Vice President Kamala Harris recently called on the government to make an intention of restructuring its economic system and said that existing systems are inherently racist.
Harris spoke at a forum to discuss proactive strategies to increase financial access and capital for racial minority groups. She shifted the conversation to more radical approaches and pointed out fundamental racial problems with the current financial system. She said that some of the designs were not intended to benefit the people she was referring to and added that it was designed for other people. She said that with a smile.
Harris stated that the financial system is designed to provide access to capital and information to people already having access to it. She stated that it’s more than a state of mind with this new approach, but about restructuring the system.
Harris also discussed the goal of eradicating racial wealth disparity and ensuring equal access to distributions of resources in the economy. She said that part of the challenge in ensuring equal access to and equitable distribution of resources is that the people need to know their rights. Harris stated that the coronavirus pandemic has only raised concerns about people trusting the system or whether it works for them.
Harris spoke about her efforts to fight the big banks during the California foreclosure crisis. She said that black and Brown homebuyers were charged twice the interest rates and that this made them twice as likely for their homes to be foreclosed by banks.
The vice president spoke at the event about economic justice and claimed that Dr. Martin Luther King Jr. was assassinated for his efforts to organize workers. VP Harris said that Dr. King was organizing sanitation workers when he was assassinated. She said he was joining the civil rights movement with the economic justice movement.