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

[I Really Mean It]

Bootlickers gon avoid this thread like the plague

nah. they will come and give their characteristically tired and patronizing rationalizations of why black people shouldn’t have looked to obama for help with their systemic grievances.

 

[Mike809]

Am I reading the charts wrong or was there a dip across all races in 2008? Not just the black race.

 

[that guy]

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)

Didn’t sign anything into law to help black families meanwhile the banks were specifically targeting black families with predatory subprime loans. Textbook systematic racism.

 

[North of Death]

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

Powerful posting bruh.....very eloquently stated and factual

 

[the elastic]

Congratulations, you owned the libs


Now what

 

[bourgeoisie tall freak]

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

Justice Department Reaches Settlement with Wells Fargo Resulting in More Than $175 Million in Relief for Homeowners to Resolve Fair Lending Claims

The Department of Justice today filed the second largest fair lending settlement in the department’s history to resolve allegations that Wells Fargo Bank, the largest residential home mortgage originator in the United States, engaged in a pattern or practice of discrimination against qualified...

www.justice.gov

"The Department of Justice today filed the second largest fair lending settlement in the department’s history to resolve allegations that Wells Fargo Bank, the largest residential home mortgage originator in the United States, engaged in a pattern or practice of discrimination against qualified African-American and Hispanic borrowers in its mortgage lending from 2004 through 2009.

The settlement provides $184.3 million in compensation for wholesale borrowers who were steered into subprime mortgages or who paid higher fees and rates than white borrowers because of their race or national origin. Wells Fargo will also provide $50 million in direct down payment assistance to borrowers in communities around the country where the department identified large numbers of discrimination victims and which were hard hit by the housing crisis.

Additionally, Wells Fargo has agreed to conduct an internal review of its retail mortgage lending and will compensate African-American and Hispanic retail borrowers who were placed into subprime loans when similarly qualified white retail borrowers received prime loans. Compensation paid to any retail borrowers identified in the review process will be in addition to the $184.3 million to compensate wholesale borrowers who were victims of discrimination."

 

[North of Death]

Am I reading the charts wrong or was there a dip across all races in 2008? Not just the black race.

Everyone dipped in 2008...The issue is the recovery, specifically starting in 2012...Black folk never recovered within the Obama era while every other race did

 

[North of Death]

Justice Department Reaches Settlement with Wells Fargo Resulting in More Than $175 Million in Relief for Homeowners to Resolve Fair Lending Claims

The Department of Justice today filed the second largest fair lending settlement in the department’s history to resolve allegations that Wells Fargo Bank, the largest residential home mortgage originator in the United States, engaged in a pattern or practice of discrimination against qualified...

www.justice.gov

"The Department of Justice today filed the second largest fair lending settlement in the department’s history to resolve allegations that Wells Fargo Bank, the largest residential home mortgage originator in the United States, engaged in a pattern or practice of discrimination against qualified African-American and Hispanic borrowers in its mortgage lending from 2004 through 2009.

The settlement provides $184.3 million in compensation for wholesale borrowers who were steered into subprime mortgages or who paid higher fees and rates than white borrowers because of their race or national origin. Wells Fargo will also provide $50 million in direct down payment assistance to borrowers in communities around the country where the department identified large numbers of discrimination victims and which were hard hit by the housing crisis.

Additionally, Wells Fargo has agreed to conduct an internal review of its retail mortgage lending and will compensate African-American and Hispanic retail borrowers who were placed into subprime loans when similarly qualified white retail borrowers received prime loans. Compensation paid to any retail borrowers identified in the review process will be in addition to the $184.3 million to compensate wholesale borrowers who were victims of discrimination."

You missed the fukkin point....This aint about bread crumb settlements that doesnt address the core issues of wealth disparity between Blacks and whites during his presidency... this is about policies that Obama propagated that helped depress Black wealth during his era...You posting this dumb shyt is equal to saying he did something for criminal justice just because he let a few criminals out of prison while the war on drugs (Blacks) is still alive and better than ever.

 

[Sbp]

nah. they will come and give their characteristically tired and patronizing rationalizations of why black people shouldn’t have looked to obama for help with their systemic grievances.

You mean "He wasn't the president of Black America!!!" They right about that that muhfukka showed us he wasn't.

 

[bourgeoisie tall freak]

You missed the fukkin point....This aint about bread crumb settlements that doesnt address the core issues of wealth disparity, this is about policies that Obama propagated that helped depress Black wealth.

then dont dikk eat a guy that i replied to that was talking about a single factor involved caused by third parties that the obama administration resolved and not the "whole issue of wealth disparity"

you dikk rode his point that i refuted and now you are mad, that's on you. just say you dont like dude and keep crying

 

[2 Up 2 Down]

2008 market crash hurt black folks the most. Obama just so happened to get elected that year also

 

[North of Death]

2008 hurt black folks the most.

We never recovered..and I fear we never will recover...Folk got their head up their ass with surface level bread crumbs smh

 

[North of Death]

then dont dikk eat a guy that i replied to that was talking about a single factor involved caused by third parties that the obama administration resolved and not the "whole issue of wealth disparity"

you dikk rode his point that i refuted and now you are mad, that's on you. just say you dont like dude and keep crying

so tell me, what problem did the settlement solve as it pertains to Black wealth?

 

[that guy]

then dont dikk eat a guy that i replied to that was talking about a single factor involved caused by third parties that the obama administration resolved and not the "whole issue of wealth disparity"

you dikk rode his point that i refuted and now you are mad, that's on you. just say you dont like dude and keep crying

You didn’t refute anything. You couldn’t even articulate a point. All you did was copy and paste an article
When did the Obama administration resolve suprime predatory lending towards black people? try not to copy and paste this time.

 

[that guy]

so tell me, what problem did the settlement solve as it pertains to Black wealth?

He can’t tell you, that’s why all he did was copy and paste the article.