White people made extraordinary wealth and wage gains under Barack Obama...But Black folk lost wealth under Obama

North of Death

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Crackers ate good under Obama...Unfortunately the opposite is true for Black folk..

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Obama: 'I’m not the president of black America'​

By BYRON TAU
08/07/2012 02:26 PM EDT

President Obama addresses the criticism that he hasn't done enough for the black community in an interview with Black Enterprise magazine:

How do you respond to criticism that your administration hasn’t done enough to support black businesses?
My general view has been consistent throughout, which is that I want all businesses to succeed. I want all Americans to have opportunity. I’m not the president of black America. I’m the president of the United States of America, but the programs that we have put in place have been directed at those folks who are least able to get financing through conventional means, who have been in the past locked out of opportunities that were available to everybody. So, I’ll put my track record up against anybody in terms of us putting in place broad-based programs that ultimately had a huge benefit for African American businesses.

 

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Obama: 'I’m not the president of black America'​

By BYRON TAU
08/07/2012 02:26 PM EDT

President Obama addresses the criticism that he hasn't done enough for the black community in an interview with Black Enterprise magazine:



Is black America not a part of the United States of America? :skip:
 

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Can someone educated on this matter provide an explanation explaining causes for the dip in black wealth during that time period?
Its simple, his econmoic proposals and policies that he signed into law was very beneficial for corporations and the already wealthy...He did not sign into law any polcies that address the Black working class in this country..Yea you will get alot of his bootlickin supporters who will cite surface level things...But when we get down to the nitty gritty, the result of his polcies are an exceleration to zero wealth for Black American by 2050 (perhaps sooner)
 

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Can someone educated on this matter provide an explanation explaining causes for the dip in black wealth during that time period?
What a lot of people don’t talk about The housing market crash that caused the Great Recession of 2008 was that banks largely targeted black people with predatory subprime loans. Banks like Wells Fargo literally had terms like “mud people” for black people and specifically targeted elderly black people in churches.

When Obama signed the bailouts into law there was nothing in writing specifically targeted towards black Americans the same way they targeted black families with predatory loans. As a result, white families were able to build even more wealth while black people lost what little wealth they had
 
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