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How the Other Half Banks

Independent bookstore Book Culture welcomes Mehrsa Baradaran in conversation with Kathryn Judge and Zephyr Teachout about her new book How the Other Half Banks: Exclusion, Exploitation, and the Threat to Democracy.

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, all thanks to deregulation that began in the 1970s and continues decades later.

It is easy to forget that America’s banking system was originally created as a public service. But as banks grew in size and political influence, they shed their social contract with the American people and abandoned less profitable, low-income customers in favor of wealthier clients and high-yield investments. Fringe lenders stepped in to fill the void.

In How the Other Half Banks, Baradaran proposes a solution: reenlisting the U.S. 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.

This is a free event and Mehrsa Baradaran will be available to sign books following the discussion.  











When: Thu., Oct. 29, 2015 at 7:00 pm - 8:30 pm
Where: Book Culture
536 W. 112th St.
212-865-1588
Price: Free
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Independent bookstore Book Culture welcomes Mehrsa Baradaran in conversation with Kathryn Judge and Zephyr Teachout about her new book How the Other Half Banks: Exclusion, Exploitation, and the Threat to Democracy.

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, all thanks to deregulation that began in the 1970s and continues decades later.

It is easy to forget that America’s banking system was originally created as a public service. But as banks grew in size and political influence, they shed their social contract with the American people and abandoned less profitable, low-income customers in favor of wealthier clients and high-yield investments. Fringe lenders stepped in to fill the void.

In How the Other Half Banks, Baradaran proposes a solution: reenlisting the U.S. 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.

This is a free event and Mehrsa Baradaran will be available to sign books following the discussion.  

Buy tickets/get more info now