What Happened to the Money of African Americans After 1970? (What did banks do about this?)

In 1960, Black neighborhoods were filled with economic hope. Families were buying homes, businesses were opening, and money was circulating within the community. Then something changed. Today, the median wealth of Black families is one-tenth that of white families. This is no coincidence—it is systematic destruction. Banks redlined Black neighborhoods as “uninvestable,” denied mortgages, and drove down home values. Predatory lending in the 1980s and 90s: Black families paid double interest rates and lost everything through foreclosure sales. The 2008 subprime crisis halved Black wealth. Mass incarceration, loss of factory jobs, educational inequality, workplace discrimination—every system attacked Black wealth. Wells Fargo and Bank of America made settlements, but the damage is irreparable. Today, the wealth gap is 8 to 1. This is not individual failure, it is the result of policy. Redlining was not legal, predatory lending was not legal, systematic racism destroyed wealth. Repair is necessary. Accountability is necessary. The future must be built without the mistakes of the past.

00:00 Intro: From Economic Hope to Destruction
01:33 Redlining: The Systematic Devaluation of Black Neighborhoods
04:22 Predatory Lending Practices
05:13 Contract Sales: The Trap of Homeownership Without Equity
06:13 The Subprime Mortgage Crisis Targeting
07:33 Denial of Business Capital & Loans
08:43 Mass Incarceration & The Economic Cost of the War on Drugs
10:17 Deindustrialization & Loss of Manufacturing Jobs
11:15 The Lack of Intergenerational Wealth Transfer
12:08 Education Disparities & The Student Loan Trap
13:36 Pensions & Social Security Inequalities
14:55 The Disproportionate Impact of the 2008 Crisis
16:40 The Wealth Gap Today (8 to 1 Ratio)
17:19 Conclusion: Systemic Destruction vs. Resilience

Golden Yesterdays is a nostalgia channel that brings back the warmth of the 60s, 70s, 80s, and 90s.
Here, the past comes alive through memories of home life, family traditions, classic recipes, old habits, childhood moments, vintage TV shows, forgotten brands, retro music, and the golden days of the neighborhood.