Cash on the Block

In 2021, big business pledged to address racial inequality with a donation of $50 billion. However, there was a quid pro quo, as 90% of the funds were devoted to mortgage loans and investments. Unfortunately, this bait and switch was typical in how business and government dealt with racial inequality in the financial system. As African Americans moved into urban areas, disinvestment often followed, leaving a depleted and rotting infrastructure. The government blamed the citizenry, yet refused to address the flight of businesses, which led to rampant unemployment and often fueled the crime problem. Legislation meant to address the inequities in lending to minorities was often toothless, as money earmarked to address key problems often went straight to private interests. The tide would change with community activists such as Gale Cincotta taking the battle directly to politicians, but the struggle for equality would be long and hard fought.

Cash on the Block compassionately profiles the uphill battle faced by reformers seeking to upend an unfair and rigged system that has reigned for decades in the United States. Author Beryl Satter has penned a meticulous and damning study of government failures in seeking equal treatment of their citizens while illustrating the brave voices who have clamored for change.