Reckon Interview
Reckon Interview
Sep 21, 2020
Can the South handle another recession?
Play episode · 55 min

Earlier this year, Congress passed the biggest stimulus package in history, but who is actually getting that mone


This 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 Notes

2:11 Dr. Stephanie M. Yates | Director and Endowed Professor, Regions Institute for Financial Education, University of Alabama at Birmingham | @syatesmitch

2:52 How wealth is stored

4:55 How federal policies deepened the wealth gap

6:35 The subprime lending crisis

11:28 A new form of redlining

12:08 Efforts to reform the system

14:53 How minority-owned businesses impact the overall economy

18:26 How the government built white wealth

20:14 The creation of a caste system

24:55 Steps to take to survive a recession

27:01 Should I buy on credit right now?

29:10 Diane Standaert | Senior Vice President, Hope Policy Institute | @dianestand

30:01 The economy prior to this recession

34:45 How stimulus money is being distributed

35:57 How the PPP funds were divided

39:56 Resources for businesses struggling to stay afloat

41:29 How the South is handling the recession

52:49 Can we break the cycle?

 

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