NAACP President and CEO Derrick Johnson told Cheddar he is "not surprised" a recent meeting between Facebook and civil rights organizations did not end as hoped.
The social media giant reached out as major advertisers pulled marketing campaigns, unhappy with the company's decision to allow hateful content and misinformation to live on the platform.
"Unfortunately we’re not surprised. After two years of discussion with Facebook, we’ve heard statements of value, we’ve heard statements of concern, and how we all agree. What we have not seen is action," Johnson stated.
The recent ad boycott began in the weeks after the police killing of George Floyd. As massive demonstrations took place across the county, Trump posted a message on Twitter and Facebook, warning, in part, "when the looting starts, the shooting starts." Twitter opted to issue a warning about the post, while Facebook decided to let it remain unaltered. Zuckerberg explained in a post that the company's "position is that we should enable as much expression as possible unless it will cause imminent risk of specific harms or dangers spelled out in clear policies."
"For Mark Zuckerberg or anyone else to suggest that hate speech is ok as long as it’s partisan, that’s asinine thinking," Johnson said.
Refusal to curb the spread of hate speech and misinformation on Facebook, Johnson said, threatens American governance.
"If we demean the civility of our discourse to say that if someone says something racialized, it’s ok, it’s partisan, that’s no way to run this democracy," he noted.
Rebecca Walser, President of Walser Wealth Management, joins Cheddar News' Closing Bell, where she discusses the factors behind Monday's surge on Wall Street and explains why investors will likely experience volatility in the market throughout the month of December.
Cheddar's Chloe Aiello joined "Closing Bell" to break down the progress of the SAFE Banking Act in Congress as cannabis businesses operators struggle to find financial institutions that will service them. Banks face steep federal penalties, including the risk of losing a bank charter, if found to be servicing marijuana businesses even if their state has legalized operations. Aiello reported that while there was some bipartisan support for the measure in the Senate, the bill faces some opposition from conservatives with "longstanding concerns" about cannabis and progressives who prefer a more comprehensive approach to reform.
Head of Instagram Adam Mosseri is slated to testify this week in front of the Senate Commerce Subcommittee after a Wall Street Journal report that found the Meta-owned social media platform is negatively impacting the mental wellness of teen girls.
Chinese regulators are reportedly behind China-based ride-hailing company DiDi exiting from the New York Stock Exchange, just days after listing earlier this year. The regulators stated prior that DiDi had not received the necessary clearances to list in the states. Gordon Chang, Asian affairs expert, joined Cheddar to break down what the delisting says about the relationship between nations. "This really strikes me as an attempt to really to force a decoupling of China and the U.S. in the financial markets," Chang said.
U.S. Futures were pointing to a higher open to round out the week despite a miss on the November Jobs Report, which showed slower job growth than expected-- and as the omicron variant continues to spread across the country. Patrick Healey, Founder & President at Caliber Financial Partners joined Cheddar's Opening Bell to discuss.
Just days after the detection of the Omicron variant, the World Health Organization has agreed to start the process of establishing a global pandemic treaty or accord. Amy Maxmen, senior reporter for Nature, and Dr. Samuel Scarpino, managing director for the Rockefeller Foundation's Pandemic Prevention Institute, joined Cheddar to discuss this effort and what lessons can be learned from the many COVID-19 failures as the world prepares for future pandemics.
It's a mixed bag for the November jobs report. Hiring slowed last month as employers only added 210,000 jobs, massively missing the estimate of 550,000. But there was one bright spot: the unemployment rate fell to 4.2%, with the number of unemployed people dropping to 6.9 million. Both of those numbers are considerably down from their highs at the end of the 2020 recession. Heather Boushey, a member of President Biden's Council of Economic Advisers, joined Cheddar to discuss the report and the state of the country's ongoing economic recovery.
