Economy

Predatory Lending Rooted in Antebellum South: Study

WASHINGTON INFORMER — A doctoral student at the College of William & Mary in Williamsburg, Virginia, recently compiled evidence that traces predatory lending practices to the pre-emancipated South. In her research, Amanda Gibson found that in comparison to today’s standards, in the informal financial world of antebellum Virginia, African Americans were often as collateral for loans or sold to pay off debt. African-Americans were also sometimes participants in the personal side of pre-emancipation credit, usually taking out loans in pursuit of freedom.

Published

6 years ago

April 18, 2019

Oakland Post

By WI Web Staff

A doctoral student at the College of William & Mary in Williamsburg, Virginia, recently compiled evidence that traces predatory lending practices to the pre-emancipated South.

In her research, Amanda Gibson found that in comparison to today’s standards, in the informal financial world of antebellum Virginia, African Americans were often as collateral for loans or sold to pay off debt. African-Americans were also sometimes participants in the personal side of pre-emancipation credit, usually taking out loans in pursuit of freedom.

“Enslaved people borrowed to purchase themselves or family members from slave owners,” Gibson said. “Free African Americans borrowed to pay jail fees to protect themselves from predatory re-enslavement schemes.”

When pursuing these personal loans, African Americans faced two barriers, according to Gibson. The first was finding someone to loan them money, considering most lenders at the time were unsympathetic Whites.

The second, especially for enslaved borrowers, was securing the cash to pay off the loan. Some were able to make arrangements with their owners to be paid for doing more work than required. Others used their small amount of free time to earn money through tending gardens, fishing, sewing, or any other marketable pursuit, Gibson discovered.

Even though a small amount of enslaved people were allowed to pursue extra work, most were not, and, of those who were allowed to earn some money, most received less food and clothing from their owners as a result.

Additionally, it was not uncommon for slave owners to borrow money from their slaves and more often than not, the slaves were never repaid.

“One woman I found in the sources baked late into the night after she had completed her work for her mistress,” Gibson said. “Her breads and cakes were highly sought-after, and she built up a small war chest so she could purchase family members who were in danger of being sold.

“Unfortunately, her mistress found out how much she had accumulated and borrowed the money from her,” said Gibson, who will complete her doctorate next year at William & Mary. “The mistress died, and the enslaved woman was never repaid.”

Gibson’s project, “Credit is Due: African Americans as Borrowers and Lenders in Antebellum Virginia,” won her a two-year predoctoral fellowship at the Carter G. Woodson Institute for African-American and African Studies at the University of Virginia.

This article originally appeared in the Washington Informer.

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Activism

LIVE! — TOWN HALL ON RACISM AND ITS IMPACT — THURS. 11.14.24 5PM PST

Join us for a LIVE Virtual Town Hall on the Impact of Racism hosted by Post News Group Journalist Carla Thomas and featuring Oakland, CA NAACP President Cynthia Adams & other Special Guests.
Thursday, November 14, 2024, 5 p.m. – 6:30 p.m. PST

Published

5 days ago

November 12, 2024

Oakland Post

Discussion Topics:
• Since the pandemic, what battles have the NAACP fought nationally, and how have they impacted us locally?
• What trends are you seeing concerning Racism? Is it more covert or overt?
• What are the top 5 issues resulting from racism in our communities?
• How do racial and other types of discrimination impact local communities?
• What are the most effective ways our community can combat racism and hate?

Your questions and comments will be shared LIVE with the moderators and viewers during the broadcast.

STREAMED LIVE!
FACEBOOK: facebook.com/PostNewsGroup
YOUTUBE: youtube.com/blackpressusatv
X: twitter.com/blackpressusa

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NAACP California-Hawaii State Convention Highlights Black Voter Engagement, and More

A Friday panel featuring NAACP Chairman Leon W. Russell and Regina Wilson, Executive Director of California Black Media, examined Project 2025, an initiative perceived as a potential threat to civil rights, healthcare access, and environmental protection. This session emphasized Project 2025’s projected impact on Black communities, noting that policies within the initiative could diminish gains in civil and environmental rights over decades. Russell and Wilson highlighted the need for vigilant monitoring and community mobilization to address these challenges.

Published

2 weeks ago

November 4, 2024

Oakland Post

NAACP State Conference President Rick Callender (right) engages in a discussion on voter engagement and community advocacy with NAACP President and CEO Derrick Johnson during the 37th NAACP California-Hawaii State Convention in Los Angeles. Photo by Rich Woods.

By Bo Tefu, California Black Media

The 37th NAACP California-Hawaii State Convention concluded on Sunday, Oct 27, following four days of discussions and workshops at the Los Angeles Airport Marriott. Bringing together civil rights leaders, policymakers, and advocates from California and Hawaii, the convention operated under the theme “All In.” The participants discussed critical issues impacting Black communities, including criminal justice reform, health equity, economic empowerment, education, environmental justice, and voting rights.

On Saturday, the President’s Fireside Chat brought together NAACP President Derrick Johnson and CA/HI State Conference President Rick Callender, who discussed the urgency of voter engagement and community advocacy.

Guest speakers included Congresswoman Maxine Waters (D-CA-43), who spoke at the Women in NAACP (WIN) Labor Luncheon about the intersection of labor rights and civil rights. California State Superintendent Tony Thurmond delivered remarks at the Leadership Dinner on education equity, focusing on policies to ensure all students have access to high-quality education.

Honors were given to longtime social justice advocate and former Assemblymember Mike Davis for his work in community activism. At the same time, actor and activist Danny Glover and the Rev. Dr. Amos C. Brown received the 2024 Legacy Hall of Fame Awards, recognizing their lifelong commitments to advancing civil rights.

The convention also offered practical workshops, including “What’s On Your Ballot?,” where coalition leaders provided analyses of California propositions, explaining their potential impacts on community rights and resources. The Voter Turnout Workshop provided background and encouraged participants to promote voter turnout through community-centered outreach strategies.

Sunday’s events closed with a Prayer and Memorial Breakfast honoring the contributions of past and current civil rights leaders.

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Fights Narrowly Break Out at Business Strike Press Conference at Oakland City Hall

Recall supporters called for a one-day business strike for the second year in a row to demand that the city do more to ensure public safety is a priority and that business owners are not plagued by the ongoing retail crime. Less than five minutes into the press conference, opponents of the recall began yelling at the recall supporters. This caused many recall volunteers to become upset with the “hecklers.”

Published

2 weeks ago

November 4, 2024

Oakland Post

Supporters of the recalls against Oakland Mayor Sheng Thao and Alameda County District Attorney Pamela Price, along with local political candidates and business owners, at a press conference outside Oakland City Hall. Speakers called for a city-wide, one-day business strike to protest against threats to public safety. Photo by Magaly Muñoz.

By Magaly Muñoz

What was intended to be a press conference for a planned city-wide business strike turned into two separate altercations between supporters and opponents of the recall of Oakland Mayor Sheng Thao and Alameda District Attorney Pamela Price in front of Oakland City Hall.

Less than five minutes into the press conference, opponents of the recall began yelling at the recall supporters. This caused many recall volunteers to become upset with the “hecklers.”

One recall volunteer confronted the Thao supporters and attempted to physically intimidate them while also screaming obscenities in their faces. After several moments, the volunteer was pulled away from the Thao supporters and returned to the conference.

Soon after that incident, Ray Bobbitt, founder of the African American Sports and Entertainment Group (AASEG) that now owns the Oakland Coliseum, walked up to the rally and attempted to take the microphone from Seneca Scott, leader of the Thao recall efforts. The situation soon escalated as Scott pushed Bobbitt away.

Scott has made several comments at press conferences and on social media that the Coliseum sale deal is a fraud and that AASEG will not provide the city with the promised multi-million dollar funds. Bobbitt told the Post that he is tired of Scott “being a bully” and only wanted to talk through whatever issues Scott had with AASEG.

When Bobbitt asked Scott to talk privately, Scott responded with a threatening remark. Bobbitt soon left the scene after several people talked him down.

“We really need to abandon the toxicity. I’m here to bring our community together, not divide it,” Bobbitt told the Post.

Back with the recall group and business owners, speakers said that businesses are scared to file police reports because Oakland officers “don’t care anymore” and are scared that their insurance rates will increase.

“We’re here today because the last blood of our city is leaking out with no tourniquet. Cities run on commerce. The only reason for a city is commerce. Failure to protect commerce leads to a dying city,” Scott said.

Several businesses in the last year have closed down, such as In-N-Out Burger and Denny’s on the Hegenberger corridor, citing public safety concerns. Local businesses have also left because of break-ins, homelessness, and overall lack of security.

At the time of last year’s business strike, crime was up 26% from the year before, according to Oakland police data. Rumors of a Thao recall were also building around this event.

Crime today is down 37%, according to the same data. This point has been used heavily in Thao’s attempt to rally support against the recall against her.

Speakers at the Tuesday press conference said some owners were sleeping at their businesses for fear of people breaking in to steal from them or vandalize their locations.

“The only things that are not locked up in the stores are criminals,” one speaker said.

Rally organizers claimed that over 200 businesses were participating in the strike. But when the Post asked recall organizers if they could provide a list of all the participants, the request was denied.

“This is an example of the sort of chaos the recall campaign seeks to create in Oakland. This is the last minute last ditch stunt of a coal investor funded campaign that has realized that Oakland residents are going to say NO to the $10 million price tag, the chaos and the division their campaign represents,” a Thao supporter spokesperson said ahead of the business strike.