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A screenshot of former President Obama's address during the "Show Me Your Walk H.B.C.U. Edition." Photo: Chase/YouTube

Former President Obama told seniors graduating from historically black colleges and universities Saturday "this pandemic has fully, finally torn back the curtain on the idea that so many folks in charge know what they're doing."

Why it matters: Obama's address during the "Show Me Your Walk H.B.C.U. Edition," hosted by comedian and actor Kevin Hart, was the first of two virtual commencement speeches containing criticism of the coronavirus response. Obama used his first public address since the outbreak began to note that "a disease like this just spotlights the underlying inequalities and extra burdens that black communities have historically had to deal with in this country."

Read the full transcript of Obama's speech to HBCU graduates via DocumentCloud below:

Go deeper:

Go deeper

Updated Aug 19, 2020 - Politics & Policy

What to expect from Kamala Harris and Barack Obama's DNC speeches

Photos: Drew Angerer; Scott Olson via Getty Images

Former President Obama will tell Americans tonight that "democracy itself is on the line," setting the stage for a heavily personal and biographical appeal by Kamala Harris "for people to see themselves in her speech," advisers to both tell Axios.

Driving the news: Each is speaking on Day Three of the Democratic National Convention — with Harris capping the night when she formally accepts the vice presidential nomination on Joe Biden's ticket.

Kendall Baker, author of Sports
1 hour ago - Sports

European soccer is at war

Liverpool celebrating its 2019 Champions League victory. Photo: Nigel Roddis/Getty Images

Europe's biggest soccer clubs have established The Super League, a new midweek tournament that would compete with — and threaten the very existence of — the Champions League.

Why it matters: This new league, set to start in 2023, "would bring about the most significant restructuring of elite European soccer since the 1950s, and could herald the largest transfer of wealth to a small set of teams in modern sports history," writes NYT's Tariq Panja.

Dion Rabouin, author of Markets
2 hours ago - Economy & Business

2021's expected earnings blowout begins

JPMorgan CEO Jamie Dimon. Photo: Mark Kauzlarich/Bloomberg via Getty Images

First-quarter earnings so far have been very strong, outpacing even the rosy expectations from Wall Street and that's a trend that's expected to continue for all of 2021. S&P 500 companies are on pace for one of the best quarters of positive earnings surprises on record, according to FactSet.

Why it matters: The results show that not only has the earnings recession ended for U.S. companies, but firms are performing better than expected and the economy may be justifying all the hype.