Destruction Of Black Wealth During The Obama Presidency – People’s Policy Project
▻http://peoplespolicyproject.org/2017/12/07/destruction-of-black-wealth-during-the-obama-presidency
The paper finds that while President #Obama had wide discretion and appropriated funds to relieve homeowners caught in the economic crisis, the policy design his administration chose for his housing program was a disaster. Instead of helping homeowners, at every turn the administration was obsessed with protecting the financial system — and so homeowners were left to drown.
As a result, the percentage of black homeowners who were underwater on their mortgage exploded 20-fold from 2007 to 2013.