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Hispanics and blacks counted housing equity as a much bigger part of their assets than whites. The recession and financial crisis of 2008 wiped out fully two thirds of the median net worth of Hispanic families and one half for Black families, with both groups having close to $6000 in total median net worth in 2010, according to data from Pew surveys.The recession has proved to be severe in its impact on minorities, and the election of a black president has done little to improve things- especially considering the dismal record of the Obama administration in helping prevent foreclosures.
Grouped Articles
Racial Wealth Gap Widened During Recession
New York Times 04/28/2013
A Toxic Subprime Mortgage Bond's Legacy Lives On
Wall Street Journal 09/13/2013
Obama, Empathy and the Midterms
New York Times 09/25/2010
The Case Against the Bernanke-Obama Financial Rescue
New York Times 05/16/2014
Economic Recovery Yields Few Benefits for the Voters Democrats Rely On
New York Times 05/19/2014
Geithner Book Reveals Consensus, Not VIsion, During Financial Crisis
New York Times 05/21/2014
U.S. president Obama says again that his approach in Syria and Iraq is working, without mentioning the millions of refugees and the refugee crisis in Europe, in an interview with National Public Radio. He says that Trump is exploiting working class white discontent about poor economic prospects, without mentioning the slipping economic condition of large parts of what was the middle class revealed in figures on median income and net assets, including by Janet Yellen at the Federal Reserve Bank of Boston conference on inequality in October 2014. At that conference one of the alarming figures cited was that the average net worth of the lower half of Americans representing 62 million households was $11,000 in 2013.
Grouped Articles
Obama Accuses Trump of Exploiting Working-Class Fears
New York Times 12/21/2015
The ‘hollowing’ of the middle class? - The Washington Post
Washington Post 01/04/2016
Obama Urges Journalists to Cover the Substance of the Campaign
New York Times 03/28/2016
Trump Rhetoric Poses Dangers to American Democracy - SPIEGEL ONLINE
SPIEGEL ONLINE 10/19/2016
O'Malley, Sanders and Clinton emphasize this issue in the debate.
Grouped Articles
The CNN Democratic debate transcript, annotated - The Washington Post
Washington Post 10/14/2015
Democrats Say the Economy Stinks
Wall Street Journal 10/15/2015
Clinton, judged winner of debate, holds big national lead over Sanders - The Washington Post
Washington Post 10/20/2015
Not There Yet on Equal Opportunity
Wall Street Journal 10/21/2015
Washington Post 10/23/2015
Paris massacre could alter the 2016 presidential race in this country - The Washington Post
Washington Post 11/15/2015
The Fed chairman tells a Boston Fed conference on inequality that it is fair to ask whether equal opportunity on which Americans place importance is not a part of core American values.
Grouped Articles
Fed’s Yellen Says Extreme Inequality Could Be Un-American
Wall Street Journal 10/17/2014
Janet Yellen Warns of Inequality Threat
New York Times 10/17/2014
How Quantitative Easing Contributed to the Nation's Inequality Problem
New York Times 10/22/2014
Yellen Goes on Road to Investigate Health of the Jobs Market
New York Times 10/16/2014
Yellen’s First Year at Fed: A Remarkably Steady Course
New York Times 12/22/2014
Income Inequality Is Costing the U.S. on Social Issues
New York Times 04/28/2015
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