Show notes
Earlier this year, Congress passed the biggest stimulus package in history, but who is actually getting that moneThis week, we're chatting with Dr Stephanie Yates, a professor of finance at the University of Alabama at Birmingham, and Diane Standaert, a senior vice president of the Hope Policy Institute in Mississippi, which aims to help people in underserved areas grow wealth. Dr. Yates explains how today’s wealth gap can be explained by a history of policies that deliberately cut Black and Brown people out of the opportunity to accumulate wealth -- and how some policies aimed to address that disparity have backfired due to a lack of oversight. And Diane Standaert describes how the largest stimulus package in American history could exacerbate those disparities, if we aren’t careful. Show Notes2:11 Dr. Stephanie M. Yates | Director and Endowed Professor, Regions Institute for Financial Education, University of Alabama at Birmingham | @syatesmitch2:52 How wealth is stored4:55 How federal policies deepened the wealth gap6:35 The subprime lending crisis11:28 A new form of redlining12:08 Efforts to reform the system14:53 How minority-owned businesses impact the overall economy18:26 How the government built white wealth20:14 The creation of a caste system24:55 Steps to take to survive a recession27:01 Should I buy on credit right now?29:10 Diane Standaert | Senior Vice President, Hope Policy Institute | @dianestand30:01 The economy prior to this recession34:45 How stimulus money is being distributed35:57 How the PPP funds were divided39:56 Resources for businesses struggling to stay afloat41:29 How the South is handling the recession52:49 Can we break the cycle? See acast.com/privacy for privacy and opt-out information. Learn more about your ad choices. Visit megaphone.fm/adchoices
