Show Details for January 20th, 2008

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This week’s Guests:

 —  AMAAD RIVERA on who got hit by the subprime loans


 —  Investigative reporter DAVE LINDORFF on the proposed economic stimulus, & more

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— AMAAD RIVERA on who got hit by the subprime loans

 


Monitor co-host Pokey Anderson will talk with AMAAD RIVERA about a new report he co-authored. 
 
“Foreclosed: State of the Dream 2008” examines the racial bias of the subprime mortgage lending crisis, and the resulting huge wealth loss to people of color that has resulted. The report (p. 7) states:

— “Two million additional homes are expected to foreclose in the coming year.”


— “People of color are more than three times more likely to have subprime loans: high-cost loans account for 55% of loans to Blacks, but only 17% of loans to Whites.” 


— “We estimate the total loss of wealth for people of color to be between $164 billion and $213 billion for subprime loans taken during the past eight years. We believe this represents the greatest loss of wealth for people of color in modern US history.”
 
Amaad is the director of the Racial Wealth Divide Program at United for a Fair Economy (UFE) (www.faireconomy.org).  United for a Fair Economy raises awareness that concentrated wealth and power undermine the economy, corrupt democracy, deepen the racial divide, and tear communities apart.
 
Amaad has been deeply involved in the community, from founding the KidsVote Initiative in Holyoke, MA to participating in a delegation to Puerto Rico of academics and community leaders in exploring contemporary and historical barriers to economic mobility of Puerto Ricans in Holyoke. Before coming to United for a Fair Economy, Amaad served as AmeriCorps Program Officer, co-managing their grants process and portfolio at the Massachusetts Service Alliance. 
 
Amaad serves on several boards, including Gay, Lesbian, and Straight Educators Network. He is a contributing blogger at the Movement Vision Lab www.movementvisionlab.org.  He is pursuing his masters’ degree in Education, with a concentration in Social Justice, at the University of Massachusetts at Amherst. 
 
REPORT:
“Foreclosed: State of the Dream 2008”
By Amaad Rivera, Brenda Cotto-Escalera, Anisha Desai,
Jeannette Huezo, and Dedrick Muhammad
United for a Fair Economy
January 2008
http://www.faireconomy.org/files/StateOfDream_01.16.08_Web.pdf
 
WEBSITE:
United for a Fair Economy  — www.faireconomy.org
 
ARTICLE:
“Let America be American Again: Racial Wealth Equity”
December 18, 2007
by Amaad Rivera
Huffington Post
http://www.huffingtonpost.com/amaad-rivera/let-america-be-american-a_b_77417.html
 
QUOTE from above article:
“It was found that the top richest 10% of the world’s population owns 85% of the world’s wealth in a report released in December of 2006 by the Helsinki-based World Institute for Development Economics Research of the United Nations University. In the United States alone, the top 10% owns approximately 76% of all wealth.”
 
QUOTE:
“We can have democracy in this country, or we can have great wealth concentrated in the hands of a few, but we can’t have both.” — Louis Brandeis, Supreme Court Justice (1916-1939)
 
 
 Investigative reporter DAVE LINDORFF on the proposed economic stimulus, fear-mongering & more
 
 
Our second guest tonight will be award-winning investigative reporter DAVE LINDORFF.  Monitor co-host Pokey Anderson will talk with him about the proposed economic stimulus, developments in the New Hampshire primary, about fear-mongering, and other topics.

Dave has been working as a journalist for 34 years. A regular columnist for CounterPunch, he also writes frequently for Extra! and Salon magazine, as well as for Businessweek, The Nation and Treasury&Risk Magazine. He has also written for Rolling Stone, Mother Jones, and other publications.

In the late 1970s, he ran the Los Angeles Daily News bureau covering Los Angeles County government, and in the mid-’90s, spent several years as a correspondent in Hong Kong and China for Businessweek.

Dave Lindorff’s latest book, coauthored with Barbara Olshanshky, is “The Case for Impeachment: The Legal Argument for Removing President George W. Bush from Office (St. Martin’s Press, May 2006).  

A two-time Fulbright Scholar, Dave is a graduate of the Columbia University Graduate School of Journalism, and has a B.A. in Chinese from Wesleyan. In October 2004, he was awarded a coveted “Most Censored Story of 2003” award by Project Censored.  Dave is also an accomplished folk musician (guitar, vocals and saw).  He lives outside Philadelphia.
 
BOOKS by DAVE LINDORFF:
“The Case for Impeachment:
The Legal Argument for Removing President George W. Bush from Office” (coauthored with Barbara Olshanshky)
“This Can’t Be Happening! Resisting the Disintegration of American Democracy”
“Killing Time: An Investigation into the Death Penalty Case of Mumia Abu-Jamal”
 

ARTICLES:
“The Government is Scaring Us To Death”
January 15, 2008
Dave Lindorff
http://www.thiscantbehappening.net./?q=node/97

QUOTE:  “The New York Times, in its science section today, reports that a new study published in the Archives of General Psychiatry has found that while the risk to Americans of dying at the hands of a terrorist was roughly equal to the chance of “drowning in a toilet,” the risk of cardiovascular disease among people who are frightened about the threat of terrorism is 300-500% higher than for people who are not worried.”
 

RELATED ARTICLES:
“Stimulate This: Why the Talk of Economic Stimulus Will Remain Talk”
by Danny Schechter
Friday, January 18, 2008
CommonDreams
http://www.commondreams.org/archive/2008/01/18/6449/
 
“Overseas Investors Buy Aggressively in U.S.”
By Peter S. Goodman and Louise Story
January 20, 2008
New York Times

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