On Monday, President Obama ordered federal agencies to stop asking most prospective employees about their criminal histories at the beginning of the application process.
For too long, Americans seeking to re-enter the workforce and make an honest living have had job opportunities taken away because of an honest answer on an application--an honest answer about a crime for which they have already paid the price.
There’s recourse available to people who find themselves in cycles of unpayable debt; it’s called bankruptcy. Unfortunately for student debtors, education loans are exceedingly difficult to discharge in bankruptcy, which makes little sense in an era where college is unattainable for most without student loans, and where student debt is the highest form of non-mortgage debt in the economy.
Doing “everything right” — making all the optimal life choices to build wealth and get ahead, despite obstacles — is still not enough for black and Latino households to accumulate as much wealth as their white counterparts.
For those who believe Black people are already equal with white people, any policy that seeks to address anti-Black discrimination looks like an attempt to give Blacks an advantage.
Many Americans believe that we have achieved black-white racial economic equality, but the data continue to show that we have a long way to go. For centuries, we have had policies to help white families build wealth at the expense of black families.
Last summer, on her final day as the Chairman of the FDIC, Shelia Bair decried the short-termism that has overtaken both Wall Street and Washington, where “[o]ur financial markets remain too focused on quick profits, and our political process is driven by a two-year election cycle and its relentless demands for fundraising.” This short-termism has taken hold of the reins of our larger political system and increasingly characterizes policy initiatives at every level of government.
