Scott

“political backlash has resulted in Republican-controlled legislatures across the country passing laws to make voting more difficult for minority voters. Punishment for raising your voice is to silence that voice.”
― Kareem Abdul-Jabbar, Black Cop's Kid: An Essay

“Even with the bundling and splitting of tranches, Wall Street needed more mortgage borrowers, so it created the subprime market. These were loans to borrowers who did not meet the underwriting standards set forth by the GSEs, or “prime” loans. Subprime borrowers were riskier borrowers, either because they had fewer assets, lower credit score, or lower incomes. But in finance, higher risk is rewarded with higher yield, so mortgage brokers made even higher premiums from subprime loans.”
― Mehrsa Baradaran, The Color of Money: Black Banks and the Racial Wealth Gap

“For black families, each dollar creates only sixty-nine cents in total wealth.25 This is why the wealth gap between blacks and whites can continue to grow even when de jure discrimination ended decades ago.”
― Mehrsa Baradaran, The Color of Money: Black Banks and the Racial Wealth Gap

“We might want to apply the following short litmus tests to any policy proposal: does the program require some collective sacrifice or does it place the burden of closing the wealth gap entirely on the black community? If the latter, this is a cop-out that refuses to acknowledge that the black community did not create the problem in the first place.”
― Mehrsa Baradaran, The Color of Money: Black Banks and the Racial Wealth Gap