The Color of Money

Lays out how, over centuries, policymakers wrote Black Americans out of the economic systemBaradarans work resonates now as millions protest around the U.S.speaking out not only against police brutality against Black Americans, but the systemic racism that pervades Americas institutions. * Huffington Post * Baradaranprovides a deep accounting of how America got to a point where a median white family has 13 times more wealth than the median black family. -- Gillian B. White * The Atlantic * Black capitalism has not improved the economic lives of black people, and Baradaran deftly explains the reasons whyBanking today already offers low interest loans and free services to the wealthy, while reserving payday lending and check cashing for those with the least resources. Baradarans lesson is that a separate system of black capitalism would intensify, rather than ameliorate, this dynamic along the lines of race. -- Armond Towns and Carolyn Hardin * Los Angeles Review of Books * Baradarans point is to show how white and Black Americans effectively live in two separate economies As a work of history, the book contains a disturbingly coherent narrative of racist plunder spanning from the Freedmans Bureau bank to todays payday lenders Baradarans book is a must read for anyone interested in closing Americas racial wealth gap. -- Guy Emerson Mount * Black Perspectives * Extraordinary Baradaran focuses on a part of the American story thats often ignored: the way African Americans were locked out of the financial engines that create wealth in America, and the way the rhetoric of equal treatment under the law was weaponized, as soon as slavery ended, against efforts to achieve economic equality. -- Ezra Klein * The Ezra Klein Show * Baradaran has produced an important, sobering assessment of historic and contemporary African American banks [She] provides an overview of American and African American economic history from the era of slavery to the present. -- Robert E. Weems, Jr. * American Historical Review * Anyone who manages money, invests in others livelihoods or lives in America should read The Color of MoneyThe book digs into financial institutions and policies that are responsible for creating and maintaining racial inequalities in the United StatesThe book breaks down the stereotypes of self-help dogma that tout save more, dont spend so much or pull yourself up and rejects the idea that those who are not wealthy just need more financial literacy or mentorship. * TechCrunch * Combining a rich historical sweep with in-depth analysis of the mechanics of banking, Baradaran unpacks the brutal dilemma facing black bankshow to create black wealth in the context of a segregated and unequal Jim Crow economy. Baradarans brilliant and devastating analysis leads to an irrefutable conclusion: the racial wealth gap is the product of state law and public policy, and will only be reversed when the same governmental tools that created segregation and discrimination are deployed to end it. -- Beryl Satter, author of <i>Family Properties: How the Struggle over Race and Real Estate Transformed Chicago and Urban America</i> Observers as different in time and ideology as Frederick Douglass, Malcolm X, and Ronald Reagan have argued that black banks represent perhaps the best hope for securing a just society. As Baradaran powerfully maintains, however, any effort to restrict responsibility to banks alone or black people alone will always be doomed to failure. A swift, beautiful, and chastening book, The Color of Money reminds us, yet again, that black poverty is not really an economic problem, but rather a political problem requiring political solutions. -- N. D. B. Connolly, author of <i>A World More Concrete: Real Estate and the Remaking of Jim Crow South Florida</i> Baradaran provides a pivotal understanding of how our racialized history structured the

Mehrsa Baradaran is Professor of Law at UCI Law and a celebrated authority on banking law. In addition to the prizewinning The Color of Money, she is author of How the Other Half Banks. She has advised US senators and representatives on policy and spoken at national and international forums including the World Bank.