362K views 4 months ago #hamilton #blackhistory #americanhistory
362,712 views • Sep 12, 2024 • #hamilton #blackhistory #americanhistory
Black-owned banks were going to close the racial wealth gap—so what happened? Harini Bhat dives into the history books to explore the financial struggles faced by Black Americans from segregation to redlining and examines the role Black banks have played in the economic empowerment of the co …
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I don’t know how but you’ve managed to package an unbiased analysis that is more entertaining than the sensationalized segment of economic and financial news. Thank you for your efforts to be the signal and not the noise. I understand that the economy is currently in a downturn and that we must wait for things to get better
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The crazy thing is, you can show this to, and inform certain people, and they will still say it’s always been “equal opportunity.”
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Why is there a racial wealth gap? It was built in to the system from the start.
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My grandfather was also one of the founding partners of Penny Savings Bank. 
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“Access” is not enough. We have access now, but that doesn’t mean we actually RECIEVE. We have access to loan applications, but are rarely approved for the loan or its at inflated interest rates. We have access to higher education but, we can’t afford it without absurdly expensive student loans because we AREN’T hired for high paying jobs we have access to apply for even when we’re qualified!
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Black GI’s being denied access to the benefits of the GI Bill such as assistance with college and first mortgages, was also a factor. Thank you for this excellent presentation. The graphics explaining how black banks kept the money in the black community and helped it grow financially made me realize that the same thing [although just greedy and not motivated by racism] is happening everyday all across America. Banks, fast food franchises, chain stores, dollar stores, etc. extract wealth from small communities and poor areas of metros and “export” it to the rich without investing it in the community. Even the most conscientious banks and franchises that work hard to reinvest in their communities “export” at least their profits to corporate headquarters.
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This was great. I too often take for granted that these forces are understood by a large enough chunk of society to make a difference, but then I listen to our elected officials and realize just how profoundly we have forgotten our history.
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Greenwood District, Tulsa, Oklahoma, AKA Black Wall Street. That was the epitome of Black innovation, self reliance, and ingenuity.
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The War on Drugs targeted Black Men between the ages of 16 – 24. Thats the prime age for economic development.
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We gotta touch on how freeways being strategically built through black economic centers also is a factor. It not only happened in Durham but Atlanta’s sweet auburn district. If you look at the map of Atlanta’s interstates, I-75/85 literally turns just to go straight through the sweet auburn district and then returns back to a straight line north and south
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Please add that its still happening today. Wells Fargo and Navy Federal both have been caught denying black homeowners bank loans even with outstanding credit, low DTI ratio, and with a sizeable downpayment.
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And everything you’ve been talking about still exists today!
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Colonialism, Slavery , 250 year headstart, redlining, credit deprivation/manipulation, racism
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First Republic Bank was the 14th largest bank in the US, and it wasn’t subject to the most strict controls. How many banks actually are subject to those controls, besides the big four? Any bank could suffer a run and fail, and if that happens to a community level or even state level bank it probably won’t upset the national economy or ecosystem of banks, but any multi-state bank should be more closely watched.
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This is why it’s so fundamental for this community to have allies. No one should live in generational poverty. Let’s find a solution together and support Reparations
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There is also the fact that making black people less poor will also help white people because it increases the amount of taxable income which in turn inproves more communities. Furthermore, there are more people who can afford to take time to fight for better labor standards which improves worker equality. This issue is not separate from white people. I will admit it is sad I have to say this to motivate some white people but unfortunately some people are too selfish to realize that helping everyone benefits you too.
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The answer to this is so blatantly obvious 
imagine jumping into a game of monopoly after the game is over halfway done …property is already bought up , and you also don’t get told the rules while simultaneously being denied access to certain properties on the board
imagine jumping into a game of monopoly after the game is over halfway done …property is already bought up , and you also don’t get told the rules while simultaneously being denied access to certain properties on the board 117
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Student loan forgiveness and housing programs are not reparations for descendants of US Chattel slavery. These won’t close the racial wealth gap alone.
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Nine of which has really changed but they still always like how can slavery still affect us today. America is still exactly the way it was designed. Then we built our own towns and then they were destroyed.
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thank you for making this video, and apologies in advance for all the racists already in the comments feeling their egos are so fragile they must argue that this is somehow not true 
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Same thing happened in Little Rock’s West 9th Street as Durham. Black business area was destroyed by interstate system and effectively drew a dividing line through the city.
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