Updates on this week’s equity news.

 ”After the Great Recession ,” - The New York Times

Are there tangible ways that Wall Street has made the average person’s life better in the way that Silicon Valley has?

THE PRESIDENT: Well, I think that some of the democratization of finance is actually beneficial if properly regulated. So the fact that large numbers of people could participate in the equity markets in ways that they could not previously — and for much lower costs than they used to be able to participate — I think is important.

Now, the fact that we had such poor regulation means — in some of these markets, particularly around the securitized mortgages — means that the pain has been democratized as well. And that’s a problem. But I think that overall there are ways in which people have been able to participate in our stock markets and our financial markets that are potentially healthy. Again, what you have to have, though, is an updating of the regulatory regimes comparable to what we did in the 1930s, when there were rules that were put in place that gave investors a little more assurance that they knew what they were buying.

 ”Study: Metro Detroit poor face more health woes from bad air,” - The Detroit News

Detroit — Metro Detroit is among the nation’s worst regions in terms of the health risks faced by low-income residents who are forced to breathe bad air.

A study released today by researchers at the University of Massachusetts, Amherst, and the University of Southern California seeks to outline the areas of the United States where air pollution levels affect those demographic groups to a greater extent than their population would dictate.

“U.S. government awaits effects of stimulus bill,” - Reuters

WASHINGTON (Reuters) - In the past 10 weeks, the U.S. government has allocated billions of dollars for transportation projects under a plan to revive the languishing economy, but the effects of the historic effort may not be seen for months, the Transportation Secretary said on Wednesday.

Of the $48.1 billion the American Recovery and Reinvestment Act gave to the Department of Transportation to invest immediately, some $44.8 billion has already been made available to state and local agencies, said Transportation Secretary Ray LaHood.

The next chapter of America’s story begins today.

We have seen an historic sea change in this nation–not only in the election of Barack Obama, but in the ascension of hundreds of progressive candidates to our State Houses and Congress. To make real this promise of change, however, we must ensure that our elected officials live up to the ideals that promote equity and opportunity.

In the coming months, the Obama Administration will begin its transition to power and the strengthened Democratic majorities in both houses of Congress will get to work. We ask that they keep these Four Principles for Equity in mind in every decision they make:

1. Sustain the deep levels of democratic participation and civic engagement shown during the 2008 presidential election campaign.
2. Build an economy that expands opportunity for struggling families and revitalizes distressed communities.
3. Make affordable housing available to all, recognizing its historic role as a gateway to opportunity and asset-building.
4. Invest in building strong, healthy communities across America.

All Americans–especially those in low-income communities and communities of color–deserve a chance to participate and prosper. We have a real opportunity today to make the change we seek–but we must all work and push and fight together to make it happen.

What principles do you think should guide the Obama Administration? Weigh in the comments!

You can read the full Achieving Equity and Inclusion in America: Policy Principles for the Obama Administration and New Congress document on the PolicyLink site.

The presidential candidates will meet tonight for their third and final debate in the midst of an increasingly grim economic crisis. As we watch the daily news of economic twists and dramatic policy announcements, we must keep our eyes on the bigger picture - how we could emerge from these tough economic times in a more equitable and opportunity-rich America.

No doubt much of the discussion tonight at Hofstra University will focus on the myriad bailout proposals floating around DC these days. While this crisis escalated dramatically on Wall Street, the long-term solutions must extend to every neighborhood — so every child can attend a high-performing school, every small-business owner can get 21^st-century broadband access, and every American can find an affordable home, earn a decent wage and live in a healthy community.

To truly renew America’s promise, we must have an administration committed to economic policies that lift up all people. So, as you watch the debate tonight, listen to how the candidates answer questions like these:

1. What are the candidates’ plans for investing in our core infrastructure - our bridges, our transit, our schools, our broadband, even our water and sewer systems? These investments will lay the groundwork for our nation’s future global economic competitiveness.  In the shorter-term, they hold the promise of bringing new good-paying jobs, expanding economic opportunity, and injecting much-needed stimulus into communities choked by unemployment.  This could be the cornerstone for a broader longer-term national jobs strategy.
2. How does each candidate plan to make sure all families have access to safe, decent and affordable housing? The “housing crisis” in America is not just rooted in bad mortgages that have left families with more debt than their homes are worth.  It’s also about the long-term viability of neighborhoods. How will the candidates facilitate the purchase of foreclosed properties by states and localities to invigorate growth and preserve affordable housing options?  Fixing the underlying problems is key to stopping this crisis and revitalizing neighborhoods in cities, suburbs and rural communities.
3. How will each candidate make sure all Americans live in healthy communities? Neighborhoods with parks, open space and easy access to healthy food - and free from violence and environmental hazards - are a crucial building block for health and economic and social equity.
4. Once elected, how does each candidate plan to make sure that Americans are invested and engaged in the democratic process? How will they ensure all Americans’ voices- regardless of race or economic status - are heard?

These issues -infrastructure and economic competitiveness; jobs, housing, health and democracy - should be at the heart of any serious discussion on the future of this nation. I’ll be tuning in tonight to find out.

(Note: This post was authored in part to coincide with Blog Action Day Oct. 15, when “almost 10,000 blogs, vlogs and podcasts with millions of readers will post on the topic of poverty.” Check it out.)