for almost half of America.

このお札を使っていました

On multiple bills were people picking cotton.

綿花栽培に従事する―

Enslaved people.

奴隷の姿

These slaves didn't just represent wealth in America.

当時の米国において奴隷は ―

They were wealth.

富そのもの

By 1863, they were worth over $3 billion.

1863年 その価値は 30億ドル以上に

Since then, America has slowly, painfully, transformed as a country,

その後 米国は人種差別の 根絶に挑んできました

breaking down racial barrier...

それは困難な ―

after racial barrier.

道のりでした

[Martin Luther King Jr.] I am very optimistic about the future.

私はとても楽観的だ

Frankly, I have seen certain changes in the United States that surprise me.

驚くような変化が すでに起きている

So on the basis of this,

この調子なら ―

I think we may be able to get a Negro president in less than 40 years.

40年以内に黒人大統領が 誕生するかも

I would think in 25 years or less.

25年以内かもしれない

[narrator] Wealth is different.

でも経済は？

Wealth is where past injustices breed present suffering.

過去の差別が 今の経済不均衡を生んでる

I think the racial wealth gap speaks to the fact

人種間の貧富の差は―

that we still have a long way to go

平等な社会が―

to achieve ideals of equality in this country.

実現していない証拠だ

The racial wealth gap is a measure

人種による貧富の差は―

of the white family and the African-American family

白人世帯と黒人世帯の―

that's right smack-dab in the middle, the median.

資産中央値に表れている

[narrator] The median white household's wealth:

白人世帯の資産から負債を 引いた額の平均は ―

their savings, assets, minus their debts,

17万1000ドル

is $171,000.

黒人世帯は １万7600ドルです

The median black household's is $17,600.

この格差は 広がり続けています

And that gap is still growing...

人種別世帯資産中央値

and growing.

なぜでしょう

Why?

これらの真理を信じ… NETFLIX オリジナルドキュメンタリー

[Martin Luther King Jr.] We hold these truths to be self-evident...

学ぶ権利があるのに 学費が払えない

We have the right to go to any school in America, but we can't pay the tuition.

私が住む家は 奴隷が建てたものです

I wake up every morning in a house that was built by slaves.

アメリカンドリームを 叶える時です

The American dream need not forever be deferred.

全ての人は平等に創られた

[Martin Luther King Jr.] ...that all men are created equal.

公平に分けないなら家を ―

[Malcom X] If they can't have their equal share in the house,

焼き払うだろう

they'll burn it down.

私は綿花を摘み 鉄道を敷いた

I picked the cotton... and I built the railroads

ムチで打たれ…

under someone else's whip...

報酬はゼロ

for nothing.

皆無だった

For nothing.

人種による貧富の差

[narrator] In January, 1865,

1865年 １月―

the Civil War was ending.

南北戦争が終結

Union general William Sherman and Secretary of War Edwin Stanton

北軍のW･シャーマン大将と Ｅ･スタントン長官は―

gathered a group of 20 black leaders

20名の黒人指導者に ―

and asked them what the black community needed

解放後に必要なものは何か？

to build lives in freedom.

そう尋ねました

Reverend Garrison Frazier, the leader of the group,

指導者の Ｇ･フレイジャーは ―

answered simply.

答えました

"The way we can best take care of ourselves

“自立に必要なのは ―”

is to have land."

“土地だ”と

Four days after the meeting,

その４日後 ―

Sherman issued Special Field Order No. 15.

シャーマンは特令を発令

It set aside hundreds of thousands of acres of land,

元奴隷達に 膨大な土地を用意し ―

saying, "Each family shall have a plot

“各世帯に5万坪の ―”

of not more than 40 acres of tillable ground."

“土地を与える”としました

The day before his second inauguration,

リンカーンは ２期目就任前日 ―

Lincoln signed a bill that made the plan official.

この法案に署名 計画は正式化

America was almost a very different country.

アメリカは 変わるところでした

[upbeat music playing]

実現しませんでした

But it didn't turn out that way.

リンカーンは暗殺され ―

Weeks later, Lincoln was dead.

後任のＡ･ジョンソンは 方針を変更

His successor, Andrew Johnson, quickly reversed course.

平等を唱えた瞬間 ―

Immediately once we say, "Okay, equal rights"

〝奴隷所有以外の 財産権を復権…〞

then you have a white backlash that says, "What about our rights?"

白人からの反発が起きた

[narrator] By the end of that year,

その年末には ―

thousands of freed slaves who had received land were evicted.

元奴隷は土地から 立ち退かされました

In just a year after slavery,

奴隷解放からわずか１年後 ジョンソン大統領は ―

President Johnson complained about discrimination...

白人が差別されている と主張しました

against whites.

こうして黒人が246年間 働いて生んだ富は ―

Quote: "In favor of the negro."

全て白人のものに

But slaves had been creating wealth for their owners for 246 years.

富の特徴は 時とともに ―

That wealth, whites got to keep.

育つということ

And there's an amazing thing about wealth that people who have it know well:

ジェイ･Ｚいわく…

it grows,

１００万ドルで 　　　　絵を買った

across generations. Just ask Jay-Z.

２年後は 　２００万に値上がり ―

[Jay-Z] ♪ I bought some artwork for one million ♪

数年後には800万だ

♪ Two years later that shit worth two million ♪

“子供にいい遺産ができた”

♪ Few years later, that shit worth eight million ♪

確かに富は富を生む

"I can't wait to give this shit to my children."

100万から800万 うまい話だ

One thing it says is that wealth begets wealth.

危険で高額な賭けを せずとも時間をかければ ―

Turn one million into eight,

富は膨らみます

raise your hand if you wanna take that deal.

安定した国に住み 長期投資すれば ―

[narrator] It doesn't take a risky, Picasso-sized bet

価値は上がります

to see wealth grow dramatically.

複利

It just takes time.

重要なのは複利の仕組み

If you live in a stable country and can invest long-term,

アメリカ流が一番！

values generally go up.

1863年に100ドル 投資したとします

That's why you need to know about compounding interest.

米株式市場の年利は ―

Imagine you took $100 and invested it in 1863.

平均７％程度です

The average annual inflation-adjusted return

年を追うごとに ―

in the US stock market has been around 7%.

少しずつ増え続け ―

The next year, it's worth a bit more...

投資した100ドルは 今や350万ドルに

and a bit more, and a bit more.

今も白人と比べて 黒人の所得は低く ―

Today, that $100 would be worth more than $3.5 million.

失業率も高いです

To this day, African-Americans make a lot less money than whites.

雇用差別も存在します

They're far more likely to be unemployed,

この格差が解消できても ―

and studies show employers still discriminate.

長年の不平等は 主に不動産を通して ―

But even if we managed to close those gaps right now,

蓄積されています

centuries of inequality have already compounded,

富は不動産を通して得られる

most powerfully through land and housing.

中間層の資産は ―

Usually, in this century, any wealth that's captured is through property.

約60％が住宅資産

[narrator] For the American middle class,

白人の多くが ―

home equity accounts for around two-thirds of wealth.

こんな経歴を持っています

So if you're a white American,

両親が家を買ったの

you're likely to have parents or grandparents with a story like this.

50年前に 価格は１万4000ドル

[woman] My parents bought a house

それが今では おそらく 60万か70万ドルに

probably now 50 years ago, paid $14,000 for it then,

家やその場所 地域社会の特性などは―

and it is worth now probably about $600,000 to $700,000.

とても大きな意味を 持つものだ

[Cory Booker] Most people don't understand the power of housing,

その環境を作ったのは 政府でした

of where you live,

大恐慌で ―

of what opportunities exist in that community.

住宅所有者の半数が 支払い不履行に

[narrator] The government played a huge role in making that happen.

公園では失業者たちが ―

During the Great Depression,

１日中 座っています

almost half of all city homeowners were in default.

住宅ローン負債に関する 救済措置 ルーズベルト大統領は 非常策を実施

[male announcer] The men are sitting in the parks all day long,

ニューディールにより 債務が軽減されます

out of work, muttering to themselves.

抵当貸しが一気に普及した

[narrator] Franklin Delano Roosevelt took action with the New Deal.

家を持つことが アメリカンドリームに

...by providing for the easing of the burden of debt.

ただし 政府は ―

So the New Deal unleashes mortgage credit to the population.

高リスク地域のローンを 保証しませんでした

[narrator] The American dream and owning a home became synonymous.

リスクの基準は人種

But the new Federal Housing Administration

〝売り家〞

wouldn't insure mortgages in areas it decided were too risky.

黒人の増加は住宅価格の 下落を意味しました

And the way that risk is calculated is by race.

黒人が越してくると 地域に影響が？

A black family moving in was seen as a threat to housing prices.

彼らの入居を許すと―

[interviewer] Do you think a Negro family moving here

土地の価値が下がります

will affect the community as a whole?

黒人の多い地域は 融資対象から外され ―

I think that the property values will immediately go down

地図上に赤い線で 囲まれました

if they're allowed to move in here in any number.

“レッドライニング”

[narrator] So when the FHA drew maps of where they wouldn't insure loans,

地図上の特定地域を ―

the neighborhoods with more black families were colored in red.

実際赤線で囲んだ

[Cory Booker] Redlining is not a figurative metaphor.

人種差別がさらなる 差別を正当化しました

You would literally see maps drawn

住宅は中間層の 資産の2/3を占める

where entire neighborhoods were redlined off.

なのに購入する 機会を奪われた

[narrator] The effects of racism became a justification for more racism.

政府による隔離は 様々な影響を―

[man] If two-thirds of America's middle-class wealth

職の選択や子供の学校 ―

is in the form of home ownership,

家族の安全 ―

that opportunity to own a home has now just been excluded.

住宅価格などに

[narrator] Federally enforced segregation affected every part of life:

1968年 住宅関連の 人種差別が違法に

the jobs you could access, where your children went to school,

公正な住宅取引が ―

how safe they were,

アメリカのあるべき姿です

and whether your home increased in value.

しかし差別は残ります

[all] ♪ Keep your eyes on the prize... ♪

ブッカー議員の両親は 69年に家を購入しました

[narrator] It wasn't until 1968 that housing discrimination was outlawed.

家探しの途中で 色々あったそうだ

[Lyndon B. Johnson] Fair housing for all human beings

不動産屋が紹介するのは ―

is now a part of the American way of life.

黒人の多い地域の家ばかり

[narrator] But that didn't mean housing discrimination ended.

白人地域の家は ―

Consider what it took

“売却済み”と言われる

for Cory Booker's family to get their house in 1969.

彼らは人権団体と 作戦を立て ―

My parents began looking for homes, but finding just odd things happening,

白人の夫婦に代理で 価格交渉を頼みました

where real estate agents, if they saw them beforehand,

交渉は成立 契約のサインには ―

they would only show them homes in African-American communities.

私の父と その弁護士が赴いた

If it was a house in a white neighborhood,

不動産屋は激怒

my parents would be told, "This house is already sold."

父の弁護士を殴りつけ―

[narrator] Booker's parents set up a sting operation

取っ組み合いに

with a civil rights group.

その家の犬も参戦して ―

The next time they were turned away,

大乱闘で窓が割れる事態に

a white couple arrived and made an offer on their behalf.

不動産屋はやがて ―

[Cory Booker] The bid was accepted, and on the day of the closing,

父に懇願したそうだ

the white couple did not show up. My father did, and the lawyer,

“諦めてくれ”

and the real estate agent was so angry,

黒人世帯が 一つ増えるだけで―

stands up, and punches my dad's lawyer.

地価が下がると思ったようだ

Literally they're fighting, scrambling,

ブッカー家は 無事家を買い ―

and there was a dog in the corner, and he sicced the dog on my father.

順調に富を育てました

So my father's now trying to fight off a big dog, a window was smashed,

おかげで―

but eventually things settled, and the real estate agent was desperate,

父はその後 同じ町内で もっといい家を買った

and started begging my father: "You don't wanna move here,

余裕のある中間層に 入ることができたんだ

your people are not here."

これは例外的ケース

He was so afraid that one black family would move in,

奴隷解放100年後も ―

and somehow it would destroy his business and drive down real estate rates.

自宅所有率の格差は歴然

[narrator] Cory Booker and his parents ended up getting that house

90年代には ―

and that house helped build his future.

銀行や政治家が ここに目をつけました

It built wealth incredibly.

差別は人道に もとるばかりか―

My father rolled into another house in the same town,

経済に有害であることが わかっています

an even bigger house, going from poverty

90年代 政府は 住宅融資拡大を促進

to being very comfortably in the middle class

住宅取引の不平等を 是正します

in the United States of America, and really thriving.

黒人の自宅所有率は上昇

[narrator] That wasn't the typical story.

格差は表面上 縮まり始めました

100 years of discrimination since slavery

彼らが必要としていたのは―

left a huge home ownership gap.

1980年以前と同じ 普通のローンだった

By the '90s, banks and politicians realized what that meant...

人種別にみた サブプライムローン

an opportunity.

黒人は白人の２倍の確率で ―

Discrimination is patently immoral,

サブプライムローンを 組むことに

but it is now increasingly being seen as unprofitable.

信用度の低い人が 対象の融資で ―

[narrator] In the '90s, the government made a push

利率が急上昇します

to open up the mortgage market.

しかし黒人は 信用度が高くても ―

...to help families who have historically been excluded from home ownership.

約２割がサブプライム

[narrator] Black home ownership started ticking up.

ベス･ジェイコブソン 譲渡抵当専門家 ウェルズ･ファーゴの サブプライム担当でした

It looked like the wealth gap might start closing at long last.

ボルチモア市 対 ウェルズ･ファーゴ銀行

So you've got people who are hungry for these loans,

黒人教会を標的にしました

but what they want is the regular loans that everyone else got

教会で講習会を開いて ―

from 1934 until 1980.

住宅購入の話をした

[narrator] Instead, African-Americans were twice as likely as white Americans

牧師たちも大賛成だったわ

to get subprime loans,

“地域の助けになる”と

a loan that starts out cheap, and gets much more expensive.

顧客を獲得すると 教会には ―

for borrowers with lower credit.

寄付金が払われました

But one in five black borrowers with good credit

彼らが勧めたのは サブプライムだけ

still ended up with a subprime loan.

信用度が高い人であってもね

I was a loan officer at Wells Fargo in their subprime division.

４点半、６…

[narrator] So Beth heard the conference calls

株価大暴落

where Wells Fargo planned to target black churches.

戦後最悪の金融危機

[Jacobson] They were termed "wealth building seminars"

悪質 無責任な 住宅融資が原因 ―

and that was about purchasing homes.

サブプライムローンが…

The minister of these churches thought this was a great idea,

黒人社会は 資産の53％を失った

something to help the parishioners in the community.

世帯資産中央値の推移

[narrator] The bank would give the church a donation

〝救済より投獄を！〞

for each parishioner who ended up getting a mortgage.

金融業界のトップレベルに いた人間達は ―

[Jacobson] So the people in the congregation didn't realize

無責任な選択を重ねたのに ―

the loan officer they were talking to

援助を得て 立ち直っている

was only going to sell them a subprime loan,

黒人社会は 今も苦しんでいる

even if they had 800 credit scores.

彼らの為の援助は ―

[man Four and a half, six.

計画すらされなかった

[female reporter] Stock market breakdown.

複数の大手金融機関が ―

The worst financial crisis since World War II.

差別訴訟を示談

...fueled by mortgage lending that wasn't sound or responsible.

ウェルズ･ファーゴは ―

[female reporter] ...led by borrowers of high-risk subprime loans.

差別は否定したものの １億7500万ドルを ―

Black communities lost 53% of their wealth.

支払いました

It's hurtful to see a lot of those folks

ニューディールとは違い ―

who were at the highest levels of the world of finance

政府の4400億ドル救済政策は 住宅所有者に ―

who made fabulously irresponsible decisions,

向けられませんでした

that those people have been made whole, those institutions have been made whole,

そして ある動画が 大きな反響を呼びます

but for communities like mine that are still struggling,

近所の人のローンを―

that there wasn't some kind of vision or plan

肩代わりしたい人は―

to try to help those folks get back on their feet.

手を挙げて！

[narrator] Many of the biggest mortgage lenders in the country

オバマ大統領 聞こえますか？

settled discrimination lawsuits.

７月にシカゴで 茶会をひらく

Although it denied targeting black borrowers,

資本主義者は集まれ

Wells Fargo agreed to pay $175 million.

私が主催する

Unlike in FDR's New Deal,

ＵＳＡ！ ＵＳＡ！

the government's $440 billion program to address the housing crisis

白人と黒人の 教育レベルを―

mostly didn't go to home owners.

人種別の大卒率 白人世帯　黒人世帯

The assistance, and a single viral clip, triggered a backlash.