all investors in china s stock markets. but it could also be a little unreal buying stocks in china doesn t necessarily involve research understanding, your company. what it does is also a lot of rumor and speculation. plus there isn t much after choice for investors. property prices have been falling for some time and bank deposit rates are miniscule. so you put all this together and you end up with a monster rally. but it all ended on june 12th. things suddenly got ugly. for many done right scary. almost a house of horrors. three weeks of wild volatileity and growing fear slashed 30% of the value of stocks in china. that equales a paper loss of some $3 trillion.
this contributed to the fact that blacks and hispanics lost nearly a 1/4er of their wealth between 2004 and 2010. whites lost just 1% during that same period. the american economy houses two economies, one black, one white. the divide between them a measure of inequality. reporter: van jones, i know that you are a political commentator, but this is not about politics this is not about right versus the left the republican versus democrats. this is the reality of america and many people aren t even aware, are ignorant of that reality and that history. well i think it s so important that you show that especially when we re having this discussion. i make this joke every african-american celebrity when they make it big they say i m going to buy my mom a house. they don t say buying stocks and
an angel on her shoulder. as the supreme court is hearing arguments on same-sex marriage, this week a church in north carolina is making a pretty bold move. listen to this. it is refusing to marry straight couples. coming up at 10:00 we ll talk to the senior pastor who says it s about supporting gay and lesbian couples in the church. thanks for watching, it was great to be with you. your bottom line starts right now. thank you, victor. see you at the top of the hour. one america but two economies. the evidence is mounting, stocks, jobs, housing, recent data show all three are improving big time, but not everyone is feeling it. poll finds 55% say buying stocks right now is good and 43% say a
u.s. but instead economic data from italy. we are just the prettiest horse in the glue factory right now, shep? shepard: i love it. up 3% in seven days. that s a lot. hey dow jones industrial average up 2.8% in seven days. get this, this is more good news. the vicks index, that s what the folks call the fear gauge, lowest levels in four years. really looking good for people out there. even the downdraft earlier in the day didn t keep people from coming back into this market and buying stocks. they are using any excuse to do so. shep? shepard: we are not afraid. gerri willis live in new york. gerri, thanks. thank you. shepard: former mayor of detroit kwame kilpatrick now faces up to 20 years in prison. you see, a jury today convicted him on two dozen federal corruption and bribery charges. he is 42 years old. he was once a rising star in the democratic party. make no mistake. he ran detroit from 2001 to
program and say they are innocent. porter was clearly happy to be back in the u.s. tonight. i d like to thank the nebs cairo for all the thing thez did for us as well as the administration at the american university in cairo for all their help and support. and my lawyers ted and both in egypt and here who worked tirelessly to obtain my freedom. i m just so thankful to be back. and i love to be in philadelphia right now. the other two students arrested with porter, derrick sweeney and luke gates are also returning to the u.s. from egypt at this hour. syria is running out of allies. you can add the arab league to its list of critics. finance ministers from the league want to punish damascus for its crackdown on protesters. new video on youtube showed enthusiastic demonstration with syrians pledging with the league to hit the regime hardment something you don t normally see in public. proposed sanctions would include freezing government assets and those belonging to syrian