behind a $600 million jobs bill that’s currently stalled in the Senate. Advocates say the bill could create as many as 300,000 jobs for low income…

Topics: Economy, Race and Recession

Pushed Out and Pushing Back in New Orleans

Pushed Out and Pushing Back in New Orleans

by Tram Nguyen on April 7 2010, 12:00PM

Housing crisis? Corporate giveaways? It’s already happened in the Big Easy. There, out of demolitions and displacement, has come a new demand: housing as human right.

Topics: Economy, Katrina Recovery

New Job Numbers: More of the Same and Then Some

by on April 5 2010, 11:18AM

New unemployment numbers were released Friday and by some measures, the unemployment crisis appears to be waning. But for Blacks and Latinos, there is no relief at all. The new figures expose that the country’s jobless recovery is fueled by…

Topics: Economy, Race and Recession

Banks Garnish Wages, Folks of Color Hit Hardest

by Jamilah King on April 2 2010, 3:01PM

The New York Times recently reported more shady swindling on the part of banks and creditors: they’re garnishing wages from delinquent borrowers. “One of the worst economic downturns of modern history has produced a big increase in the number…

Topics: Economy

A Black Agenda That Works for Everyone: Jobs and ‘Targeted Universalism’

by Michelle Chen on April 1 2010, 8:00AM

Every year, the National Urban League issues its report on the State of Black America, and it almost inevitably shows that black Americans fare worse than whites in almost every measure of socioeconomic well-being. Black workers and households are poorer,…

Topics: Economy, Race and Recession

The Violence of a Recession

by Daisy Hernandez on March 31 2010, 12:00PM

Our economic crisis is about a lot more than lost jobs and evaporating 401Ks. It’s closing off options for women in abusive relationships. 

Topics: Economy, Gender & Sexuality

The Morning Browse: Green Jobs Build Communities, WashPost Wilding Out and Wealth Gaps

by Kai Wright on March 24 2010, 9:52AM

ColorLinesTV profiles three green jobs projects that show how we can end the jobless recovery while tackling long-standing challenges in communities of color. NYT profiles the big idea that health insurance reform is part of President Obama’s effort to…

Topics: Economy, Environment, Media, Race and Recession

The Morning Browse: Noose Faxes, GOP’s Immigration Rhetoric, and More

by Kai Wright on March 23 2010, 9:37AM

Visit for breaking news, world news, and news about the economy The Tea Party onslaught continued yesterday as Rep. James Clyburn told Keith Olbermann about noose faxes to his office - “This stuff is not all that isolated.” GOP…

Topics: Economy, Environment, Health, Immigration, Politics

The Morning Browse: Big Stuff in Today’s News

by Kai Wright on March 16 2010, 6:25AM

The evil ad wizards who brought us Willie Horton are tying Sen. Majority Leader Harry Reid to Dubai “slave labor,” which they in turn equate with union labor in Nevada. MoJo’s Stephanie Mencimer reports. The FCC’s releasing it’s National…

Topics: Criminal Justice, Economy, Health, Politics, Race and Recession

Parsing the Details of Dodd’s Not-Independent Consumer Watchdog

by Kai Wright on March 15 2010, 2:23PM

Sen. Chris Dodd came out swinging today to defend his revamped proposal for fixing the financial regulatory system, and he’s won cautious support from some key reformers. Bailout watchdog Elizabeth Warren, who has been the most vocal Beltway advocate of…

Topics: Economy, Race and Recession

Senate Financial Reform Bill Leaves Communities at Lenders’ Mercy

by Kai Wright on March 15 2010, 8:52AM

Retiring Sen. Chris Dodd is rolling out his revised bill for reforming financial regulations today and the general consensus is… it’s a bust. Dodd broke off negotiations with Republicans on the Banking Committee last week, raising hopes that he’d craft…

Topics: Economy, Race and Recession