Baby bonds? Reparations? There’s no quick fix for racial wealth gap
You learn a lot writing a book, as I did with my latest effort:“Fixing the Racial Wealth Gap: Racism & Discrimination Put Us Here, But This Is How We Can Save Future Generations.” I researched the history of the economic racism that is responsible for the racial wealth gap and the graphic results of that disparity, and I offer possible solutions.
The history of racism, discrimination and violence runs deep.The result is that Black Americans are far behind White Americans in every economic statistic.
Rodney Brooks
An award-winning journalist, writer and author and my specialty is retirement planning and other personal finance issues. I have written for many national publications, including USA TODAY, The Washington Post, U.S. News & World Report, AARP and National Geographic. I am available to speak on personal finance, financial literacy and the racial wealth gap.
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The author tells the history of the Freedman’s Savings Bank, how it grew much too quickly, why it failed and the impact on Black America. The Freedman’s Bank offered a safe depository for formerly enslaved people, expanded quickly and gained millions in deposits – mostly ranging from $5 to $50. But inexperience and corruption doomed it to failure, costing may of the small depositors their savings.
