“The median wealth of white households is 20 times that of black households and 18 times that of Hispanic households, according to a Pew Research Center analysis of newly available government data from 2009. These lopsided wealth ratios are the largest since the government began publishing such data a quarter century ago and roughly twice the size of the ratios that had prevailed between these three groups for the two decades prior to the Great Recession that ended in 2009. The Pew Research analysis [by Rakesh Kochhar, Richard Fry and Paul Taylor] finds that, in percentage terms, the bursting of the housing market bubble in 2006 and the recession that followed from late 2007 to mid-2009 took a far greater toll on the wealth of minorities than whites. From 2005 to 2009, inflation-adjusted median wealth fell by 66% among Hispanic households and 53% among black households, compared with just 16% among white households.”
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Daily Archives: July 25, 2011
New GAO Reports: Criminal Cartel Enforcement, DOD and Cyber Activities, Millennium Challenge Corporation, Missing Children
Criminal Cartel Enforcement – Stakeholder Views on Impact of 2004 Antitrust Reform Are Mixed, but Support Whistleblower Protection GAO-11-619, July 25, 2011 DOD Faces Challenges In Its Cyber Activities, GAO-11-75, July 25, 2011 Millennium Challenge Corporation, Compacts in Cape Verde and Honduras Achieved Reduced Targets, GAO-11-728, July 25, 2011 Missing Children – DOJ Could Enhance… Continue Reading
Manhattan has the lowest percentage of seriously delinquent mortgages in New York City
Federal Reserve Bank of New York – Regional Mortgage Briefs: “While several zip codes have foreclosure rates more than two times the borough rate, even these rates are low relative to the rest of New York City. Also distinctive is Manhattans house price index, which has had relatively fewer years of annual decline. The boroughs… Continue Reading
White House: Strategy to Combat Transnational Organized Crime
Eric H. Holder, Jr. the Attorney General of the United States: The Strategy to Combat Transnational Organized Crime A White House Fact Sheet on the Strategy The Executive Order Blocking Property of Transnational Criminal Organizations A Presidential Proclamation: Suspension of Entry of Aliens Subject to United Nations Travel Bans and International Emergency Economic Powers Act… Continue Reading
Report – Google Street View cars grabbed locations of phones, PCs
CNET: “Google’s Street View cars collected the locations of millions of laptops, cell phones, and other Wi-Fi devices around the world, a practice that raises novel privacy concerns, CNET has confirmed. The cars were supposed to collect the locations of Wi-Fi access points. But Google also recorded the street addresses and unique identifiers of computers… Continue Reading
The Vanishing U.S.-E.U. Employment Gap
The Vanishing U.S.-E.U. Employment Gap, Christian Grisse, Thomas Klitgaard, and Ayşegül Şahin. Federal Reserve Bank of New York. “The employment-to-population ratiothe share of adults that are employedhas historically been much higher in the United States than in Europe. However, the gap narrowed dramatically in the last decade and had almost disappeared by the end of… Continue Reading
Patent Trolls
“Why would a company rent an office in a tiny town in East Texas, put a nameplate on the door, and leave it completely empty for a year? The answer involves a controversial billionaire physicist in Seattle, a 40 pound cookbook, and a war waging right now, all across the software and tech industries.” This… Continue Reading
Federal Reserve: Report to the Congress on Credit Ratings
Report to the Congress on Credit Ratings, July 2011 “Section 939A of the Dodd-FrankWall Street Reform and Consumer Protection Act (the act) requires each federal agency to review its regulations and identify (1) any regulation that requires the use of an assessment of the creditworthiness of a security or money market instrument and (2) any… Continue Reading
