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Foreclosed: The State of the Dream

with

Brenda Cotto-Escalera,Exec. Dir.,United for a Fair Economy

Amaad Rivera, Director, UFE's Racial Wealth Divide Program



United for a Fair Economy new reports is on the subprime lending

crisis which has caused the greatest loss of wealth to people of color

in modern US history.For tens of millions of people in the US, owning

a home is the essence of the American dream, representing as it

does economic achievement & some measure of security. The Rev.

Dr. Martin Luther King, Jr., would undoubtedly agree, and aspired to

make the dream more broadly available - to Blacks, Latinos & Asians

as well as Whites, to poor people as well as rich. But now, the sub-

prime lending crisis has spread its tentacles across the country

causing the greatest wealth setback for people of color ever.

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Reverend Martin Luther King, Jr. at District 65 UAW

(30TH ANNIV) – MADISON SQUARE GARDEN Rally, Oct. 1963 -



Speaking less than a month after the Birmingham Church bombings

which killed four young girls, King lambasts governments at all levels

for their lack of urgency in enforcing the laws where Afro-Americans

are concerned. He honors District 65 for its tradition of militancy which

all too many trade unions lost after their vibrancy in the 30’s & decries

the lack of economic justice with millions jobless and poor in a

supposedly “robust economy” .



********************************************



for more information contact Ken Nash - knash@igc.org

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