Reimagining Reparations As America’s Marshall Plan And Not Just A Payday
Congratulations Fam,
I hear that you’ve finally secured the bag, otherwise known as reparations. A cool $800,000 to be paid in eight annual installments, the first $100,000 of which arrived in your bank account today. Well, maybe not quite $100k, but about $75,000 after taxes. Still some nice coin.
So, how should we get the party started? You say you want to finally buy a house for you and your family? Seventy-five grand is not gonna get you that deluxe apartment on the upper East side, but it’s a nice downpayment on a three-bedroom condo in Teaneck or Tallahassee. All you have to do is pop into the bank and sign on the dotted line . . . but wait one cotton pickin’ minute; is that a subprime mortgage?
Perhaps America’s worst- kept secret is that usurious, adjustable mortgages were not designed to help African Americans who don’t have money but to exploit those who do.