Wall Street Project Economic Summit

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  • Magazine

What President Obama’s Economic Agenda Means for You

In his first three months in office, President Barack Obama has transformed government into an activist tool that seeks to help American citizens recapture their share of the American dream. Not since Franklin D. Roosevelt’s New Deal or Lyndon B. Johnson’s Great Society has an administration acted so boldly and swiftly to rebuild a nation. The result has been a mix of programs––the centerpiece of which is the $787 billion American Recovery and Reinvestment Act of 2009, commonly referred to as the stimulus package or bill, which intends to kick-start the economy by providing new jobs, tax breaks, and help for small businesses in addition to extending unemployment and health benefits. According to Recovery.gov, billions have already been dispersed to state and local agencies to engage in projects such as infrastructure repair, environmental cleanup, educational reform, and emergency assistance to disadvantaged families. In a conference call in March, White House Chief of Staff Rahm Emanuel and Senior Advisor and Assistant to the President Valerie Jarrett asserted that citizens must be participants in the process and actively seek out programs and services that offer relief as well as opportunities. That’s why our editors developed this package. We want to provide a breakdown of initiatives for job seekers, homeowners and buyers, taxpayers, and small business owners.

  • Entrepreneurship

Banking on a New Model

City National Bank (No. 8 on the BE BANKS list with $358.43 million in assets) is a Newark, New Jersey, institution that has flourished during boom and bust cycles for nearly four decades. But just as its headquarters rests on the intersection of Broad and Green streets, just a few feet away from City Hall, the bank itself is at a crossroads.

  • Magazine
  • Money

Young Wealth Builders

Young adults are taking care of business when it comes to personal finance. Despite reports about their financial illiteracy and indifference, some have learned from the financial meltdown of 2008 that a secure financial foundation is essential. A 2011 survey by a division of JPMorgan Chase and U.S. News &World Report shows that young adults (age 18–34) are concerned about responsible money management and want to pay down debt, spend less, save more, and create a budget. Of the 1,000 young adults surveyed, 54% said they wanted to save money.

  • Education

How JPMorgan Chase’s Fellowship Initiative Helps Young Men of Color Achieve

And it’s working. This summer, 117 young men completed TFI. Every one of the TFI Fellows graduated from high school. Even as graduation rates improve nationally, many of the schools the Fellows attend struggle to increase their graduation rates for young men of color, with some only graduating about 60% of those students. All of the Fellows are college bound.

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