Skip to main content

Economic Crisis Hitting African Americans Hardest

  • Author:
  • Updated:

By Ben Cohen

With the economy in turmoil, the biggest losers are not the incompetents responsible for the mess, but the least well off in society.

African American wealth is mostly made up of house equity, and given the subprime mortgage disaster, much of it is now disappearing. The Government is busy bailing out failing banks and ensuring their CEOs get huge pay offs, but is conspicuously no where to be seen when it comes to regular people. In 2005, the government allowed black people to drown in front of their eyes in New Orleans. In 2008, it is happening again - but this time, the media isn't even covering it.