Wealth is a civil rights problem


iconI wonder why Asian minorities don't seem to be suffering from this problem.

Economic equality has become the paramount civil rights issue of the 21st century, civil rights advocates said as they prepared to celebrate King's birthday on Monday.

Fewer blacks than whites own their houses, get fair loans, invest in the stock market or sit on corporate boards, or have any real control over much of the trillions of dollars flowing in mutual funds, pension plans and the financial markets, they said. [...]

Jackson points out that while minorities put money into mutual funds and pension plans, they are scarcely to be found among the decision makers who determine how those funds and plans are invested. His Rainbow/PUSH organization has called for more diversity on Wall Street, among money managers and board members.

"They should be invested in the people's interest," he said.

Corbett worried about forcing people into a "permanent underclass."

"When people do not have access," he said, "you're leaving those people out of the system."

If anyone is forcing people into a permanent underclass, it's those that practice the soft bigotry of low expectations. Mr. Jackson, please call your office.



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Comments

Didn't I just read that home ownership among blacks is at it's highest level ever and continuing to climb?

Posted by: Brass at January 17, 2005 9:52 AM

Personally, the first time my pension fund promotes someone based on the colour of their skin, rather than their financial acumen, will be the last time they see a penny more of my money.

Posted by: robert in england at January 17, 2005 2:54 PM

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