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Summary: The Case For Reparations

Decent Essays

In “The Case for Reparations, “Ta-Nehisi Coates argues that “plunder in the past made plunder in the present efficient.” (Coates X) What he is trying to say is that in the past slaves are taken advantage of and everything belonging to them was strip away and stolen from them, using slaves as a financial benefit of property. As a result of this stealing became an easier way for Banks to take advantage of the blacks in the present day. The economic events that occur in the past still influence what happens to people’s money in the present. For Instance, Ta-Nehisi Coates says “In 1860, slaves as an asset were worth more than all of America’s manufacturing, all of the railroads, all of the productive capacity of the United States put together.” (David W. Blight) (Coates X) Slaves was a generator for fortune intended for anyone who owned a slave, it is because of slaves that the United States were able to produce a …show more content…

Dubbing itself “the nation’s leading originator of home loans to ethnic minority customers.” (Coates X) Well Fargo intentions was simple, it was to make black people believe that what their bank is doing is for them but really all it really matter was taking all of their money by telling the blacks that they are going to educate them about “generational wealth”. Soon after Wells Fargo would pay back for what they have been doing for the past 5 years, “In 2010, the Justice Department filed a discrimination suit against Wells Fargo alleging that the bank had shunted blacks into predatory loans regardless of their creditworthiness.” (Coates X) While this may seem to be a win for the black community the damage was already done “In 2009, half the properties in Baltimore whose owners had been granted loans by Wells Fargo between 2005 and 2008 were

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