Wall Street’s Dark Legacy: A History Built on Human Exploitation

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Breakdown:

  1. The Founding of Wall Street as a Slave Market
    • Explain how Wall Street’s origins in 1711 were rooted in the trade of enslaved Africans. Detail how New York City officials mandated that enslaved Black individuals available for hire were to be “marketed” at what is now Wall Street.
  2. Banks and the Commodification of Enslaved People
    • Dive into the role of U.S. banks and financial institutions in the enslavement economy. Describe how banks provided loans to plantation owners with enslaved people as collateral, treating human lives as commodities for profit.
  3. Financial Giants Built on Slavery Profits
    • List the major corporations that thrived off slavery through loans, ownership stakes, and even policies like slave insurance, which compensated slave owners for “loss of property” while enslaved individuals and their families received nothing.
  4. The Aftermath of Abolition: Peonage and Convict Leasing
    • Discuss how the end of slavery in 1865 did not mean an end to exploitation. Examine practices such as peonage, convict leasing, and chain gangs that continued to force Black Americans into labor through the loophole in the 13th Amendment.
  5. Wall Street’s Hidden Legacy of Exploitation
    • Conclude by emphasizing the importance of remembering the full history of Wall Street, understanding its roots in the exploitation of human lives, and recognizing the systems that continue to impact society today.