Urban News Features

Too Late to Ask? By Julianne Malveaux

July 3, 2016

Too Late to Ask?

By Julianne Malveaux

(TriceEdneyWire.com) - The day after 52 percent of the people who voted that Britain should leave the European Union, Google was deluged with questions. The most common – what is the European Union? That suggests that the people who voted to leave the European Union didn’t even know what it was. They didn’t know that financial institutions, headquartered in London, might shut down their offices because they would lose the advantage they had by considering London a European banking center. They didn’t know that thousands of jobs now based in London might migrate to Paris or Brussels because international banks wanted European centers of commerce, not simply British centers. They didn’t expect that the value of the pound would plummet. They didn’t know.

Instead, they responded emotionally to those who encouraged them to vote to leave the EU. They responded to the notion that immigration was their enemy, and that people were “taking their jobs”. They responded to an ugly divisiveness, and they voted to protect themselves. They didn’t know that their protectionism might leave them more vulnerable than ever. Now they know. The European Union has asked the UK to speed up the inevitable separation, even as more than 2 million Brits are, by petition, asking for a “do over”, a second referendum. Few have patience for the remorseful second-guessing after the unnecessary Brexit vote. Prime Minister Cameron, after all, chose to sell a bunch of wolf tickets when he called for the referendum. His egotism has had an ugly outcome, and an unnecessary one. The vote need not have taken place.

Brexit has implication in the United States. The callous excoriation of immigrants made it possible for too many Brits to vote against their own self-interest. Now, we see too many in the USA leaning toward Donald Trump because he says he will make America great again. Great for whom? Great how? In going back to the past is Mr. Trump harking to the Leave it to Beaver 1950s days when independent women were invisible, and people of color hardly showed up. I’d love someone to remind me of any episode where Leave it to Beaver had a black actor. Ha! When we go back to our nation’s “old greatness”, we go back times when women and people of color were, at best, invisible.

Thanks to Brexit, the world will experience more financial instability than it has experienced in the last decade or so. The stock market will fluctuate, and then settle, and some folks will find their 401k accounts dropping, and then recovering in a month or so. Interest rates will fall, but that really only matters in the short run, and with those who are managing stock markets. While it is impossible to predict the outcomes of the Brexit vote, it is surely possible to speak to the financial instability that is a byproduct of the Brexit vote. The short-term implications don’t specifically affect United States shareholders (although those invested in the UK will see more immediate losses). In the longer run, the fracturing of the EU collective has financial implications for all world stakeholders.

There is a parallel between that which has happened in the UK and that which has happened in the US. Voters in the UK were goaded into voting “leave” even though too many knew that staying was the better choice. In the US, we have a demogauge who is exhorting people to “leave” our diversity reality by embracing his cause and conveying his vote. The media has been an unindicted co-conspirator on this Trump crusade, because he has garnered far more visibility than he deserves. But his message resonates, even as the “leave” message resonated in the UK.

People aren’t asking the critical questions. Why has Trump refused to release his tax returns? Why does he promise charitable contributions that he does not honor? Why are the Trump products manufactured in China, even as he decries outsourcing?

Will we, in these United States, start Googling Trump after he is nominated? Will we wait until it is too late to ask about the Trump peccadilloes? Will asking late provide us with the same buyer’s remorse that those in the UK are now experiencing? Will our protest vote express our angst and also place an ill-equipped man into our nation’s leadership? Will we ask the most important questions when it is way too late?

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Julianne Malveaux is an author and economist based in Washington, D.C. Her latest offering “Are We Better Off? Race, Obama and Public Policy is available via Juliannemalveaux.com or Amazon.com

New Momentum on Common Sense Gun Reform By Marc H. Morial

July 3, 2016

To Be Equal
New Momentum on Common Sense Gun Reform
By Marc H. Morial

(TriceEdneyWire.com) - “The question before us is, what is this Congress waiting for? Over the last 12 years, gun-related crimes claimed more American lives than AIDS, war, and illegal drug overdoses combined. Since Newtown, tens of thousands of lives have been lost to this deadly crisis. The number of bills that have been debated and passed by this Congress to prevent such deaths is zero.” — House Democrats Letter to House Speaker Paul Ryan, June 2016

It has been more than three years since a gunman walked into Sandy Hook Elementary School and killed 20 first-graders and six adults. Since that time, according to the Gun Violence Archive, there have been over 900 mass shootings in our country, killing over 1,000 people and wounding thousands more. By the way, those sobering statistics include the 49 people killed and 53 wounded at the Pulse nightclub, along with 27 other less-publicized mass shootings that have happened since the carnage in Orlando—which currently holds the distressing distinction of being the deadliest mass shooting on our nation’s soil.

Like many Americans, I am left to wonder: when will enough be enough? How much more innocent blood needs to be shed; how many more lives must be horrifically—and needlessly—wiped away; and just how many more justifications are left in this seemingly bottomless well of excuses to pardon federal inaction on common sense gun reform as the disease of mass gun violence continues to fester?

In the wake of the latest, deadliest mass shooting, Republicans in Congress called for a moment of silence, while Democrats clamored for long-overdue change. The momentum for change began with Senate Democrats, led by Sen. Chris Murphy and joined by two Senate Republicans, who launched a filibuster calling for congressional action on gun reform. Senate Democrats wanted votes on two resurrected proposals: an amendment to prevent people on the government’s terrorism watch list from buying guns and another on expanding background checks. Senate Democrats were victorious in their fight. Votes will be allowed on the proposals, but these proposals have been debated and voted on before—and both failed. Days after a gunman opened fire in a crowded nightclub, House Speaker Paul Ryan called for a now all-too-familiar moment of silence. While a handful of Democrats walked out, boycotting the moment of silence, another group, led by Rep. John Lewis, a veteran of our country’s civil rights movement, walked onto the floor of the House and declared that, yes, enough is indeed enough.

“We were elected to lead, Mr. Speaker. We must be headlights, and not taillights. We cannot continue to stick our heads in the sand and ignore the reality of mass gun violence in our nation. Deadly mass shootings are becoming more and more frequent. Mr. Speaker, this is a fact. It is not an opinion. We must remove the blinders. The time for silence and patience is long gone,” he said before he, and fellow Democrats, borrowed a 20^th century tactic to address our 21^st century dilemma of mass shootings and occupied and House floor with a sit-in, demanding that the House take a vote on gun violence prevention legislation.

To be sure, for many of us, there is healing and national reflection to be found in vigils, memorials and moments of silence, but there are lives to be saved when we act. The families and friends of these innocent victims should be attending birthday parties, graduations and weddings—not unplanned funerals. Symbolism and sympathy can no longer be the extent of what our elected officials have to offer a nation gripped in needless gun violence.

This new momentum on safety has moved beyond the halls of Congress. The Supreme Court recently upheld a federal law that keeps people convicted of domestic violence from owning guns. The families of the victims of the Sandy Hook gun massacre are suing Remington Arms and other gun manufacturers for selling the gun used by the killer to take the lives of their loved ones. Perhaps we, as a nation, have reached a critical tipping point? Perhaps the massacre in Orlando will push us to look at common sense ways to reduce gun violence? How can anyone argue that not putting guns in the hands of known abusers or people who are on terrorism watch lists puts the rights of legitimate gun owners at risk?

There is more we can and must do to reduce gun violence in our country, like banning AR-15-type weapons from civilian ownership or requiring all gun buyers to undergo a background check—no matter where or how they purchase a gun—and we can all join in that effort. One sit-in does not a victory make. The struggle for common sense gun reform is far from over. We can all do more than agree we need change—we can make it. Call your representatives, sign petitions, be impatient about sweeping laws that allow guns to get into the wrong hands into the legislative dustbin. Let’s remember, respect and honor the victims of mass shootings by saving future lives.

26 Hours By Dr. E. Faye Williams, Esq.

July 3, 2016

26 Hours
By Dr. E. Faye Williams, Esq.

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(TriceEdneyWire.com) – "There comes a time when one must take a position that is neither safe nor politic nor popular, but he must take it because his conscience tells him it is right."
Dr. Martin Luther King, Jr.

By 1960, the Civil Rights Movement had gained significant momentum. It seemed as though most of "Thinking America" recognized that the long-held "social contract" that relegated African American citizens to subordinate citizenship was doomed to die an ignominious death. Those of us on the 'right side' of history knew that the death of Jim Crow was inevitable.

Although slow and open to criticism, nonviolence, as a tactic of social change, proved effective. One of the most effective of nonviolent tactics was the "Sit-In." Passive activists who physically sat down and confronted oppressive conditions in a thoughtful and peaceful manner were, most often, met with vile, violent, and reprehensible racist behavior. If a physical attack occurred, activists would fall to the floor and curl-up in a fetal position. Despite this treatment, activists sat and peacefully suffered through the attacks.

With the modernization of the media, the entirety of America and the world were able to witness this violence on the "Evening News." These images were antithetical to the character of the US that was projected abroad and, moreover, brought shame to the majority of Americans who had chosen a position of silence or inaction on the matter of Civil Rights. 'Moral authority' accrued to the activists.

For 26 hours last week, we once again saw the tactic of the Sit-In used. This time it was used on the floor of the US House of Representatives. The cause this time - bringing attention to the question of voting on legislation designed to reduce gun violence. Its leader was Congressman John Lewis, a veteran of The Movement.

In simple terms, in the wake of the Orlando, FL massacre, House Democrats wanted action on an up or down vote on a measure that would restrict individuals on the Federal "No-Fly" list from being able to purchase firearms. Incredibly, earlier in the week, Republicans in the Senate defeated a similar measure which left advocates for gun laws reform stupefied. Senate rejection of this measure caused a furor and the renewed call for action in "The People's House."

Reminiscent of the 1960's, the immediate response from those at cross-purposes with those sitting on the House floor was condemnation of the action. Speaker Paul Ryan vigorously rejected the actions of the Democrats, declared it to be a political stunt, adjourned the session, and ordered television feeds from the House to shut down. Ryan essentially pulled the plug on any reasonable discourse on a problem of extreme magnitude to the nation.

Witnessing Ryan's response, I reflected and compared his response to those of "Bull" Connor and his ilk, who, rather than using reason, would crush any attention given to the matter. Technology prevailed and a video feed was established for the modern-day activists.

The issue of gun control is one of the most polarizing in this nation and engages all manner of political, corporate, and organizational interests. History shows there are no simple answers to the myriad of questions that arise from this issue. Whatever position is taken on this matter, it can’t be addressed without the commencement of dialogue purposed with a genuine interest in correcting current ills for the benefit of the entire nation.

For 26 hours, Congressman John Lewis led a concerted effort of Democratic legislators in an historic sit-in designed to force action by highlighting the lack of action on a life or death issue. He’s quoted as saying, "The time for silence is over." As in agreement from our past, Dr. King said, "There comes a time when silence is betrayal."

(Dr. E. Faye Williams is National President of the National Congress of Black Women. 202-678-6788. www.nationalcongressbw.org)

What Clinton Better Learn From Brexit Vote By Jesse Jackson

July 3, 2016

What Clinton Better Learn From Brexit Vote
By Jesse Jackson

(TriceEdneyWire.com) - Brexit — the stunning British vote to leave the European Union — is a clear and dramatic rebuke of the country’s political and economic elites. A majority voted to leave even though the heads of the United Kingdom’s two major parties, more than a thousand corporate and bank CEOs, legions of economists, the leaders of Europe and the United States, and the heads of the international financial organizations all warned of dire consequences if they did not vote to remain.

For Americans, one question is whether this result has implications for the 2016 presidential campaign. Political sea changes tend to cross national boundaries. Ronald Reagan’s election in 1980 tracked the rise of Margaret Thatcher to power in Great Britain. Bill Clinton’s New Democrats were mirrored by Tony Blair’s New Labour Party. So does Brexit presage the rise of Donald Trump in the United States?

The Leave campaign slogan — “Take back control” — is mirrored by Trump’s “Make America great again.” The same economic insecurities, the sense of the system being rigged, the racial fears and the anger at immigrants that fueled the Leave campaign have elevated Trump’s candidacy. Like Trump, the Leave campaign expressed its scorn for experts and politicians. Like Trump, the campaign told a clear story to voters about how they got in the fix they are in, and who is to blame.

In Britain, the vote divided along the lines of education, class and age. The better educated, more affluent and younger voted to stay. The less educated, less affluent and older voted to get out. Those campaigning to leave made appeals based on sovereignty, race and nativism. They campaigned against unaccountable bureaucrats and disdainful elites who rigged the system against working people. What surprised pollsters was the strong turnout by non-college educated, older working people, who lined up to register their discontent.

There is a clear warning here for Hillary Clinton. She is the quintessential establishment candidate, having been in Washington for the last 25 years. She has presented herself as a continuation of the Obama years. Her experience and expertise are universally acknowledged. But she is the candidate of the status quo at a time when people are looking for change.

Our political and economic elites tend to be in denial. They profit from globalization, take pride in the exercise of American power abroad, live in affluent communities, and often are closer to their international peers than to their poorer neighbors. They don’t see the America that has been ravaged by our ruinous trade policies. They avoid the killing streets of our impoverished urban neighborhoods. They were shaken by the Great Recession but largely have recovered. They don’t see that most Americans have lost ground over the course of this century. They simply don’t understand the scope of their failure to make this system work for working people — for the majority of Americans.

The Brexit vote showed that it is not enough to scorn the lies, exaggerations and divisive racial appeals of a demagogue. The Remain vote in Britain was explicitly a status quo vote — the EU isn’t great, it seemed to say, but it is what we’ve got and our elites and experts say change would be catastrophic. But when people feel that the elites have failed them, that the system has been rigged to favor the few, that things are getting worse, not better, the invocation of authority in defense of the status quo loses force. People want to know what you will do to make things better. You’ve got to be able to tell a more convincing story that explains how we got where we are, who is to blame and what can be done about it. This is a lesson that Clinton surely understands.

The Brexit vote also reveals the comparative strength of the Democratic coalition here in the United States. Young people in Britain voted overwhelmingly against leaving; young people here will not vote for Trump. Minorities and immigrants — a much smaller portion of the population in Britain — voted against leaving; minorities here will not vote for Trump’s racist politics. The question is only whether the young and minorities will turn out in large numbers or whether, uninspired, they will stay home in large numbers. Turning them out also requires a campaign that gives them hope for a change, not simply a promise of more of the same.

Brexit is a warning. There will be a reckoning. A divisive demagogue like Trump can profit in such times, but the politics of inclusion can beat the politics of division — but only by offering people a new deal that gives them hope.

Economic Power of Black and Other Consumers Limited by Low Knowledge About Credit By Hazel Trice Edney

June 28, 2016

Economic Power of Black and Other Consumers Limited by Low Knowledge About Credit
By Hazel Trice Edney

Steve Brobeck, Executive Director, Consumer Federation of America

Charlene Crowell, African-American/Latino Outreach Manager
Center for Responsible Lending

Barrett Burns, President/CEO, VantageScore Solutions

Ron Busby, President/CEO, U. S. Black Chambers, Inc.

(TriceEdneyWire.com) – Despite the level of economic destruction suffered by millions of Americans –and disparately by African-Americans – during the housing crisis, many people still have only basic knowledge of credit scoring rather than knowledge of the complexities still impacting their financial lives, according to a new survey.

“The good news is that consumers understand the basics of credit scores, such as the importance of making loan payments on time,” says Stephen Brobeck, executive director of the Consumer Federation of America (CFA), which recently released the results of its sixth annual credit score survey. “The bad news is that this knowledge is limited and, each year, can cost them hundreds of dollars in fees on services and additional interest on consumer loans,” he said in a release announcing the survey results.

Brobeck led a June 13th phone conference announcing the survey results. He said one of the most critical unknown facts about credit scores is that "low scores can add hundreds - even thousands of dollars - to your credit costs every year."

The results are not broken down by race, but financial experts indicate this lack of knowledge has more severely impacted African-Americans and Latinos since they already suffer more economic disparities than people of other races. Financial experts at the Durham-based Center for Responsible Lending (CRL) says racial minorities are often even targeted for financial abuse; then when their credit scores plummet, their financial lives become even more difficult.

“Every day working for CRL, I’m reading information about finances. And invariably from one issue to the next, Black people – Blacks and Latinos – are getting the short end of the stick. It’s just horrible,” says CRL spokeswoman, Charlene Crowell.

Among the findings of the CFA survey of 1,005 adults in April are as follows:

Consumers greatly underestimate the cost of low credit scores. Only 22 percent know that a low score, compared to a high score, typically increases the cost of a $20,000, 60-month auto loan by more than $5,000.
A significant minority do not know that credit scores are used by non-creditors. Only about half (53 percent) know that electric utilities may use credit scores (for example, in determining the initial required deposit), while only about two-thirds know that these scores may be used by home insurers (66 percent), cell phone companies (68 percent), and landlords (70 percent).
Over two-fifths think that marital status (42 percent) and age (42 percent) are used in the calculation of credit scores. (While these factors may influence the use of credit, how credit is used determines credit scores.)
Only about half of consumers (51 percent) know when lenders are required to inform borrowers of their use of credit scores – after a mortgage application, when a consumer does not receive the best terms on a consumer loan, and whenever a consumer is turned down for a loan.

Attaining the necessary knowledge about the financial world, including about credit scoring, can be the key to a new economic beginning, experts say. Ron Busby, president/CEO of the Washington, DC-based US Black Chambers Inc. says, “The number one, two and three concerns for Black businesses is access to capital.”

Some business credit difficultly has been related to historic discrimination against Black-owned businesses. But often times when seeking to attain credit, Busby said, “I do believe we just go unprepared.”

To help prepare communities and individuals with crucial information, the CFA has a credit knowledge quiz by which current or prospective borrowers can learn how much they don’t know, but also learn new, valuable information. The 12-question quiz can be found at creditscorequiz.org.

Other important credit information is also readily available on line, including personal credit scores, says Barrett Burns, president/CEO of VantageScore Solutions. VantageScore is a 10-year-old credit scoring model created by the three national credit reporting companies, Equifax, Experian and TransUnion, which aims to "address the economic realities" of the 21st century.

“Access to scores and to the tips and explanations that accompany them on many of the sites give consumers a better chance to understand their credit worthiness before applying for a loan,” Burns said on the phone conference. “These scores help consumers take charge of their credit profiles and to improve their credit scores before they seek credit and when they’re ready to apply for a loan these websites help consumers consider many different credit products side by side on an online dashboard allowing them to make more informed decisions.”

The national survey also revealed that millennials (18-34 year-olds) know less about credit scores than do generation-exers (35-51 year-olds). This indicates the need for early credit education. “On eight of nine key knowledge questions, gen-exers scored more highly than millennials,” the release states.

In a nutshell, the CFA survey advises consumers of all ages to “raise their credit scores or maintain high scores” by doing the following:

Consistently make loan payments on time every month.
Using a small portion of the credit available on a credit card.
Pay down debt rather than just moving it around, as well as not open multiple new accounts at the same time.
And check credit reports to make sure they are error-free by contacting annualcreditreport.com or by calling 800-322-8228.

Crowell concludes, “Whether it’s buying a car, buying a home, managing credit card debt, managing student loan debt, all of those things contribute to your credit scores. You don’t want to default on a loan, whether it’s a car or a home – you don’t want to do that.”