"7 minutes ago -
“Read this book. It explains so much about the moment…Beautiful, heartbreaking work.?? ?Ta-Nehisi Coates“A deep accounting of how America got to a point where a median white family has 13 times more wealth than the median black family.???The Atlantic“Extraordinary…Baradaran focuses on a part of the American story that’s often ignored: the way African Americans were locked out of the financial engines that create wealth in America.???Ezra KleinWhen the Emancipation Proclamation was signed in 1863, the black community owned less than 1 percent of the total wealth in America. More than 150 years later, that number has barely budged. The Color of Money seeks to explain the stubborn persistence of this racial wealth gap by focusing on the generators of wealth in the black community: black banks.With the civil rights movement in full swing, President Nixon promoted “black capitalism,?? a plan to support black banks and minority-owned businesses. But the catch-22 of black banking is that
"