Can the South handle another recession?

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? See acast.com/privacy for privacy and opt-out information. Learn more about your ad choices. Visit megaphone.fm/adchoices