ARTHUR LEVITT, CHAIRMAN OF THE SECURITIES AND EXCHANGE COMMISSION, AND ROBERT MORGENTHAU, NEW YORK COUNTY DISTRICT ATTORNEY, VALUED THE LIFE OF AN AFRICAN-AMERICAN AT $700, LESS THAN THE COST OF AN I-PHONE. THIS VALUE WAS DETERMINED BY TWO PROFESSORS AT THE CRAIG NEWMARK GRADUATE SCHOOL OF JOURNALISM, STEPHEN SHEPARD AND KENNETH VITTOR, BOTH FORMERLY OF BUSINESSWEEK.