How the Other Half Banks

Exclusion, Exploitation, and the Threat to Democracy

De: Mehrsa Baradaran

Narrado por: Priya Ayyar

The United States has two separate banking systems today - one serving the well-to-do and another exploiting everyone else. How the Other Half Banks contributes to the growing conversation on American inequality by highlighting one of its prime causes: unequal credit. Mehrsa Baradaran examines how a significant portion of the population, deserted by banks, is forced to wander through a Wild West of payday lenders and check-cashing services to cover emergency expenses and pay for necessities - all thanks to deregulation that began in the 1970s and continues decades later.

In an age of corporate megabanks with trillions of dollars in assets, it is easy to forget that America's banking system was originally created as a public service. Banks have always relied on credit from the federal government, provided on favorable terms so that they could issue low-interest loans. But as banks grew in size and political influence, they shed their social contract with the American people, demanding to be treated as a private industry free from any public-serving responsibility. They abandoned less profitable, low-income customers in favor of wealthier clients and high-yield investments. Fringe lenders stepped in to fill the void. This two-tier banking system has become even more unequal since the 2008 financial crisis.

Baradaran proposes a solution: reenlisting the US Post Office in its historic function of providing bank services. The post office played an important but largely forgotten role in the creation of American democracy, and it could be deployed again to level the field of financial opportunity.

©2016 Mehrsa Baradaran (P)2016 Blackstone Audio, Inc.

another winner

love her books. straightforward content and very enlightening. you begin to see the con game and think of ways to bring balance to fundamental sectors of our world.

incisive and thorough

Covering a range of structures in the financial services industry, from banks to credit unions to cooperative models, this insightful text really digs into the hows and whys of our current economic reality. A must-read.

Full of truth and info on banking and wealth

What a full perspective and informational treatis on banking and the accumulation or lack of wealth for the everyday person. As hard a pill as it is to swallow, I got a full open truth of how and why the "honest" banking methods are not working where I come from. We all need to advocate for change......

History of the banking and loan industry in the US

The book gives a long history of the banking industry. You will understand how banks operate. They are predatory profit making businesses (, at least back in the days).

The USPS has revolutionized the banking specially because of its state, as a public enterprise, and its large network.

The book tells nothing on how the rich bank. If you want to gain intermediate financial literacy, I am inviting you to get course on Financial Maths, and to read another book titled "Debt 101".

Eye opening

This information will make me more aware of how money is moved and used by banks.