Net worth drops for Black and White Households - Unequally

"Blacks hardest hit by Great Recession" at Wizbang is a disturbing report.
Analysis of Federal Reserve data for the years 2004 - 2009 by the Economic Policy Institute shows:
White households lost 24% of their net worth (falling to an average of $97,860)
Black households lost 83% of their net worth (falling to an average of $2,170).
For every dollar of white household wealth there is an average of 2 cents for a black household.

It's a complex record.  Lots of people owe more than they have and some people are super rich.  Those numbers are blended into the totals.   In the last ten years, the bubble in housing prices and increased home ownership by black households skewed the numbers too.
Caveat: The article intended to be shocking. The Institute's mission statement champions a progressive view.   A wise person would look further.  The Federal Reserve publishes its data - there's a lot.

Added: Verification at Zero Hedge.