The White Wall: How Big Finance Bankrupts Black America
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- Type：Epub+TxT+PDF+Mobi
- Create Date：2022-11-02 10:21:34
- Update Date：2025-09-06
- Status：finish
- Author：Emily Flitter
- ISBN：1982183241
- Environment：PC/Android/iPhone/iPad/Kindle
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Summary
An explosive and deeply reported look at the systemic racism inside the American financial services industry， from acclaimed New York Times finance reporter Emily Flitter。
In 2018， Emily Flitter received a tip that Morgan Stanley had fired a Black employee without cause。 Flitter had been searching for a way to investigate the deep-rooted racism in the American financial industry， and that one tip lit the sparkplug for a three-year journey through the shocking yet normalized corruption in our financial institutions。
Examining local insurance agencies and corporate titans like JPMorgan Chase， BlackRock， and Wells Fargo， The White Wall reveals the practices that have kept the racial wealth gap practically as wide as it was during the Jim Crow era。 Flitter exposes hiring and layoff policies designed to keep Black employees from advancing to high levels; racial profiling of customers in internal emails between bank tellers; major insurers refusing to pay Black policyholders’ claims; and the systematic denial of funding to Black entrepreneurs。 She also gives a voice to victims， from single mothers to professional athletes to employees themselves: people who were scammed， lied to， and defrauded by the systems they trusted with their money， and silenced when they attempted to speak out and seek reform。
Flitter connects the dots between data， history， legal scholarship， and powerful personal stories to provide an assiduously reported， eye-opening look at what it means to bank while Black。 As America continues to confront systemic racism and pave a path forward， The White Wall is an essential examination of one of its most caustic contributors。
In 2018， Emily Flitter received a tip that Morgan Stanley had fired a Black employee without cause。 Flitter had been searching for a way to investigate the deep-rooted racism in the American financial industry， and that one tip lit the sparkplug for a three-year journey through the shocking yet normalized corruption in our financial institutions。
Examining local insurance agencies and corporate titans like JPMorgan Chase， BlackRock， and Wells Fargo， The White Wall reveals the practices that have kept the racial wealth gap practically as wide as it was during the Jim Crow era。 Flitter exposes hiring and layoff policies designed to keep Black employees from advancing to high levels; racial profiling of customers in internal emails between bank tellers; major insurers refusing to pay Black policyholders’ claims; and the systematic denial of funding to Black entrepreneurs。 She also gives a voice to victims， from single mothers to professional athletes to employees themselves: people who were scammed， lied to， and defrauded by the systems they trusted with their money， and silenced when they attempted to speak out and seek reform。
Flitter connects the dots between data， history， legal scholarship， and powerful personal stories to provide an assiduously reported， eye-opening look at what it means to bank while Black。 As America continues to confront systemic racism and pave a path forward， The White Wall is an essential examination of one of its most caustic contributors。
Reviews
Noah
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“Anti-Racism Daily” Newsletter: https://twitter。com/FlitterOnFraud/st。。。 “Anti-Racism Daily” Newsletter: https://twitter。com/FlitterOnFraud/st。。。 。。。more
Vanessa
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“White Americans hold， on average， almost $1 million in family wealth compared with an average of just $143，000 for Black American families—less than 15 percent of white families’ totals。 The size of this gap was largely the same in 1968， just as some of the civil rights era’s landmark antidiscrimination laws were going into effect。…Most notably， in the years just after the 2008 financial crisis， Black families’ fortunes shrank by 50% while those of white families stopped shrinking and stabilize “White Americans hold， on average， almost $1 million in family wealth compared with an average of just $143，000 for Black American families—less than 15 percent of white families’ totals。 The size of this gap was largely the same in 1968， just as some of the civil rights era’s landmark antidiscrimination laws were going into effect。…Most notably， in the years just after the 2008 financial crisis， Black families’ fortunes shrank by 50% while those of white families stopped shrinking and stabilized after a 30% drop。”The intense rage that I felt while reading this book is still burning fire within me。 I am a white woman who lives in a major American city and I’ve never been redlined。 I’ve never been denied access to my bank accounts， my money， investment funds， etc。 because of my race。 I have never had the police called on me because I have never had to be upset that a bank or investment firm has asked me to leave whether as an employee or a customer。 And yet it happens to Black people all the time as hurdles are consistently being put in front of them。 Flitter shows damning evidence that racism is alive and well in the financial system。 The White Wall makes an excellent case for why reparations are needed。 White people have built this system for the good of our own。 It should be up to us to dismantle and rebuild it for the equality and equity of all people。 This book is not going to be popular among those in the financial sector but it is sorely needed as another detailed point of view to the largely secretive nature of the financial world。 Thank you to @netgalley and @atriabooks for this eARC。 The White Wall is out now。 。。。more
Vanessa
，
“White Americans hold， on average， almost $1 million in family wealth compared with an average of just $143，000 for Black American families—less than 15 percent of white families’ totals。 The size of this gap was largely the same in 1968， just as some of the civil rights era’s landmark antidiscrimination laws were going into effect。…Most notably， in the years just after the 2008 financial crisis， Black families’ fortunes shrank by 50% while those of white families stopped shrinking and stabilize “White Americans hold， on average， almost $1 million in family wealth compared with an average of just $143，000 for Black American families—less than 15 percent of white families’ totals。 The size of this gap was largely the same in 1968， just as some of the civil rights era’s landmark antidiscrimination laws were going into effect。…Most notably， in the years just after the 2008 financial crisis， Black families’ fortunes shrank by 50% while those of white families stopped shrinking and stabilized after a 30% drop。”The intense rage that I felt while reading this book is still burning fire within me。 I am a white woman who lives in a major American city and I’ve never been redlined。 I’ve never been denied access to my bank accounts， my money， investment funds， etc。 because of my race。 I have never had the police called on me because I have never had to be upset that a bank or investment firm has asked me to leave whether as an employee or a customer。 And yet it happens to Black people all the time as hurdles are consistently being put in front of them。 Flitter shows damning evidence that racism is alive and well in the financial system。 The White Wall makes an excellent case for why reparations are needed。 White people have built this system for the good of our own。 It should be up to us to dismantle and rebuild it for the equality and equity of all people。 This book is not going to be popular among those in the financial sector but it is sorely needed as another detailed point of view to the largely secretive nature of the financial world。 Thank you to @netgalley and @atriabooks for this eARC。 The White Wall is out now。 。。。more
Eleanor With Cats
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