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AFR

13 Apr, 15 tweets, 10 min read

@SenateBanking

Today, @SenateBanking is holding the hearing "Separate and Unequal: The Legacy of Racial Discrimination in Housing."

Follow along on this thread.

banking.senate.gov/hearings/separ…

@ItsLisaRice

@ItsLisaRice opens: "There are over 4 million instances of housing discrimination that occur each year"

@NAACP_LDF

Richard Rothstein of @NAACP_LDF explains how the racial wealth gap is built on and exacerbated by yesteryears's racist policies based on exclusion in housing

@SherrodBrown

@SherrodBrown to Richard Rothstein "for those who might be skeptical, explain why the government has an obligation to remedy the harmful discrimination that it perpetuated"

https://twitter.com/SenateBanking/status/1381979445662253067

https://twitter.com/SenateBanking/status/1381979445662253067

@ItsLisaRice

@ItsLisaRice gives a history lesson on the origins of the Fair Housing Act

@SenatorMenendez

@SenatorMenendez asks @ItsLisaRice about how the homeownership gap contributes to the racial wealth gap

@ChrisVanHollen

@ChrisVanHollen asks Dr. Jason Reece to comment on why mobility vouchers are important

@ItsLisaRice

@ItsLisaRice explains in response to @TinaSmithMN that the government can help eliminate exclusionary zoning ordinances by applying the AFFH mandate not just to housing but also to community development

@MarkWarner

Asked by @MarkWarner if home mortgage loans targeted to first-generation homebuyers would promote equity across race lines, @ItsLisaRice gives a simple answer: yes
#FairHousingMonth

@SenCortezMasto

@SenCortezMasto asks about the roles states and cities have in promoting fair housing in their communities

@ItsLisaRice gives a chilling example of the kinds of hurdles local communities will have to overcome to achieve equity.

#FairHousingMonth

@SenOssoff

.@SenOssoff inquires how @POTUS's infrastructure plan can achieve fair housing.

Paying keen attention to equity, not building upon an already-racist system, will be key, @ItsLisaRice says.

#FairHousingMonth

@SenatorWarnock

.@SenatorWarnock: "How [does] racial disparities within the home appraisal market exacerbate the racial wealth gap?"

@ItsLisaRice explains here.

@ItsLisaRice

.@ItsLisaRice dives into the work @natfairhouse is doing on investigating the home appraisal market in MoCo, MD

@ItsLisaRice

Finally, shout out to @ItsLisaRice for kicking butt during today's hearing!

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More from @RealBankReform

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@RealBankReform

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There’s also technology, thanks to #PrivateEquity-owned government surveillance and censorship technology firms.

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After #PirateEquity🏴‍☠️ firm Francisco Partners bought technology company Sandvine, they fired staff, replaced leadership and started dealing with surveillance states & dictatorships

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Sandvine asked for the product back too late — the damage had been done.

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@RealBankReform

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@BankersPrez

Under @BankersPrez Rob Nichols, American Bankers Assn gave $1.3 million to the 147 Republicans who voted to overturn a fair election after a violent assault on the U.S. Capitol

@ABABankers is their BIGGEST corporate PAC donor

#CorporateComplicity 1/4

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@RepTedBudd

ABA also financed ads in support @RepTedBudd, another objector to a fair election

@BankersPrez Nichols was enthusiastic about him back in September: 2/4

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@BankersPrez

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@RealBankReform

17 Sep 20

OVERSIGHT HEARING ON STATE MUNICIPAL LENDING: Why is the Fed offering so little support for state and municipal governments? Let's find out in this THREAD:

@federalreserve

@federalreserve's Kent Hiteshew continuing to evade arguments in favor of greater support for state and municipal lending ... The Fed has used 0.3% of its $500 billion facility while pumping money into corporate markets

@BharatRamamurti

@BharatRamamurti points out, the Fed is giving “no strings attached support to some of America’s biggest corporations” while the municipal and state governments face tough conditions, ones that hurt first responders crucial to #COVID19 response

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@RealBankReform

10 Sep 20

@federalreserve

The @federalreserve has done a damn good job of bailing out the investor class on #WallStreet during the #COVID19 pandemic: big banks, big investors, and big corporations are all doing great. And the evidence is in the data THREAD 1/8

The Fed is buying corporate bonds and it is paying ABOVE PAR for those securities. In fact in the latest data dump (today), it’s buying on average bonds at a price of 107, or 7% more than they are actually worth at face value 2/8 federalreserve.gov/reports-to-con…

For some perspective, imagine that you took out a loan for $100,000 and the creditor handed you $107,000 and said, “Hey, keep it, I have plenty.” That’s how well corporate America and its bankers are doing thanks to the Fed. 3/8

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@RealBankReform

16 Jun 20

@federalreserve

Today @federalreserve Chair Powell will be appearing before the Senate Banking Committee at 10am ET. We will be clipping videos in this thread.

You can watch live here: banking.senate.gov/hearings/06/08…

@SenSherrodBrown

@SenSherrodBrown: "Across the country, Americans are outraged over the killings of #BreonnaTaylor @GeorgeFlyod #AhmaudArbery #RayshardBrooks & so many other Black Americans. They are demanding justice & an end to the systemic racism that pervades every aspect of society"

@SenSherrodBrown

We're not just looking at a "theoretical, academic model of a perfect market," as @SenSherrodBrown would suggest.

Systemic racism in our financial system must be taken account for AND addressed in order to have a economic recovery for ALL Americans for #COVID19.