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• August 20, 2019

  The FHA and Government Sponsored Racial Discrimination

  Before the creation of the Federal Housing Authority (FHA) in 1934, relatively few Americans owned their homes. The FHA made home ownership possible for many Americans by introducing low down-payment, long-term fixed-interest, self-amortizing loans. In 1938, the creation of the Federal National Mortgage Association (“Fannie Mae”) provided a market for Federal Housing Authority (FHA) loans,…
• March 10, 2018

  Detrimental Influences: Negro Encroachment

  In June of 1937, surveyors from the Federal government-sponsored Home Owner’s Loan Corporation (HOLC) visited Philadelphia neighborhoods to warn banks away from lending in areas with large number of African Americans. These surveyors assessed the favorable and detrimental influences. Favorable: Good transportation. Detrimental: Negro encroachment. Read the surveys your self: West Philadelphia survey, South Philadelphia survey,…
• February 5, 2018

  The Economic Theory Based Entirely on Sentimental Hope – Smith vs. Ricardo

  Is it strange that classical English economists Adam Smith and David Ricardo based a lot of their economic theory on sentimental hope? That the capitalists of their time would make economic decisions based on their sense of patriotism? Adam Smith considered the possibility that the merchants and manufacturers in England might decide to do their…
• September 18, 2015

  The Case for Reparations

  The Case for Reparations by Ta-Nehisi Coates – The Atlantic: Two hundred fifty years of slavery. Ninety years of Jim Crow. Sixty years of separate but equal. Thirty-five years of racist housing policy. Until we reckon with our compounding moral debts, America will never be whole. Clyde Ross was born in 1923, the seventh of…