Obama Calls Bush’s Bailout Blueprint a ‘Blank Check’ for Wall St.
Sen. Barack Obama (D-Ill.) heaped criticism Sunday on President Bush’s mortgage-bailout blueprint, calling it a “blank check” for the administration and Wall Street with insufficient safeguards for taxpayers and homeowners. [T]hus far, the administration has only offered a concept with a staggering price tag, not a plan,” Obama said in a statement. “This crisis started with homeowners and they bear the brunt of the nearly unprecedented collapse in housing prices. We cannot have a plan for Wall Street banks that does not help homeowners stay in their homes and help distressed communities.” (Continue Reading…)
NASCAR Fires Officials Named in Harassment Lawsuit
NASCAR has fired two officials who had been suspended during an internal investigation into claims made in a $225 million racial discrimination and sexual harassment lawsuit against stock car racing’s sanctioning body. Tim Knox and Bud Moore were fired last week, NASCAR spokesman Ramsey Potson said. He declined to discuss the reasons for their dismissal before Sunday’s race at Dover International Speedway. Knox and Moore are accused in Mauricia Grant’s lawsuit of exposing themselves to her, and making graphic and lewd jokes. She worked as a technical inspector for NASCAR’s second-tier Nationwide Series from January 2005 through her October 2007 firing. NASCAR had placed Knox and Moore on indefinite paid administrative leave in June as it investigated her claims. (Continue Reading…)
Is the Black Middle Class Still Growing?
It’s easy to ignore the ho-hum routines in a city like Washington, D.C.—a town that hosts conferences and conventions of some sort every single day, four or five times a day, it seems. But a town-hall meeting at this week’s 30th Annual Conference and Exposition of the National Black MBA Association offered timely insight into the anxieties of black professionals. Hosted by CNN contributor Roland Martin, the meeting focused on the tenuous stability of the black middle class. I thought I was going to hear that the middle class in America is, in fact, disappearing. That’s certainly the message that Lou Dobbs conveys to me—or, rather, yells at me—from my television screen five evenings a week. In fact, the questions and concerns voiced by most participants in the audience suggested that they believed Dobbs’ take to be true, especially when it comes to blacks. (Continue Reading…)