University of Virginia historian Justene Hill Edwards gave Caleb and Greg “a strong B” on their podcast episode about Freedman's Savings Bank. Nevertheless, they were eager to learn more about this Reconstruction Era fraud. Dr. Edwards’s new book, “Savings and Trust: The Rise and Betrayal of the Freedman’s Bank” tells the story in rigorous detail, the effects of which have repercussions to this day.
Sponsors
Tabs - https://ohmyfraud.promo/tabs
Forwardly - https://ohmyfraud.promo/forwardly
Mercury - https://ohmyfraud.promo/mercury
- (00:00) - Welcome to Oh My Fraud
- (03:38) - Recap of the Freedman's Bank Episode
- (06:14) - Justene Hill Edwards' Background
- (15:37) - The Origins of Freedman's Bank
- (26:50) - Challenges and Expansion of Freedman's Bank
- (35:33) - Corruption and Illegal Loans
- (50:44) - The Puzzle of Banking: Balancing Loans and Deposits
- (53:39) - The Lending Bonanza and Its Consequences
- (54:26) - Edgar Ketchum's Confrontation with Cook
- (57:03) - The Public Perception and Marketing of Freedman's Bank
- (59:07) - The Panic of 1873 and Its Impact
- (01:03:25) - Frederick Douglass Takes Charge
- (01:11:09) - The Bank's Closure and Aftermath
- (01:15:28) - Investigations and Lack of Accountability
- (01:21:55) - The Legacy of Freedman's Bank
- (01:30:27) - Final Thoughts and Reflections
Buy Justene's Books
https://www.amazon.com/Savings-Trust-Rise-Betrayal-Freedmans/dp/1324073853
https://www.amazon.com/Unfree-Markets-Capitalism-Carolina-Columbia/dp/0231191138
Connect with Justene
https://www.justenehilledwards.com
https://www.linkedin.com/in/justene-hill-edwards-ph-d-265111104
HOW TO EARN FREE CPE
In less than 10 minutes, you can earn 1 hour of NASBA-approved accounting CPE after listening to this episode. Download our mobile app, sign up, and look for the Oh My Fraud channel. Register for the course, complete a short quiz, and get your CPE certificate.
Download the app:
Apple: https://apps.apple.com/us/app/earmark-cpe/id1562599728
Android: https://play.google.com/store/apps/details?id=com.earmarkcpe.app
Questions? Need help? Email support@earmarkcpe.com.
CONNECT WITH THE HOSTS
Greg Kyte, CPA
Twitter: https://twitter.com/gregkyte
LinkedIn: https://www.linkedin.com/in/gregkyte/
Caleb Newquist
Twitter: https://twitter.com/cnewquist
LinkedIn: https://www.linkedin.com/in/calebnewquist/
Email us at ohmyfraud@earmarkcpe.com
The Freedman’s Bank Forum obscures the bank’s real history [Washington Post]
Savings and Trust: The Rise and Betrayal of the Freedman's Bank [W.W. Norton]
Justene Hill Edwards Interview: Unveiling America's Roots & Lincoln's Legacy [YouTube]
The Road to Fraud Is Paved With Good Intentions | The Case of Freedman’s Bank [OMF, Ep. 51]
Popular Podcasts
On Purpose with Jay Shetty
I’m Jay Shetty host of On Purpose the worlds #1 Mental Health podcast and I’m so grateful you found us. I started this podcast 5 years ago to invite you into conversations and workshops that are designed to help make you happier, healthier and more healed. I believe that when you (yes you) feel seen, heard and understood you’re able to deal with relationship struggles, work challenges and life’s ups and downs with more ease and grace. I interview experts, celebrities, thought leaders and athletes so that we can grow our mindset, build better habits and uncover a side of them we’ve never seen before. New episodes every Monday and Friday. Your support means the world to me and I don’t take it for granted — click the follow button and leave a review to help us spread the love with On Purpose. I can’t wait for you to listen to your first or 500th episode!
Dateline NBC
Current and classic episodes, featuring compelling true-crime mysteries, powerful documentaries and in-depth investigations. Special Summer Offer: Exclusively on Apple Podcasts, try our Dateline Premium subscription completely free for one month! With Dateline Premium, you get every episode ad-free plus exclusive bonus content.
24/7 News: The Latest
The latest news in 4 minutes updated every hour, every day.