@stilleaworkinprogress: Reparations are not a handout. Wall Street owes its foundation to slavery. Mom explains: 🏦 JP Morgan’s hidden history with slavery 💸 Property vs Capital Assets ➕ The math behind the racial wealth gap 💰 The economics of slavery #DidYouKnow #historytiktokcontest #edutokcontest #learnontiktokcontest #edutok

cheridaterrill :

Auntie when are you hosting a summer camp for adults that just want to listen and engage in person?! 🤩

winstonforcongress.com :

J.P. Morgan (the modern bank) was **not directly founded or operated by J. Pierpont Morgan Sr. before 1865**, since he was born in 1837 and founded Drexel & Morgan in **1871**—after the Civil War ended. However, **two predecessor banks** that later became part of J.P. Morgan Chase were complicit in financing slavery prior to 1865: ### Key facts about the predecessor banks' involvement: | Aspect | Details | |--------|---------| | **Banks involved** | **Citizens' Bank** (formed 1833, Louisiana) and **Canal Bank** (formed 1831, Louisiana) [1][2] | | **Primary mechanism** | Accepted **enslaved people as collateral** for loans to plantation owners [2][6] | | **Scale** | Approximately **13,000–21,000 enslaved individuals** listed as collateral from 1831–1865 [1][2] | | **Foreclosures** | When loans went unpaid, banks took ownership of enslaved people as collateral—approximately **1,300 enslaved individuals** owned by Louisiana banks after foreclosures [1][7] | | **Additional involvement** | Predecessor banks (Merchants' Bank & Leather Manufacturers' Bank) were exclusive bankers for a **$2.5 million slave life insurance venture** in 1852 [5] | ### What this means: - These banks **financed slavery** by providing credit to plantation owners using enslaved people as抵押 (collateral), effectively treating human beings as bankable assets[2][6] - When borrowers defaulted, the banks **became slave owners** and presumably sold the enslaved people[7] - In **2005**, J.P. Morgan Chase publicly **apologized** for these predecessor banks' roles and disclosed the findings[3][2]

Nathoniaw :

every time she passes my fyp I learn something!

🍉 MurphyKristovsky 🇨🇦🍁🦫🫎 :

When Marx wrote about abolishing private property he meant abolishing private capital, not property. The private capital must not be owned by capitalists but by the people who physically work inside of it. The USSR interpreted this as converting private capital into public capital when it makes more sense that the private capital organizations be run democratically by their worker-owners so that there is no longer any exploitation without direct accountability to those exploited, and the value created by the aggregate of the labour efforts of everyone in the organization are distributed in a way that is approved democratically.

Big_Guy_NW_LG :

Thank You so much. JPMorgan Chase is the undisputed largest bank in the United States and holds a dominant position as the most valuable bank in the world by market

ChanB :

Of course the American banks and insurance companies. But it would also be important to include the Bank of England. They owe as well.

CareBear :

Shuuush, my show is on. 👀

ashefongugu :

Imagine having a mom this smart and knowledgeable… this is beautiful

AJ :

See also insurance companies and their policies

Shy Shy :

Let me go n ahead and follow this lady.

Amber :

I love her passion for correct information 👏👏👏

Gvantsa Narimanidze :

Every video is full of value. Respect.

Rep. Zack Hawkins :

People miss this. Also, the scale of slaves owned was more than more than most of our current employees combined of big box employers/companies

Simeon Mills :

THIS EVEN NEED EXPLAINING

Alejandro Ramirez :

Mom for president! She would shut any opponent down in a debate.

Shorty.love88 :

thank you for this information.

Miss2 :

Thank you for telling me about JP Morgan I had no idea

Scyrus... :

Skia Bia | Skintelligencia ✨️ :

My favorite kind of human. Smart, passionate and excitable.

🍄‍🟫Brenda🥦Dreads🍄 :

I love her 🥹

💸💋HunnyBunny4Eva | UGC 💋💸 :

yes, my mom taught me all this as well.

Layla J. Production & Mgmt :

and that's 1 reason why I will never bank with Chase