Wealth gap widens between whites, minorities

Oh no! The recession affected minorities dramatically greater than whites!

Hispanic Wealth has gone down a whopping 66%, and blacks 51%---while the percentage of Wealth for whites has only gone down 16%. Though the fundamental reason seems to be that whites were more protected from stocks and corporate savings, while the housing market crash was much more dramatic for minorities.

"What's pushing the wealth of whites is the rebound in the stock market and corporate savings, while younger Hispanics and African-Americans who bought homes in the last decade - because that was the American dream - are seeing big declines," said Timothy Smeeding, a University of Wisconsin-Madison professor who specializes in income inequality.

Read the full, intriguing Associated Press article here.