Five months ago, our nation was made host to a virulent, deadly visitor, brought to this continent surreptitiously. A new virus, uncovered in China, unsparing in occurrence.
Now we are engaged in a great experiment, testing whether any nation with fearsome, monstrous divisions based on race and wealth, can survive in the face of such a disease. We have come to give our testimony while we still can, in an increasingly authoritarian environment. We do so to support the survival of all who participate in this society. We are writing not as people of wealth and privilege but as ordinary people, like the medical and public safety workers who gave their lives that this nation might live. As citizens of the world, we have an obligation to speak out. As citizens of the US, we have the right to do so.
We offer an independent viewpoint, having gained insight from American history – in this case, Black Wall Street/Tulsa, Oklahoma. Our perspective helps us better understand the exact nature of t…
COVID-19 has forever altered standard business practices.
Prior to recent events, Environmental, Social, and Governance efforts have been an afterthought. But the global pandemic demonstrates the fundamental role that ESG plays in corporate investments. The presentation focused on three main points: corporations’ social responses and disclosures to stakeholders regarding ESG factors, how investors incorporate ESG factors into business decisions, and how this crisis will affect what happens next.
The first speaker, Martin Whittaker, is the CEO of Just Capital; a non-profit organization that strives to create a more just market in America through the collection of data. Whittaker discussed the importance of corporate social responses in today’s climate by addressing the Environment and Social aspects of the crisis. COVID-19 has resulted in hazardous working conditions, so companies should be prioritizing the wellbeing of their employees. According to Whittaker, the proper treatment of …
The Intersection of ESG and COVID-19. Call hosted by Goldman Sachs to discuss the impact of the global pandemic and economic recession on ESG, with a focus on both the investor and corporate perspectives. ESG Investing is the consideration of Environmental, Social, and Governance factors in investment decision making.
As emphasized in the presentation, while some consider the ESG qualification to be simply a box to check, it is becoming a very important marker of strong investments. This presentation discussed the growing importance of ESG factors and the relevance of COVID-19 on future investing.
Martin Whittaker of Just Capital discussed how the pandemic is emphasizing the importance of risk factors and relationships for corporations. As a nonprofit which surveys thousands of Americans in building their company rankings, they have found that the way corporations treat their workers and care for their safety has become critical. Given the health risks associated with COVID-19, this i…
Come advocate for change!
SPECIAL GUESTS: CONGRESSMAN HANK JOHNSON (D-GA)DR. CHARLES STEELE, JR., PRESIDENT AND CEO, SOUTHERN CHRISTIAN LEADERSHIP CONFERENCEWILLIAM MICHAEL CUNNINGHAM, FOUNDER - CREATIVE INVESTMENT RESEARCHWednesday May 13, 2020 6:00 pm ET. Zoom Webinar. https://www.creativeinvestmentresearch.org/covid
Asking "mainstream" economists about reopening the economy in the face of the current crisis is unlikely to generate useful advice. These are the same people who missed the 2008 financial crisis (page 6, top) and were unable to predict the election of Donald Trump in 2016.
An independent view on the economic impacts of the Coronavirus, informed by relevant insight from American history – in this case, Black Wall Street/Tulsa, Oklahoma, may better explain the exact nature of the problem the country now faces.
The Greenwood District in Tulsa, Oklahoma was one of the most prominent concentrations of African-American businesses in the United States. It was razed to the ground in the Tulsa race massacre of 1921, in which white residents massacred as many as 300 black residents, injuring hundreds more. Our analysis starts by comparing the economic devastation wrought by this incident to that of the coronavirus, since, like the virus, business properties were rendered uninhabitable…
Four months ago, our nation was made host to a virulent, deadly visitor, brought to this continent surreptitiously. A new virus, uncovered in China, unsparing in occurrence.
Now we are engaged in a great experiment, testing whether any nation with significant divisions based on politics, race and wealth, can survive in the face of such a disease. We have come to give our testimony while we still can, to help insure the survival of all who participate in this society. We are writing not as millionaires but as common people, like the medical and public safety workers who gave their lives that this nation might live. As citizens of the world, we have an obligation to speak out. As citizens of the US, we have the right to do so.
We offer an independent view on the economic impacts, having gained relevant insight from American history – in this case, from Black Wall Street/Tulsa, Oklahoma, to better understand the exact nature of the economic problem the country now faces. Of course, in a…
As the United States and the world continue to see a rise in COVID-19 cases, evidence of a considerable economic downturn continues to stack up.
It seems, at the moment, that aggressive social distancing measures and the resulting business slowdown are the best ways to protect the economy and to save countless lives.
Goldman Sachs economists have predicted that second-quarter GDP will drop 24% with a 3.8% contraction for the full year 2020. The bank has also stated that they expect unemployment to reach as high as 9%. In a more extreme prediction, the president of the St. Louis Fed, James Bullard, has warned that unemployment could reach as high as 30% and GDP could drop as much as 50% in the coming quarter.
While economic policy put into place so far focuses on stimulus and direct spending, there should be a heightened focus on the most vulnerable demographics in times of crisis. Despite the fact that everyone, other than essential workers, have been instructed to remain home, there…
According to the Financial Times, megabank Wells Fargo & Co “has asked the U.S. Federal Reserve to remove an asset cap introduced during its accounts scandal in order to allow it to support businesses and customers hit by the coronavirus economic fallout..”
The growth cap was imposed after the bank “acknowledged that it improperly foreclosed on 545 distressed homeowners after they asked for help with their mortgages, created 3.5 million fake accounts, charged 570,000 customers for auto insurance they did not need, and illegally repossessed vehicles from hundreds of service members.” Former bank employees state that Wells "targeted black churches” and neighborhoods by offering escalating-interest mortgages, which some loan officers called “ghetto loans.”
Facing the global challenge of the COVID-19 pandemic and the declining stock market, the Federal Reserve made a bold move to reduce the fed funds rate to zero, trying to boost the economy as a whole.
However, it is uncertain whether minority groups will benefit from this policy. According to a report by the Fed, significant gaps exist between races and ethnicities in terms of interest rate on mortgages, and these differences vary geographically by State.
The government usually makes up those gaps through mortgage lending programs designed specifically for the disadvantaged. However, the country shows no sign of putting forward any targeted monetary policy corresponding to the changing interest rate.
Thus, people suspect that the current monetary policy will leave minority groups behind. In fact, according to Brookings Institution, Black businesses have long been undervalued, and their potential has yet to be developed.
To reverse the declining market economy, the U.S. government shou…