Thursday, February 11, 2010

The Color of Money

Many say as time changes, people change. I wish that were true and I say this because I have recently read an article that decribes the one dimensional mind of racism. The article or articles I read was The Color of Money. This article focused on the presence of racism in the banks of Atlanta. After a census was taken 1980 Bill Dedman who recieve a Pulitzer Prize for his series of articles on the color of money started to to do investigative and found something out very interesting. I you were to got to powerreporting.com and click on the color of money you will see two different maps. One map will have shaded areas of black neighborhoods from the 1980 census and the other map will show where Atlanta banks rarely give out loans. The two maps are very close to identical. How would the banks explain this? In one of the articles it reads Atlanta Blacks Losing in Home Scramble, Banks Favor White area by 5.1. With plentiful facts within these article show how racism is still alive and taking a toll on blacks. For example Retired James Fletcher(black) a railway laborer spent more than he bargain for when recieving a loan from Atlantic Mortgage Co. He needed 5,000 to fix his roof. He lived in a lower income black neighborhood. So after all the calculations of Mr.Fletcher would owe the bank 31,ooo. Shocking! Evidence shows if that were a white person the payback would have been way lower. Racism is still alive and its sad. Lower income blacks especially, need loans somethimes to help with the everyday struggles. So why should an already wealthy person who can afford to pay back loans, owe the bank the minimum to a lower income family paying the max.

2 comments:

  1. I felt like I was being tought when I read this blog good deal!

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  2. I somewhat wondered the same thing. It's kind of boggled my mind to see that wealthy families have to pay back the minimum amount to the back, but when it comes to the family that's in need the most, banks suggests that they pay a grand amount of money; IN ONE LARGE SUM!!!! It's ridiculous and cruel.

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