Five Long Island nonprofits to share $70,000 in grants
Five Long Island nonprofits to share $70,000 in grants
Five Long Island nonprofits concerned with progressive social change were awarded funding by the Long Island Unitarian...
Five Long Island nonprofits concerned with progressive social change were awarded funding by the Long Island Unitarian Universalist Fund, which doled out $70,000 in its first round of grants for 2017. Three organizations received $15,000 apiece. These are the Center for Popular Democracy, which will use its award to organize elected officials on Long Island around progressive public policy solutions. The Child Care Council of Suffolk’s award has been earmarked for a graduate coalition for parents who have completed parent leadership initiative training, while the Pulse Center for Patient Safety and Advocacy will use its $15,000 award to train and empower African-Americans to advocate for better medical care.
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Communities Lose When HUD Sells Loans to Wall Street
The Hill - October 2, 2014, Rachel Laforest & Keven Whelan -James Cheeseman and his mother, Constance, have lived...
The Hill - October 2, 2014, Rachel Laforest & Keven Whelan -James Cheeseman and his mother, Constance, have lived in their Rosedale, New York home for the past five years. Like many Americans, they struggled during the recent economic downturn and have been trying to get a modification on their mortgage.
The bank that held their mortgage JPMorgan Chase, agreed to provide borrowers like them relief under a multi-billion dollar settlement with the Justice Department last year. But the Cheesemans' mortgage was insured by the Federal Housing Administration (FHA), part of the U.S. Department of Housing and Urban Development (HUD). And before they could work out a deal with Chase, the bank had the FHA sell their loan to a new investor as part of a program, called the Distressed Asset Stabilization Program or DASP.
The program is supposed to have a dual purpose. First, the federal agency hopes to be able to use the funds received by DASP to right the balance sheet of the Federal Housing Authority’s mortgage insurance program. Second, the program is intended to “encourage public/private partnership to stabilize neighborhoods and home values in critical markets.”
According to HUD’s own data and reports, DASP is meeting the first objective and failing miserably at the second. Almost all loans sold through the DASP program went to for-profit firms and only a tiny handful (around 3 percent) of families whose loans were sold ended up with deals that kept them in their homes.
For homeowners like the Cheesemans, that failure has real-life consequences. When HUD, through DASP, sold their mortgage to another servicer, the Cheesemans lost their protections under the FHA program mandating an effort to modify the mortgage. Their new servicer, BSI Financial, was under no requirement to consider a mortgage modification. BSI doesn’t even participate in HAMP, a post-bailout program for major banks that facilitates loan modifications to keep families in their homes. The result? The Cheesemans and thousands of other homeowners throughout the country are at serious risk of losing their home.
A recent report, Vulture Capital Hits Home: How HUD is Helping Wall Street and Hurting Our Communities, published by the Right to the City Alliance and Center for Popular Democracy cited serious problems with DASP. First, the current structure of most DASP auctions considers only the highest bid without weighting the bidder’s track record of good outcomes for homeowners and communities. Secondly, the groups found that the current outcome requirements and reporting structure fail to hold purchasers accountable. Third, the current pre-sale certification phase does not ensure that the FHA modification process has been followed.
Organizations called “Community Development Financial Institutions” with a track record of helping consumers stay in their homes stand ready to be a part of an improved version of this program. If a reformed DASP program incentivized it, investors with a social purpose could also make money by negotiating win-win, sustainable mortgage modifications with homeowners.
But community-friendly organizations can’t even get to the table with the auction overheated by well-heeled Wall Street firms and private equity “vulture capital” firms.
When the highest bidder places profits first, homeowners and neighborhoods come last. The result: more and more American homeowners losing their homes to unnecessary foreclosures and more and more corporate landlords leasing homes at rates few of these former homeowners, let alone anyone else, can afford.
All of this is the consequence of a program developed and managed by HUD, a federal agency with a stated mission to advance affordable housing and sustainable communities.
This week, HUD plans to sell off another 15,000 American homes to Wall Street investors. These are 15,000 families, 15,000 neighbors and 15,000 futures. Many if not all of these homeowners will lose their share of the American dream as a result of these auctions.
HUD can and should halt this week’s sale and must implement the necessary reforms that have been proposed by a range of community and advocacy groups.
As we consider the results of the economic collapse and what has been called by some a recovery, it is important to note once again that many neighborhoods, especially in communities of color, haven’t bounced back.
Too often our government has put the interests of Wall Street above the needs of struggling families. HUD can do better by fixing the “Distressed Assets” program now.
Laforest is executive director of the Right To The City Alliance, based in New York City. Whelan is National Campaign director of the Home Defenders League. He lives in Minneapolis.
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Time to have another discussion on the race problem
Time to have another discussion on the race problem
Many years ago, I was fortunate to take a black history class at University of Dayton. In that era, we were referred...
Many years ago, I was fortunate to take a black history class at University of Dayton. In that era, we were referred to as black. The one thing I remember is that the black female teacher kept telling her students, “There is no racial problem in the USA, there is an economic problem.”
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Monday's MLK50 live blog
Monday's MLK50 live blog
In addition to Wallace-Gobern, panelists will include Alvina Yeh, executive director of the Asian Pacific Labor...
In addition to Wallace-Gobern, panelists will include Alvina Yeh, executive director of the Asian Pacific Labor Alliance; Tracey Corder, director of the Racial Justice Campaign at the Center for Popular Democracy; and Jeremiah Edmond, president of G.A.M.E. Local 101.
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Battleground Texas: Progressive Cities Fight Back Against Anti-Immigrant, Right-Wing Forces
Battleground Texas: Progressive Cities Fight Back Against Anti-Immigrant, Right-Wing Forces
Sarah Johnson, the executive director of Local Progress, a group that works with Casar and other local politicians on...
Sarah Johnson, the executive director of Local Progress, a group that works with Casar and other local politicians on passing progressive legislation, told Salon that the initiative "brings together the way that policing impacts both immigrant communities and more broadly communities of color that are overcriminalized."
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Progressive Groups Go On The Offensive Against A Fed Interest Rate Hike
Progressive groups are launching a national campaign this week to pressure the Federal Reserve not to raise interest...
Progressive groups are launching a national campaign this week to pressure the Federal Reserve not to raise interest rates until wages begin growing more significantly. And they are getting some help from popular liberal economist Robert Reich.
The groups, led by the Center for Popular Democracy’s Fed Up campaign -- a foundation-funded nonprofit committed to a more "pro-worker" Federal Reserve -- inaugurated the effort in earnest over the weekend with mass email blasts and solicitation on other digital platforms of a petition, “Tell the Fed: Don’t Raise Interest Rates!”
Participating organizations, which include online progressive heavyweights CREDO Action, Daily Kos and the Working Families Party, will send the petition to an increasing number of activists over the course of the week. The groups, a complete list of which you can find in the petition, have a combined email list and website visitor reach in the millions.
Activists will deliver the petition signatures they amass in the coming weeks to Fed officials at the Kansas City Federal Reserve Bank’s annual symposium in Jackson Hole, Wyoming, onAug. 27-29. Fed Up is sending a delegation of low-income workers and representatives from communities of color to the symposium with the goal of raising awareness of working families’ concerns about Fed monetary policy. The Fed Up campaign formally began with a similar visit to Jackson Hole last year.
Some of the emails to activists will include a video from Robert Reich, an economist at the University of California, Berkeley and former secretary of labor, that is likely to give the effort a high-profile boost. Reich posted the video, along with a link to the petition, on his Facebook page on Friday. As of Monday afternoon it already had been viewed over 142,000 times -- and shared by more than 3,600 people. Reich relies on a production team to make his videos, but does the illustrations featured in them himself.
The new online campaign aims to influence the Fed at a pivotal moment: The central bank is indicating that it will raise interest rates as soon as September. Atlanta Fed President Dennis Lockhart, who sits on the FOMC, confirmed on Monday that the Fed would soon raise rates, saying the "the point of 'liftoff' is close." Lockhart's remarks come after July jobs numbers Friday showed relatively steady job gains.
Robert Reich’s Federal Reserve 101
The progressive groups pushing back against a rate hike are betting that if the public knew how much they stood to lose if rates go up, they would be willing to speak out against a hike. They could then generate pressure to change the Fed’s calculus.
For that to happen, though, people need to understand what the Federal Reserve is -- which activists acknowledge is rare.
So Reich’s five-minute video starts at square one, explaining how the Federal Reserve works and why it affects Americans’ lives -- before articulating the case against a rate hike. The Fed cuts interest rates, or keeps them low, he explains, in order to stimulate the economy. “The lower the [Fed’s] rates, the easier it is to borrow,” Reich says in the video. “The easier it is to borrow, the more active the economy becomes.”
Reich then elaborates on the virtuous cycle that takes hold when low rates leave people with more disposable income, as graphics illustrating his points whiz by onscreen. Consumers spend more, Reich explains, growing businesses and increasing demand for labor. And if there is enough demand for workers, he continues, employers raise wages to compete for those workers.
Why Do Progressives Think A September Rate Hike Is Premature?
Reich, like the campaign he is backing, makes the case that the Fed should wait until demand for workers is high enough to increase wages substantially before raising interest rates. Although the official unemployment rate of 5.3 percent is low by historical standards, it has yet to translate into substantial wage growth. Average wages have risen 2.1 percent in the past 12 months -- not much higher than the rate of price inflation, which, as of June, was 1.8 percent (not including energy and food).
Economists like Jared Bernstein of the Center on Budget and Policy Priorities argue that wage growth has yet to take off because there are still too many job seekers for the number of jobs available. The official unemployment rate does not account for the 6.3 million underemployed workers, who have part-time work but want to work full time, or the 668,000 jobless workers, who have given up seeking work altogether.
Although the progressive groups’ petition does not explicitly demand that the Fed wait for a specific wage growth figure before raising interest rates, the Fed Up campaign and its partners have largely coalesced around a wage growth target of 3.5 to 4 percent. The liberal-leaningEconomic Policy Institute, which is participating in the new petition campaign, estimates that with that type of wage growth, price inflation will not “significantly exceed” the Fed’s 2 percent inflation target.
These progressives warn that a Fed interest rate hike that occurs before significant wage growth takes hold would disproportionately hurt people of color and women. Both groups face routine discrimination in the job market that they are more likely to overcome in a high-demand economy buttressed by low rates. And people of color are much more likely to be workers on the lower side of the earnings spectrum, who have the least leverage vis-à-vis employers. That means they are often the last people to get hired or get a raise when the job market heats up, and the first to lose their jobs when it cools down. For evidence of this, they say, look no further than the shockingly high African-American unemployment rate of 9.1 percent.
What About Inflation?
The Fed balances its mandate to maximize employment with an obligation to prevent excessive inflation. That is why it raises interest rates when it believes prices are at or near its target inflation rate of 2 percent. Some economists also believe that even when consumer prices are below the target rate, the Fed should raise rates if housing and stock prices are getting unreasonably high.
Reich -- and the many economists and activists with whom he finds common cause -- appreciate the Fed’s obligation to prevent runaway inflation. But they note that inflation has remained consistently below the Fed’s target rate of 2 percent. And they believe that for the sake of job creation and wage growth, the economy can tolerate slightly higher inflation than the current Fed target.
“More jobs and better wages are more important than theoretical worries about accelerating inflation,” Reich concludes.
Reich and allies point to the late 1990s as a model for Fed monetary policy. They credit then-Fed Chair Alan Greenspan for refusing to raise interest rates even as the official unemployment rate dipped, against the wishes of other Fed officials concerned about inflation. As a result, wage growth was widespread enough to produce significant gains for workers at the bottom of the earnings spectrum.
A New Progressive Priority?
The petition campaign against a Fed rate hike is something of a coup for advocates who, asHuffPost reported at length in June, have long argued that Fed monetary policy should be a higher priority for the political left. Although the foundation-funded Fed Up campaign has been agitating for a more “pro-worker” Fed for nearly a year now, this is the first time it is collaborating with major progressive players like CREDO Action, Daily Kos and the Working Families Party. The Economic Policy Institute, which is a member of the Fed Up campaign’s founding coalition, is also activating its email list for a Fed Up petition effort for the first time.
A broad array of liberal-leaning organizations joined forces in the summer and fall of 2013 to torpedo President Barack Obama’s nomination of Lawrence Summers as chair of the Federal Reserve Board of Governors. Summers united economic progressives concerned about his Wall Street ties and women’s advocates angered by his remarks about women. Their efforts succeeded in winning the appointment of Janet Yellen as chair instead of Summers.
But since that time, the Fed has largely faded from the progressive foreground. Higher-profile fights like the movements for the $15 minimum wage and against the Trans-Pacific Partnership trade deal have taken up the lion’s share of progressive energy and attention, dwarfing more esoteric causes. To the extent progressives have publicly pressured the Fed, it has been to police Wall Street more carefully, not maintain a dovish monetary policy.
“In general it’s clear that the Federal Reserve gets far less attention from progressives than it should in light of the tremendous influence it has over the economy and Americans’ quality of life,” said Josh Nelson, communications director for CREDO Action.
This relative inattention is evident in how little Federal Reserve monetary policy has come up in the 2016 Democratic presidential primary. The topic has not been discussed widely on the campaign trail. Of the major Democratic presidential candidates, only former Maryland Gov. Martin O’Malley responded to a request for comment last week on a possible Fed rate hike. O’Malley agreed with progressive activists that the Fed should wait for more robust wage growth before raising rates.
By contrast, the right wing has relentlessly trained its fire on the Fed for “debasing” the dollar with its quantitative easing program -- its now-defunct multitrillion-dollar asset purchasing program -- and low interest rates. Republican members of Congress regularly grill Yellen for printing too much money.
To the extent that Republican presidential candidates have broached the subject, they have weighed in in support of raising rates. Donald Trump, a real estate mogul and ersatz Republican presidential candidate, warned last week that the Fed’s low interest rates are causing an asset bubble. New Jersey Gov. Chris Christie has also slammed the Fed’s “easy money” policies for endangering the economy.
But the petition effort raises advocates’ hopes that a progressive movement with the power to match the right's Fed lobby is finally taking shape.
Haedtler said that CREDO Action, Daily Kos and the Working Families Party were eager to get involved.
“They were very enthusiastic about targeting a new institution that was not accustomed to outside pressure by working families,” Haedtler said, adding that he thought soliciting these groups’ involvement “would be more challenging than it was.”
They were receptive to the argument, Haedtler said, that the Federal Reserve can “wipe out a lot of progress” on more visible issues like the minimum wage, if the Fed “does not recognize that the economic recovery has not benefitted everybody.”
CREDO Action did not specify how many activists it would target, but said that the petition would reach “many of the economic justice activists” on the group’s 3.8 million-person email list.
“The traditional obscurity [of the Fed] is why we must organize around it,” CREDO Action’s Nelson said. “People assume they can't influence the Fed. But that's wrong. These are people and they are open to both pressure and input. Pointing out that many communities still suffer is an essential role for advocates.” Nelson added that progressive input is a “necessary counterweight” to Wall Street influence on the central bank.
Chris Bowers, the Daily Kos’ executive campaign director, is confident that the Fed rate hike is not too esoteric for Daily Kos members. “One thing we've learned over the years is that Daily Kos readers tend to be very sophisticated, highly engaged activists who know a great deal about all manner of political issues,” Bowers said in an email. “In fact, some of our best-performing campaigns have focused on topics that might seem surprisingly obscure, such as net neutrality and filibuster reform. So we expect that our readers will readily grasp what's at stake here.”
Daily Kos is soliciting signatures for the petition through a splash screen some people see when they visit the site. Bowers estimates that 20,000 people a day will see the splash over the course of a campaign that will last at least two weeks. He said Daily Kos is gauging the “intensity” of their members’ interest in the Fed based on their engagement with the petition. If enthusiasm is high, it will send the petition to its much larger email activism list.
Beyond Stopping A Rate Hike
Ultimately, the Fed Up campaign and its allies are on a larger mission to make the Federal Reserve more accountable to working people. That means not only preventing an interest rate hike before greater wage growth takes hold, but also pushing the Fed to rebalance its dual mandate toward genuine full employment and higher wages, and away from what they believe is excessive concern about inflation. The theme of this year’s Jackson Hole symposium is“Inflation Dynamics and Monetary Policy,” which Fed Up points to as a typical sign of the Fed’s inflation bias.
“We want to reframe the narrative” at the symposium, Haedtler said. Inflation, he explains, “is not what is on the minds of low-wage workers who have been suffering through a very slow economic recovery.”
“We think of our campaign less as a left/right divide, and more as an effort to bring the voices of working families to the Federal Reserve for the first time,” Haedtler noted. “Ultimately our members are fighting for a broader recovery, better wages and better working conditions.”
Fed Up can point to concrete progress toward this goal since its inaugural action at the Jackson Hole symposium last August. Their protests there led to a meeting between Fed Up activists and Kansas City Fed President Esther George. That in turn opened the door to meetings with four other regional Federal Reserve bank presidents. Fed Up has also met with Yellen and several members of the Fed Board of Governors in their Washington offices.
The meetings have enabled working people organized by Fed Up to share their economic experiences with Fed officials, who make decisions that will affect these people’s lives.
Haedtler believes these meetings are already bearing fruit. The Fed created a Community Advisory Council in January to solicit more diverse views on the state of the economy.
“Even very hawkish regional presidents -- like James Bullard, the St. Louis Fed president -- really seem to take to heart some of the stories we convey to them,” he said.
The Fed Up campaign also wants to reform the selection process for regional Federal Reserve bank presidents, which it says reflects the narrow interests of the bankers that dominate their boards of directors. They are asking regional Fed presidents that they meet with for a timeline of their selection process and a list of candidates being considered.
Fed Up claims credit for the Minneapolis regional Federal Reserve Bank’s decision to disclose the process through which it would select its next president.
“We know something about congressionally confirmed Fed board governors, but very little about regional fed presidents, other than that they are overwhelmingly white, male and have close ties to the financial sector,” Haedtler said.
Source: Huffington Post
Voting rights: the fight for our democracy
Voting rights: the fight for our democracy
There is a battle under way for our democracy. The choice that lies in front of us: Will we be a country that...
There is a battle under way for our democracy. The choice that lies in front of us: Will we be a country that guarantees every eligible citizen the right to vote and participate? Or will we allow states and politicians to twist voting rules and ignore constitutional rights in order to limit access to democracy?
That is the choice in front of us, and it is not an abstract choice.
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Grupos cívicos piden a Harvard desvincularse de la deuda de Puerto Rico
Grupos cívicos piden a Harvard desvincularse de la deuda de Puerto Rico
Los grupos que participan de la convocatoria están comandadas por el “Center for Popular Democracy”, e incluyen a...
Los grupos que participan de la convocatoria están comandadas por el “Center for Popular Democracy”, e incluyen a organizaciones de estudiantes de esas universidades, así como “Make the Road New York”, “Make the Road Pennsylvania”, “Make the Road Connecticut”, “New York Communities for Change”, and “Organize Florida.”
Lea el artículo completo aquí.
Aiming for new empowerment of black women
Aiming for new empowerment of black women
Three Democratic congresswomen have teamed up in a new effort to help African-American women overcome economic and...
Three Democratic congresswomen have teamed up in a new effort to help African-American women overcome economic and social barriers. Rep. Robin Kelly (D-IL), Rep. Yvette D. Clarke (D-NY), and Rep. Bonnie Watson Coleman (D-NJ) have launched the Congressional Caucus on Black Women and Girls, the first caucus devoted to public policy that eliminates the significant hurdles and disparities faced by black women. The three hope that the new caucus gives the same attention to black women that President Obama’s My Brother's Keeper initiative has given to black men and boys.
The caucus is an outgrowth of a MoveOn.org petition from the #SheWoke Committee, a group of seven women asking congressional leaders to find ways to improve the lives of black women. That committee includes Ifeoma Ike, the co-founder of Black and Brown People Vote; philanthropic strategist Nakisha Lewis; and Sharon Cooper, sister of Sandra Bland, the Illinois woman who died in police custody in Texas after being stopped for a traffic violation.
The formal launch for the caucus is April 28, when the three congresswomen will lead a symposium at the Library of Congress titled “Barriers and Pathways to Success for Black Women and Girls.” The event will featuring academics, advocacy leaders, business executives, and media personalities. Among the speakers on two different panels are Melissa Harris-Perry, the Maya Angelou Presidential Chair at Wake Forest University and now editor-at-large at Elle magazine (now that she’s no longer at MSNBC); Beverly Bond, founder and CEO of Black Girls Rock!, the annual award show that honors women of color; and Monique Morris, co-founder and president of the National Black Women’s Justice Institute and author of Pushout: The Criminalization of Black Girls in Schools.
An evening event (both the daytime and evening meetings are open to the public) will give members of Congress “an opportunity to address organizations focused on black women, other civic leaders, and individuals who are committed to advancing the quality of life of black women in America,” according to the congressional office of Rep. Watson Coleman.
“I hope that what we will do is to highlight the issues facing black girls and black women—the issues that are impacting their lives,” Watson Coleman said. The range of issues to be addressed in the April 28 symposium include black women’s experiences with law enforcement; disparities in health care, including clinical trials; inequality in salaries; unemployment; domestic violence; and many other topics.
The April 28 events are only the first in what Watson Coleman hopes will be a series of public hearings, ongoing symposiums, and other avenues of gathering information. “We will coordinate all of this information, and we will be presenting public policy.
“There’s so much to do here,” Watson Coleman said. “We’re not trying to make this a quick fix.” Some answers could come in the form of legislation, some might be sought through presidential executive orders, and some might come from elsewhere. “It can be either and all,” she said. “Public policy has left us out of this area. We’re going to be guided by what we learn from experts. We’re not committed to any one thing.”
Watson Coleman said that while the caucus would be coordinated by the three congresswomen chairs, all of the House’s black congresswomen—20 in all—and several black congressmen are on board, too. “All of them have signaled interest,” she said.
Although there’s no coordination of effort, it’s possible that the caucus’s eventual direction may be getting some monetary support from another source. One day after the caucus was announced on March 22, the NoVo Foundation, run by Warren Buffet’s son Peter and his wife, Jennifer, pledged $90 million to “support and deepen the movement for girls and young women of color” in the U.S. "This work is about dismantling the barriers that prevent them from realizing that potential and leading us toward a truly transformative movement for change," said Jennifer Buffett, co-president of the NoVo Foundation. The monetary pledge is part of the foundation’s initiative, “Advancing Adolescent Girls' Rights,” which works to empower girls all over the world.
Another source for information is Grantmakers for Girls of Color, a website that “captures new knowledge and insights about girls and young women of color, with a focus on the structural barriers that prevent them from achieving their full potential.” The site was initially started by the NoVo Foundation, the Foundation for a Just Society, the Ms. Foundation for Women, and other partners. It serves as a shared resource across the philanthropy community, and it will grow and expand based on suggestions and feedback from those givers.
National unemployment rates for both men and women of color are more than double the jobless rates for whites, according to the most recent figures from the Dept. of Labor. Although the unemployment rate for African-American men was higher in every age group than the rate for black women, rates for young black men and women were especially high, ranging from 10.7 percent for black women from 20 to 25 years old to 13.6 percent for men in the same age group, with even higher figures for those under 20 years old.
Some 2 million African Americans are unemployed and looking for work, as jobs have been slower to return to the black community after the Great Recession. A 2015 report from the Economic Policy Institute and the Center for Popular Democracy painted a bleak employment picture for the black community. Most jobs that came back after the recession have been lower-wage jobs in the service and retail sector. The report stated that on an hourly basis during the past 15 years, average wages for black workers have fallen by 44 cents, while Hispanic and white workers’ wages have risen by 48 cents and 45 cents, respectively. As the report said: “The recovery has not yet reached Martin Luther King Jr. Boulevard.”
In addition, the National Women’s Law Center, in a recent report about lifetime wage gaps between men and women, said that the gap over a 40-year career between white men and African-American women is $877,480.
So good for three African-American congresswomen for shining a spotlight on black women and the myriad problems they face. Let’s hope they can identify some real solutions.
By Sher Watts Spooner
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Three honored by Jefferson Awards for public service
Three honored by Jefferson Awards for public service
Barkan, who was diagnosed with amyotrophic lateral sclerosis in 2016, started two programs at the Center for Popular...
Barkan, who was diagnosed with amyotrophic lateral sclerosis in 2016, started two programs at the Center for Popular Democracy, a national advocacy group that promotes progressive political groups. The programs include “Fed Up,” a pro-worker policy group, and “Local Progress,” a network of progressive politicians. For one of his projects, “Be a Hero,” Barkan traveled across a country in a wheelchair-accessible RV to campaign for political candidates who will “stand for” families so that “health care benefits [families have] paid for [will be] there for them when they most need it,” according to the campaign’s website.
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1 month ago
1 month ago