LEADER 00000cam  2200517 i 4500 
001    ocn981761511 
003    OCoLC 
005    20171114022823.0 
007    ta 
008    170317t20172017mau      b    001 0 eng c 
010      2017011011 
020    9780674970953|q(hardcover) 
020    0674970950|q(hardcover) 
035    (OCoLC)981761511 
040    MH/DLC|beng|erda|cHLS|dDLC|dOCLCO|dYDX|dBTCTA|dBDX|dGUB
       |dYDX|dWLU|dOCLCQ|dUWW|dTOH 
042    pcc 
043    n-us--- 
049    CKEA 
050 00 E185.8|b.B24 2017 
082 00 330.9/008996073|223 
092    330.9008 
100 1  Baradaran, Mehrsa,|d1978-|eauthor. 
245 14 The color of money :|bBlack banks and the racial wealth 
       gap /|cMehrsa Baradaran. 
264  1 Cambridge, Massachusetts :|bThe Belknap Press of Harvard 
       University Press,|c2017. 
264  4 |c©2017 
300    371 pages ;|c25 cm 
336    text|btxt|2rdacontent 
337    unmediated|bn|2rdamedia 
338    volume|bnc|2rdacarrier 
504    Includes bibliographical references (pages 289-357) and 
       index. 
505 0  Forty acres or a savings bank -- Capitalism without 
       capital -- The rise of black banking -- The new deal for 
       white America -- Civil rights dreams, economic nightmares 
       -- The decoy of black capitalism -- The free market 
       confronts black poverty -- The color of money matters. 
520    "When the Emancipation Proclamation was signed in 1863, 
       the black community owned less than one percent of the 
       United States' total wealth. More than 150 years later, 
       that number has barely budged. The Color of Money pursues 
       the persistence of this racial wealth gap by focusing on 
       the generators of wealth in the black community: black 
       banks. Studying these institutions over time, Mehrsa 
       Baradaran challenges the myth that black communities could
       ever accumulate wealth in a segregated economy. Instead, 
       housing segregation, racism, and Jim Crow credit policies 
       created an inescapable, but hard to detect, economic trap 
       for black communities and their banks. The Catch-22 of 
       black banking is that the very institutions needed to help
       communities escape the deep poverty caused by 
       discrimination and segregation inevitably became victims 
       of that same poverty. Not only could black banks not 
       "control the black dollar" due to the dynamics of bank 
       depositing and lending but they drained black capital into
       white banks, leaving the black economy with the scraps. 
       Baradaran challenges the long-standing notion that black 
       banking and community self-help is the solution to the 
       racial wealth gap. These initiatives have functioned as a 
       potent political decoy to avoid more fundamental reforms 
       and racial redress. Examining the fruits of past policies 
       and the operation of banking in a segregated economy, she 
       makes clear that only bolder, more realistic views of 
       banking's relation to black communities will end the cycle
       of poverty and promote black wealth."--Jacket. 
650  0 African Americans|xEconomic conditions. 
650  0 African American banks|xHistory. 
650  0 Discrimination in banking|zUnited States|xHistory. 
650  0 African Americans|xFinance. 
650  0 Wealth|zUnited States|xHistory. 
650  7 SOCIAL SCIENCE / Ethnic Studies / African American 
       Studies.|2bisacsh 
650  7 African American banks.|2fast|0(OCoLC)fst00799039  
650  7 African Americans|xEconomic conditions.|2fast
       |0(OCoLC)fst00799599  
650  7 Discrimination in banking.|2fast|0(OCoLC)fst00895026  
650  7 Wealth.|2fast|0(OCoLC)fst01172973  
651  7 United States.|2fast|0(OCoLC)fst01204155   
655  7 History.|2fast|0(OCoLC)fst01411628   
994    92|bCKE