Reported 8 months ago
Author Rodney Brooks explores how the impact of a post-Civil War bank failure in 1874 on the Freedman's Savings Bank continues to resonate for Black Americans today, contributing to the racial wealth gap. The bank, created to help former slaves save and invest, rapidly grew and then collapsed, resulting in loss of savings for many. Brooks highlights the ongoing distrust of financial institutions among Black Americans and suggests solutions like reparations and baby bonds to address the wealth gap.
Source: YAHOO