Racism has a cost for everyone | Heather C. McGhee

228,289 views ใƒป 2020-05-08

TED


ืื ื ืœื—ืฅ ืคืขืžื™ื™ื ืขืœ ื”ื›ืชื•ื‘ื™ื•ืช ื‘ืื ื’ืœื™ืช ืœืžื˜ื” ื›ื“ื™ ืœื”ืคืขื™ืœ ืืช ื”ืกืจื˜ื•ืŸ.

ืชืจื’ื•ื: Noi Jaffe ืขืจื™ื›ื”: Ido Dekkers
00:12
I am a public policy wonk.
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ืื ื™ ื’ื™ืงื™ืช ืฉืœ ืชื—ื•ื ื”ืžื“ื™ื ื™ื•ืช ื”ืฆื™ื‘ื•ืจื™ืช.
00:15
I investigate data that points to problems in the American economy --
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ืื ื™ ื—ื•ืงืจืช ืžื™ื“ืข ื”ืžืฆื‘ื™ืข ืขืœ ื‘ืขื™ื•ืช ื‘ื›ืœื›ืœื” ื”ืืžืจื™ืงืื™ืช --
00:20
problems like rising household debt,
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ื‘ืขื™ื•ืช ื›ื’ื•ืŸ ืขืœื™ื™ื” ื‘ื—ื•ื‘ื•ืช ืžืฉืง ื”ื‘ื™ืช,
00:23
declining wages and benefits,
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ื™ืจื™ื“ื” ื‘ืฉื›ืจ ื•ื‘ื”ื˜ื‘ื•ืช,
00:25
shortfalls in public revenue.
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ืงื™ืฆื•ืฅ ื‘ื”ื›ื ืกื•ืช ื•ื‘ืจื•ื•ื—ื™ื ืฆื™ื‘ื•ืจื™ื™ื.
00:28
And I try to pinpoint solutions
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ื•ืื ื™ ืžื ืกื” ืœืืชืจ ืคืชืจื•ื ื•ืช
00:30
to make our economy more prosperous for more people.
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ืฉื™ื’ืจืžื• ืœืฆืžื™ื—ื” ื›ืœื›ืœื™ืช ืœื›ืžื” ืฉื™ื•ืชืจ ืื ืฉื™ื.
00:34
I geek out about tax policy
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ืื ื™ ืžืชืœื”ื‘ืช ืžืžื“ื™ื ื™ื•ืช ืžื™ืกื•ื™
00:37
and infrastructure investments,
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ื•ื”ืฉืงืขื•ืช ื‘ืชืฉืชื™ื•ืช,
00:40
and I get really excited
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ื•ืื ื™ ื‘ืืžืช ืžืชืœื”ื‘ืช
00:41
by a gracefully designed regulatory regime.
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ืžืžืฉื˜ืจื™ ื•ื™ืกื•ืช ื”ืžืขื•ืฆื‘ื™ื ื‘ื—ื™ื ื ื ื™ื•ืช.
00:44
(Laughter)
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(ืฆื—ื•ืง)
00:46
These are the kinds of topics that I was talking about
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ืืœื• ืกื•ื’ื™ ื”ื ื•ืฉืื™ื ืฉื“ื™ื‘ืจืชื™ ืื•ื“ื•ืชื
00:50
on a public television live call-in show in August of 2016.
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ื‘ืžื•ืคืข ื˜ืœืคื•ื ื™ ื—ื™ ืฉืฉื•ื“ืจ ื‘ื˜ืœื•ื•ื™ื–ื™ื” ื”ืฆื™ื‘ื•ืจื™ืช ื‘ืื•ื’ื•ืกื˜ 2016.
00:56
I was about halfway through the program
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ื–ื” ื”ื™ื” ื›ื‘ืจ ื‘ืืžืฆืข ื”ืชื›ื ื™ืช
00:58
when a man called in,
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ื›ืืฉืจ ื’ื‘ืจ ืœื‘ืŸ ื”ืชืงืฉืจ,
00:59
identified as Gary from North Carolina
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ื•ื”ืฆื™ื’ ืืช ืขืฆืžื• ื‘ืชื•ืจ ื’ืจื™ ืžืงืจื•ืœื™ื™ื ื” ื”ืฆืคื•ื ื™ืช
01:02
and he said ...
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ื•ื”ื•ื ืืžืจ...
01:05
"I'm a white male, and I'm prejudiced."
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"ืื ื™ ื’ื‘ืจ ืœื‘ืŸ, ื•ืื ื™ ื’ื–ืขืŸ".
01:11
He then went on to detail his prejudice,
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ื•ืื—ืจ ื›ืš ื”ื•ื ื”ืžืฉื™ืš ื•ืชื™ืืจ ืืช ื“ืขื•ืชื™ื• ื”ื’ื–ืขื ื™ื•ืช,
01:14
talking about black men and gangs
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ื”ื•ื ืกื™ืคืจ ืขืœ ืื ืฉื™ื ืฉื—ื•ืจื™ื ื•ืขืœ ื›ื ื•ืคื™ื•ืช
01:17
and drugs and crime.
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ืขืœ ืกืžื™ื ื•ืคืฉืข.
01:20
But then he said something that I'll never forget.
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ืื‘ืœ ืื– ื”ื•ื ืืžืจ ืžืฉื”ื• ืฉืื ื™ ืœื ืื•ื›ืœ ืœืฉื›ื•ื—.
01:24
He said, "But I want to change.
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ื”ื•ื ืืžืจ, "ืื‘ืœ ืื ื™ ืจื•ืฆื” ืœื”ืฉืชื ื•ืช.
01:27
And I want to know what I can do to become a better American."
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ื•ืื ื™ ืจื•ืฆื” ืœื“ืขืช ืžื” ืื ื™ ื™ื›ื•ืœ ืœืขืฉื•ืช ื›ื“ื™ ืœื”ืคื•ืš ืœืืžืจื™ืงืื™ ื˜ื•ื‘ ื™ื•ืชืจ."
01:34
Now remember, my career is about economic policy,
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ืชื–ื›ืจื•, ื”ืงืจื™ื™ืจื” ืฉืœื™ ื ื•ื’ืขืช ื‘ืžื“ื™ื ื™ื•ืช ื›ืœื›ืœื™ืช,
01:38
as translated into dollars and cents
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ืฉืžืชื•ืจื’ืžืช ืœื“ื•ืœืจื™ื ื•ืกื ื˜ื™ื
01:40
not personal thoughts and feelings.
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ืœื ืœืžื—ืฉื‘ื•ืช ื•ืจื’ืฉื•ืช ืื™ืฉื™ื™ื.
01:43
But when I opened my mouth to respond to this man on live television,
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ืื‘ืœ ื‘ืจื’ืข ืฉืคืชื—ืชื™ ืืช ืคื™ ื‘ืฉื‘ื™ืœ ืœืขื ื•ืช ืœืื•ืชื• ืื“ื,
01:48
the most surprising words came out.
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ื™ืฆืื• ืœื™ ื”ืžื™ืœื™ื ื”ืžืคืชื™ืขื•ืช ื‘ื™ื•ืชืจ.
01:51
I said ...
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ืืžืจืชื™ ...
01:52
"Thank you."
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"ืชื•ื“ื”."
01:54
I thanked him for admitting his prejudice,
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ื”ื•ื“ื™ืชื™ ืœื• ืขืœ ื›ืš ืฉื”ื•ื“ื” ื›ื™ ื”ื•ื ื’ื–ืขืŸ ื•ื‘ืขืœ ื“ืขื•ืช ืงื“ื•ืžื•ืช,
01:57
for wanting to change and for knowing, somehow,
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ืขืœ ืฉื”ื•ื ืจื•ืฆื” ืœื”ืฉืชื ื•ืช, ื•ืขืœ ื”ื™ื“ื™ืขื”, ืื™ื›ืฉื”ื•,
02:00
that that would make him a better American.
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ืฉื–ื” ื™ื’ืจื•ื ืœื• ืœื”ืคื•ืš ืœืืžืจื™ืงืื™ ื˜ื•ื‘ ื™ื•ืชืจ.
02:04
The exchange between Gary and me went viral.
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ื”ืฉื™ื—ื” ื‘ื™ื ื™ ืœื‘ื™ืŸ ื’ืจื™ ื”ืคื›ื” ื•ื™ืจืืœื™ืช.
02:08
It's been viewed over eight million times
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ื”ื™ื ื ืฆืคืชื” ืžืขืœ 8 ืžื™ืœื™ื•ืŸ ืคืขืžื™ื
02:11
and inspired waves of social media commentary
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ื•ืขื•ื“ื“ื” ื’ืœื™ื ืฉืœ ืชื’ื•ื‘ื•ืช ื‘ืื™ื ื˜ืจื ื˜ ื•ื‘ืžื“ื™ื”
02:14
and news coverage.
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ื•ืฉื™ื“ื•ืจื™ ื—ื“ืฉื•ืช.
02:17
And I think people were surprised
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ื•ืื ื™ ื—ื•ืฉื‘ืช ืฉืื ืฉื™ื ื”ื™ื• ืžื•ืคืชืขื™ื
02:19
that a black woman would show such compassion
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ืฉืื™ืฉื” ืฉื—ื•ืจื” ื”ืจืืชื” ื’ื™ืœื•ื™ื™ ื—ืžืœื” ืฉื›ืืœื•
02:22
for a prejudiced white man,
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ื›ืœืคื™ ืื“ื ื’ื–ืขืŸ ืœื‘ืŸ,
02:23
and they were surprised that a white man would admit his bias
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ื•ื”ื ื”ื•ืคืชืขื• ืฉืื“ื ืœื‘ืŸ ื”ืชื•ื•ื“ื” ืขืœ ื“ืขื•ืชื™ื• ื”ื’ื–ืขื ื™ื•ืช
02:27
on national television.
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ื‘ื˜ืœื•ื•ื™ื–ื™ื” ื”ืœืื•ืžื™ืช.
02:30
Not long after Gary and my viral moment,
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ืœื ื”ืจื‘ื” ื–ืžืŸ ืื—ืจื™ ื’ืจื™ ื•ื”ืจื’ืข ื”ื•ื™ืจืืœื™ ืฉืœื™,
02:34
we met in person.
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ื ืคื’ืฉื ื•.
02:36
He said that he had taken my advice.
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ื”ื•ื ืกื™ืคืจ ืœื™ ืฉื”ื•ื ืœืงื— ืืช ืขืฆืชื™.
02:38
He said that my words had been like someone wiped the dust from a window
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ื”ื•ื ืืžืจ ืฉื”ื“ื‘ืจื™ื ืฉืืžืจืชื™ ื”ืจื’ื™ืฉื• ืœื• ื›ืžื• ืฉืžื™ืฉื”ื• ื‘ื ื•ื ื™ืงื” ืืช ื”ืื‘ืง ืžื”ื—ืœื•ืŸ
02:43
and let the light in.
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ื•ืื™ืคืฉืจ ืœืื•ืจ ืœื—ื“ื•ืจ ืคื ื™ืžื”.
02:46
Over the years, Gary and I have become friends.
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ืœืื•ืจืš ื”ืฉื ื™ื, ื’ืจื™ ื•ืื ื™ ื”ืคื›ื ื• ืœื—ื‘ืจื™ื.
02:50
And Gary would tell you that I've taught him a lot
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ื•ื’ืจื™ ื™ื’ื™ื“ ืœื›ื ืฉืœื™ืžื“ืชื™ ืื•ืชื• ื”ืจื‘ื”
02:52
about systemic racism in America and public policy.
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ืขืœ ื’ื–ืขื ื•ืช ืฉื™ื˜ืชื™ืช ื‘ืืžืจื™ืงื” ื•ืขืœ ืžื“ื™ื ื™ื•ืช ืฆื™ื‘ื•ืจื™ืช.
02:56
But I've learned a lot from Gary, too.
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ืื‘ืœ ื’ื ืื ื™ ืœืžื“ืชื™ ืจื‘ื•ืช ืžื’ืจื™.
02:59
And the biggest lesson for me
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ื•ื”ืฉื™ืขื•ืจ ื”ื’ื“ื•ืœ ื‘ื™ื•ืชืจ ืขื‘ื•ืจื™
03:01
has been that Gary's prejudice has caused him to suffer.
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ื”ื™ื” ืฉื”ื“ืขื•ืช ื”ื’ื–ืขื ื™ื•ืช ืฉืœ ื’ืจื™ ื’ืจืžื• ืœื• ืœืกื‘ืœ.
03:07
Fear, anxiety, isolation.
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ืคื—ื“, ื—ืจื“ื”, ื‘ื™ื“ื•ื“.
03:11
And it's made me rethink
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ื•ื–ื” ื’ืจื ืœื™ ืœื—ืฉื•ื‘ ืžื—ื“ืฉ
03:13
many of the economic problems I've been focusing on
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ืขืœ ื”ืจื‘ื” ืžื”ื‘ืขื™ื•ืช ื”ื›ืœื›ืœื™ื•ืช ืฉื”ืชืžืงื“ืชื™ ื‘ื”ืŸ
03:16
my entire career.
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ื›ืœ ื”ืงืจื™ื™ืจื” ืฉืœื™.
03:18
I wondered,
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ืชื”ื™ืชื™,
03:20
is it possible that our society's racism
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ื”ืื ื™ื™ืชื›ืŸ ืฉื”ื’ื–ืขื ื•ืช ื”ื—ื‘ืจืชื™ืช ืฉืœื ื•
03:25
has likewise been backfiring on the very same people
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ื‘ืžื™ื“ื” ืฉื•ื•ื”, ืžื–ื™ืงื”, ืœืื•ืชื ืื ืฉื™ื ืฉืžื—ื–ื™ืงื™ื ื‘ื”
03:31
set up to benefit from privilege?
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ื•ืžื•ื ืขืช ืžื”ื ืœื”ื ื•ืช ืžื”ื–ื›ื•ื™ื•ืช ืฉืœื”ื?
03:36
Driven by this question,
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ืžื•ื ืขืช ืขืœ ื™ื“ื™ ืฉืืœื” ื–ื•,
03:37
I've spent the past few years traveling the country,
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ื”ืขื‘ืจืชื™ ืืช ืฉื ื•ืชื™ื™ ื”ืื—ืจื•ื ื•ืช ื‘ืจื—ื‘ื™ ื”ืžื“ื™ื ื”,
03:39
researching and writing a book.
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ื‘ืžื—ืงืจ ื•ื‘ื›ืชื™ื‘ืช ืกืคืจ.
03:43
My conclusion?
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ื”ืžืกืงื ื” ืฉืœื™?
03:45
Racism leads to bad policymaking.
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ื’ื–ืขื ื•ืช ืžื•ื‘ื™ืœื” ืœื™ืฆื™ืจืช ืžื“ื™ื ื™ื•ืช ื’ืจื•ืขื”.
03:50
It's making our economy worse.
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ื”ื™ื ื”ื•ืจืกืช ืืช ื”ื›ืœื›ืœื” ืฉืœื ื•.
03:53
And not just in ways that disadvantage people of color.
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ื•ืœื ืจืง ื‘ืžื•ื‘ืŸ ืฉืœ ื”ืคืœื™ื™ืช ืื ืฉื™ื ืฆื‘ืขื•ื ื™ื™ื.
03:57
It turns out it's not a zero sum.
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ื ืจืื” ืฉืœื ืžื“ื•ื‘ืจ ื‘ืกื›ื•ื ืืคืก.
04:01
Racism is bad for white people, too.
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ื’ื–ืขื ื•ืช ื”ื™ื ื‘ืขื™ื™ืชื™ืช ื’ื ื›ืœืคื™ ืื ืฉื™ื ืœื‘ื ื™ื.
04:07
Take, for example,
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ืงื—ื• ืœืžืฉืœ,
04:09
America's underinvestment in our public goods,
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ืืช ื—ื•ืกืจ ื”ื”ืฉืงืขื” ืฉืœ ืืžืจื™ืงื” ื‘ื˜ื•ื‘ืช ื”ืฆื™ื‘ื•ืจ,
04:13
the things that we all need, that we share in common --
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ื‘ื“ื‘ืจื™ื ืฉื›ื•ืœื ื• ืฆืจื™ื›ื™ื, ืฉืื ื—ื ื• ื—ื•ืœืงื™ื ื‘ืžืฉื•ืชืฃ --
04:16
our schools and roads and bridges.
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ื‘ืชื™ ื”ืกืคืจ ืฉืœื ื•, ื”ื›ื‘ื™ืฉื™ื ื•ื”ื’ืฉืจื™ื.
04:19
Our infrastructure gets a D plus
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ื”ืชืฉืชื™ื•ืช ืฉืœื ื• ืงื™ื‘ืœื• ืืช ื”ืฆื™ื•ืŸ ื›ืžืขื˜ ื ื›ืฉืœ
04:22
from the American Society of Civil Engineers,
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ืžื”ื—ื‘ืจื” ื”ืืžืจื™ืงืื™ืช ืœืžื”ื ื“ืกื™ื ืื–ืจื—ื™ื™ื,
04:25
and we invest less per capita than almost every other advanced nation.
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ื•ืื ื—ื ื• ืžืฉืงื™ืขื™ื ืคื—ื•ืช ืœื ืคืฉ ื›ืžืขื˜ ืžื›ืœ ืžื“ื™ื ื” ืžืชืงื“ืžืช ืื—ืจืช.
04:29
But it wasn't always this way.
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ืื‘ืœ ื–ื” ืœื ื”ื™ื” ื›ืš ืชืžื™ื“.
04:32
I traveled to Montgomery, Alabama,
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ื˜ื™ื™ืœืชื™ ืœืžื•ื ื˜ื’ื•ืžืจื™, ืืœื‘ืžื”,
04:33
and there, I saw how racism can destroy a public good
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ื•ืฉื, ืจืื™ืชื™ ืื™ืš ื’ื–ืขื ื•ืช ื™ื›ื•ืœื” ืœื”ืจื•ืก ืืช ื˜ื•ื‘ืช ื”ื›ืœืœ
04:38
and the public will to support it.
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ื•ืืช ืจืฆื•ืŸ ื”ืฆื™ื‘ื•ืจ ืœืชืžื•ืš ื‘ื”.
04:42
In the 1930s and '40s,
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ื‘ืฉื ื•ืช ื”30 ื•ื”-40,
04:44
the United States went on a nationwide building boom of public amenities
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ืืจื”"ื‘ ื”ืžืฉื™ื›ื” ื‘ืคืจื™ืกื” ืืจืฆื™ืช ืฉืœ ืžื‘ื ื™ื ืฆื™ื‘ื•ืจื™ื™ื
04:48
funded by tax dollars,
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ืžืžื•ืžื ื™ื ืขืœ ื™ื“ื™ ื›ืกืคื™ ืžื™ืกื™ื,
04:50
which in Montgomery, Alabama, included the Oak Park pool,
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ืžื” ืฉื›ืœืœ ื‘ืžื•ื ื˜ื•ื’ืžืจื™, ืืœื‘ืžื”, ืืช ืคืืจืง ื”ืžื™ื "Oak",
04:55
which was the grandest one for miles.
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ืฉื”ื™ื” ื”ื’ื“ื•ืœ ื‘ื™ื•ืชืจ ื‘ืื–ื•ืจ.
04:58
You know, back then, people didn't have air conditioners,
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ืืชื ื™ื•ื“ืขื™ื, ืื–, ืœืื ืฉื™ื ืœื ื”ื™ื• ืžื–ื’ื ื™ื ื‘ื‘ืชื™ื,
05:01
and so they spent their hot summer days
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ื•ืœื›ืŸ ื”ื ื”ื™ื• ืžื‘ืœื™ื ืืช ื™ืžื•ืช ื”ืงื™ืฅ ื”ื—ืžื™ื
05:04
in a steady rotation of sunning and splashing
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ื‘ืกื‘ื‘ ืงื‘ื•ืข ืฉืœ ื”ืฉืชื–ืคื•ืช ื•ื”ืฉืชื›ืฉื›ื•ืช ื‘ืžื™ื
05:08
and then cooling off under a ring of nearby trees.
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ื•ืื– ื”ืชืงืจืจื•ืช ื‘ืฆื™ืœื ืฉืœ ืขืฆื™ื ื‘ืื–ื•ืจ.
05:12
It was the meeting place for the town.
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ื–ื” ื”ื™ื” ืžืงื•ื ื”ืžืคื’ืฉ ืฉืœ ื”ืขื™ืจ.
05:16
Except the Oak Park pool,
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ืจืง ืฉืคืืจืง ื”ืžื™ื ื”ื "ืœ,
05:18
though it was funded by all of Montgomery citizens,
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ืœืžืจื•ืช ืฉื”ื™ื” ืžืžื•ืžืŸ ืขืœ ื™ื“ื™ ื›ืœ ืชื•ืฉื‘ื™ ืžื•ื ื˜ื•ื’ืžืจื™,
05:21
was for whites only.
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ืงื‘ืœ ื‘ืฉืขืจื™ื• ืจืง ืื ืฉื™ื ืœื‘ื ื™ื.
05:24
When a federal court finally deemed this unconstitutional,
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ื›ืืฉืจ ืœื‘ืกื•ืฃ ื‘ื™ืช ืžืฉืคื˜ ืคื“ืจืœื™ ืœื‘ืกื•ืฃ ืงื‘ืข ื›ื™ ืžื“ื•ื‘ืจ ื‘ืขื ื™ื™ืŸ ืœื ื—ื•ืงื™,
05:28
the reaction of the town council was swift.
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ืชื’ื•ื‘ืชื• ืฉืœ ืจืืฉ ื”ืขื™ืจ ื”ื™ื™ืชื” ืžื”ื™ืจื”.
05:32
Effective January 1, 1959,
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ื”ื—ืœ ืžื”-1 ื‘ื™ื ื•ืืจ, 1959,
05:36
they decided they would drain the public pool
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ื”ื•ื—ืœื˜ ืœื™ื™ื‘ืฉ ืืช ื”ื‘ืจื›ื” ื”ืฆื™ื‘ื•ืจื™ืช
05:41
rather than let black families swim, too.
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ื‘ืžืงื•ื ืœืืคืฉืจ ื’ื ืœืžืฉืคื—ื•ืช ืฉื—ื•ืจื•ืช ืœืฉื—ื•ืช ื‘ื”.
05:48
This destruction of public goods
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ื”ืจื™ืกืช ืžื‘ื ื” ืฆื™ื‘ื•ืจื™ ื–ื”
05:52
was replicated across the country
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ื’ืจื ืœื”ื“ ื•ืœืฉื›ืคื•ืœ ืžืขืฉื™ื ื›ืืœื• ื‘ื›ืœ ืจื—ื‘ื™ ื”ืžื“ื™ื ื”
05:54
in towns not just in the South.
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ืœื ืจืง ื‘ืขืจื™ื ื“ืจื•ืžื™ื•ืช.
05:57
Towns closed their public parks, pools and schools,
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ืขืจื™ื ืกื’ืจื• ืืช ื”ืคืืจืงื™ื ื”ืฆื™ื‘ื•ืจื™ื™ื, ื‘ืจื™ื›ื•ืช ื•ื‘ืชื™ ืกืคืจ,
06:01
all in response to desegregation orders,
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ื›ืœ ืืœื• ื›ืžืขื ื” ืœื”ืคืกืงืช ื”ื”ืคืจื“ื” ื”ื’ื–ืขื ื™ืช,
06:04
all throughout the 1960s.
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ืœื›ืœ ืื•ืจืš ืฉื ื•ืช ื”-60.
06:06
In Montgomery, they shut down the entire Parks Department
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ื‘ืžื•ื ื˜ื•ื’ืžืจื™, ื”ื ืกื’ืจื• ืืช ื›ืœ ืžื—ืœืงืช ื”ืคืืจืงื™ื
06:09
for a decade.
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ืœืžืฉืš ืขืฉื•ืจ.
06:11
They closed the recreation centers,
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ื”ื ืกื’ืจื• ืืช ื›ืœ ืžืจื›ื–ื™ ื”ื‘ื™ืœื•ื™,
06:13
they even sold off the animals in the zoo.
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ื”ื ืืคื™ืœื• ืžื›ืจื• ืืช ื”ื—ื™ื•ืช ืžื’ืŸ ื”ื—ื™ื•ืช.
06:18
Today, you can walk the grounds of Oak Park, as I did,
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ื›ื™ื•ื, ื ื™ืชืŸ ืœื˜ื™ื™ืœ ื‘ืคืืจืง "Oak", ื›ืžื• ืฉืขืฉื™ืชื™,
06:23
but very few people do.
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ืื‘ืœ ืœื ื”ืจื‘ื” ืื ืฉื™ื ืขื•ืฉื™ื ื–ืืช.
06:25
They never rebuilt the pool.
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ื”ื ืžืขื•ืœื ืœื ื‘ื ื• ืžื—ื“ืฉ ืืช ื”ื‘ืจื™ื›ื”.
06:29
Racism has a cost for everyone.
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ืœื’ื–ืขื ื•ืช ื™ืฉ ืžื—ื™ืจ ืœื›ื•ืœื.
06:34
I remember having that same thought on September 15, 2008,
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ืื ื™ ื–ื•ื›ืจืช ืฉื”ื’ืขืชื™ ืœืžื—ืฉื‘ื” ื”ื–ืืช ื‘-15 ืœืกืคื˜ืžื‘ืจ, 2008,
06:39
when I learned the breaking news that Lehman Brothers was collapsing.
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ื›ืฉืœืžื“ืชื™ ืขืœ ื”ื—ื“ืฉื•ืช ื”ืžืจืขื™ืฉื•ืช ืื•ื“ื•ืช ื ืคื™ืœืช ื—ื‘ืจืช ืœื”ืžืŸ ื‘ืจื•ืช'ืจืก.
06:42
Now Lehman was,
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ื—ื‘ืจืช ืœื”ืžืŸ ื”ื™ื™ืชื”,
06:44
like the other financial firms that would go under in the coming days,
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ื›ืžื• ื›ืœ ื—ื‘ืจืช ืฉื™ืจื•ืชื™ื ืคื™ื ื ืกื™ื ืฉืขืชื™ื“ื” ืœื™ืคื•ืœ ื‘ื™ืžื™ื ืฉืขื•ืžื“ื™ื ืœื‘ื•ื,
06:48
done in by overexposure to a toxic financial instrument
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ื•ืงืจืกื” ื‘ืขืงื‘ื•ืช ื—ืฉื™ืคื” ืžื•ื’ื‘ืจืช ืœื›ืœื™ ืคื™ื ื ืกื™ ืจืขื™ืœ
06:52
based on something that used to be simple and safe --
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ื”ืžื‘ื•ืกืก ืขืœ ื“ื‘ืจ ืฉื”ื™ื” ืคืฉื•ื˜ ื•ื‘ื˜ื•ื— ื‘ืขื‘ืจ --
06:55
a 30-year fixed-rate home loan.
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ืžืฉื›ื ืชื ืœื‘ื™ืช ื‘ืฉื™ืขื•ืจ ืงื‘ื•ืข ืœืžืฉืš 30 ืฉื ื”.
06:59
But the mortgages at the center and the root of the financial crisis
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ืื‘ืœ ื”ืžืฉื›ื ืชืื•ืช ืฉื”ื™ื• ื‘ืœื‘ ื•ื‘ืฉื•ืจืฉ ื”ืžืฉื‘ืจ ื”ื›ืœื›ืœื™
07:03
had strange new terms.
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ื”ื™ื• ื‘ืขืœื•ืช ืชื ืื™ื ืžื™ื•ื—ื“ื™ื ื—ื“ืฉื™ื.
07:06
And they were developed and aggressively marketed for years
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ื•ื”ื ืคื•ืชื—ื• ื•ืฉื•ื•ืงื• ื‘ืื’ืจืกื™ื‘ื™ื•ืช ื‘ืžืฉืš ืฉื ื™ื
07:10
in black and brown middle-class communities,
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ื‘ืงื”ื™ืœื•ืช ืฆื‘ืขื•ื ื™ื•ืช ืฉืœ ืžืขืžื“ ื”ื‘ื™ื™ื ื™ื™ื
07:13
like the one that I visited when I met a homeowner named Glenn.
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ื›ืžื• ื”ืื—ืช ืฉื‘ื™ืงืจืชื™ ื‘ื” ื›ืฉืคื’ืฉืชื™ ื‘ืขืœ ื‘ื™ืช ื‘ืฉื ื’ืœืŸ.
07:18
Glenn had owned a home
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ืœื’ืœืŸ ื”ื™ื” ื‘ื™ืช
07:20
on a leafy street in the Mount Pleasant neighborhood of Cleveland
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ื‘ืจื—ื•ื‘ ื‘ืฉื›ื•ื ืช ืžืื•ื ื˜ ืคืœื–ื ื˜ ื‘ืงืœื™ื‘ืœื ื“
07:24
for over a decade.
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ื›ื‘ืจ ื™ื•ืชืจ ืžืขืฉื•ืจ.
07:26
But when I met him, he was near foreclosure.
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ืื‘ืœ ื›ืืฉืจ ืคื’ืฉืชื™ ืื•ืชื•, ื”ื•ื ื›ื‘ืจ ื”ื™ื” ืงืจื•ื‘ ืœืžืฆื‘ ืฉืœ ืขื™ืงื•ืœ.
07:29
Like nearly all of his neighbors,
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ื›ืžืขื˜ ื›ืžื• ื›ืœ ื”ืฉื›ื ื™ื ืฉืœื•,
07:31
he'd received a knock on the door
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ื“ืคืง ืขืœ ื“ืœืชื• ืžืชื•ื•ืš
07:33
from a broker promising to refinance his mortgage.
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ืฉื”ื‘ื˜ื™ื— ืœืžืžืŸ ืžื—ื“ืฉ ืืช ื”ืžืฉื›ื ืชื ืฉืœื•.
07:36
But what the broker didn't tell him was that this was a new kind of mortgage.
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ืืš ืžื” ืฉื”ืžืชื•ื•ืš ืœื ืกื™ืคืจ ืœื• ืฉื–ื” ื”ื™ื” ืกื•ื’ ื—ื“ืฉ ืฉืœ ืžืฉื›ื ืชื.
07:41
A mortgage with an inflated interest rate,
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ืžืฉื›ื ืชื ื‘ืขืœืช ืจื™ื‘ื™ืช ืžืชื ืคื—ืช,
07:44
and a balloon payment
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ืชืฉืœื•ื ืžื ื•ืคื—
07:45
and a prepayment penalty if he tried to get out of it.
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ื•ืงื ืก ื‘ืฉืœ ืชืฉืœื•ื ืžื•ืงื“ื ื‘ืžื™ื“ื” ื•ื™ื ืกื” ืœืฆืืช ืžื”ื”ืกื›ื.
07:50
Now, the common misperception,
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ื”ื”ื ื—ื” ื”ืžื•ื˜ืขื™ืช,
07:53
then and still today,
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ืื– ื•ื’ื ื”ื™ื•ื,
07:56
is that people like Glenn were buying properties they couldn't afford.
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ื”ื™ื ืฉืื ืฉื™ื ื›ืžื• ื’ืœืŸ ืงื ื• ื ื›ืกื™ื ืฉืœื ื™ื›ืœื• ืœื”ืจืฉื•ืช ืœืขืฆืžื.
08:01
That they themselves were risky borrowers.
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ืฉื”ื ื‘ืขืฆืžื ื”ื™ื• ืœื•ื•ื™ื ืžืกื•ื›ื ื™ื.
08:06
I saw how this stereotype made it harder for policymakers
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ืจืื™ืชื™ ืื™ืš ืกื˜ืจื™ืื•ื˜ื™ืค ื–ื” ื”ืงืฉื” ืขืœ ืงื•ื‘ืขื™ ื”ืžื“ื™ื ื™ื•ืช
08:11
to see the crisis for what it was
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ืœืจืื•ืช ืืช ื”ืžืฉื‘ืจ ื›ืžื• ืฉื”ื•ื ื‘ืืžืช ื”ื™ื”
08:14
back when we still had time to stop it.
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ืื–, ืขื•ื“ ื›ืฉื”ื™ื” ื–ืžืŸ ืœืขืฆื•ืจ ืื•ืชื•.
08:17
But that's all it was.
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ืื‘ืœ ื–ื” ื›ืœ ืžื” ืฉื–ื” ื”ื™ื”.
08:19
A stereotype.
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ืกื˜ืจืื•ื˜ื™ืค.
08:21
The majority of subprime mortgages went to people who had good credit,
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ืจื•ื‘ ื”ืœื•ื•ืื•ืช ื”ืกืื‘ืคืจื™ื™ื ื”ืœื›ื• ืœืื ืฉื™ื ื‘ืขืœื™ ืงืจื“ื™ื˜ ื˜ื•ื‘,
08:26
like Glenn.
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ื›ืžื• ื’ืœืŸ.
08:27
And African Americans and Latinos were three times as likely --
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ืืคืจื•-ืืžืจื™ืงื ื™ื ื•ืœื˜ื™ื ื™ื ื”ื™ื• ื‘ืกื™ื›ื•ืŸ ืฉืœ ืคื™ ืฉืœื•ืฉ--
08:32
even if they had good credit --
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ืืคื™ืœื• ืื ื”ื™ื• ื‘ืขืœื™ ืงืจื“ื™ื˜ ื˜ื•ื‘ --
08:34
than white people, to get sold these toxic loans.
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ืžืื ืฉื™ื ืœื‘ื ื™ื, ืœืงื‘ืœ ืืช ื”ื”ืœื•ืื•ืช ื”ืจืขื™ืœื•ืช ื”ืืœื•.
08:37
The problem wasn't the borrower --
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ื”ืœื•ื•ื” ืœื ื”ื™ื” ื”ื‘ืขื™ื” --
08:39
the problem was the loan.
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ื”ื‘ืขื™ื™ื” ื”ื™ื™ืชื” ื”ื”ืœื•ื•ืื” ืขืฆืžื”.
08:43
After the crash,
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ืื—ืจื™ ื”ื”ืชืจืกืงื•ืช,
08:45
most of the nation's big lenders, from Wells Fargo to Countrywide,
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ืจื•ื‘ ื—ื‘ืจื•ืช ื”ื”ืœื•ื•ืื” ื”ื’ื“ื•ืœื•ืช ืฉืœ ื”ืžื“ื™ื ื”, ืžื•ื•ืœืก ืคืืจื’ื• ืขื“ ืœืงืื ื˜ืจื™ื•ื•ื™ื“,
08:51
would go on to be fined for racial discrimination.
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ื ืงื ืกื• ืœื‘ืกื•ืฃ ืขืœ ืืคืœื™ื” ื’ื–ืขื ื™ืช.
08:54
But that realization came too late.
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ืื‘ืœ ื”ื”ื‘ื ื” ื”ื’ื™ืขื” ืžืื•ื—ืจ ืžื™ื“ื™ื™.
08:57
These loans, superprofitable for the lenders
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ื”ื”ืœื•ืื•ื•ืช ื”ืืœื•, ืจื•ื•ื—ื™ื•ืช ืขื‘ื•ืจ ื”ืžืœื•ื•ื™ื
09:00
but designed to fail for the borrowers,
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ืื‘ืœ ืชื•ื›ื ื ื• ืœื”ืคื™ืœ ืืช ื”ืœื•ื•ื™ื,
09:02
spread out past the confines
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ื”ืชืคืฉื˜ื• ืžืขื‘ืจ ืœื’ื“ืจื•ืช
09:04
of black and brown neighborhoods like Glenn's
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ืฉืœ ืงื”ื™ืœื•ืช ืฆื‘ืขื•ื ื™ื•ืช ื›ืžื• ืฉืœ ื’ืœืŸ
09:07
and into the wider, whiter mortgage market.
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ืœืชื•ืš ืฉื•ืง ื”ืžืฉื›ื ืชืื•ืช ื”ืœื‘ืŸ.
09:12
All of the nation's big Wall Street firms bet on these loans.
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ื›ืœ ื”ื—ื‘ืจื•ืช ื”ื’ื“ื•ืœื•ืช ืฉืœ ื•ื•ืœ ืกื˜ืจื™ื˜ ื”ื™ืžืจื• ืขืœ ื”ื”ืœื•ื•ืื•ืช ื”ืืœื•.
09:16
At its peak,
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ื›ืฉื‘ืฉื™ืื•,
09:17
one out of every five mortgages in the country was in this mold,
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ืื—ืช ืžืชื•ืš ื—ืžืฉ ืžืฉื›ื ืชืื•ืช ื‘ืžื“ื™ื ื” ื”ื™ื™ืชื” ื‘ืชื‘ื ื™ืช ื”ื–ืืช,
09:21
and the crisis,
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ื•ื”ืžืฉื‘ืจ,
09:23
the crisis that my colleagues and I saw coming ...
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ื”ืžืฉื‘ืจ ืฉืื ื™ ื•ื”ืงื•ืœื’ื•ืช ืฉืœื™ ืจืื™ื ื• ืฉืžื’ื™ืข ...
09:28
would go on to cost us all.
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ืขืžื“ ืœืขืœื•ืช ืœื›ื•ืœื ื•.
09:31
Nineteen trillion in lost wealth.
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19 ื˜ืจื™ืœื™ื•ืŸ ื‘ืžื•ื ื—ื™ื ืฉืœ ืื™ื‘ื•ื“ ื”ื•ืŸ.
09:36
Pensions, home equity, savings.
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ืคื ืกื™ื”, ื”ื•ืŸ ืขืฆืžื™, ื—ืกื›ื•ื ื•ืช.
09:40
Eight million jobs vanished.
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8 ืžื™ืœื™ื•ืŸ ืžืงื•ืžื•ืช ืขื‘ื•ื“ื” ื ืžื—ืงื•.
09:45
A home-ownership rate that has never recovered.
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ืื—ื•ื– ื‘ืขืœื™ ื‘ืชื™ื ืฉืœืขื•ืœื ืœื ืฉื•ื—ื–ืจ.
09:51
My years of advocating in vain for homeowners like Glenn
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ืฉื ื™ื ืฉื˜ืขื ืชื™ ืœืฉื•ื•ื ืขื‘ื•ืจ ื‘ืขืœื™ ื‘ืชื™ื ื›ืžื• ื’ืœืŸ
09:55
left me convinced:
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ื”ื•ืชื™ืจื• ืื•ืชื™ ืžืฉื•ื›ื ืขืช:
09:57
we would not have had a financial crisis if it weren't for racism.
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ืœื ื”ื™ื™ื ื• ื ืžืฆืื™ื ื‘ืžืฉื‘ืจ ื›ืœื›ืœื™ ืื ืœื ื”ื™ื™ืชื” ืงื™ื™ืžืช ื’ื–ืขื ื•ืช.
10:05
In 2017, I traveled to Mississippi,
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ื‘ืฉื ืช 2017, ื ืกืขืชื™ ืœืžื™ืกื™ืกื™ืคื™,
10:08
where a group of auto-factory workers was trying to organize into a union.
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ืœืงื‘ื•ืฆืช ืขื•ื‘ื“ื™ื ื‘ืžืคืขืœ ืจื›ื‘ ืฉื ื™ืกืชื” ืœื”ืงื™ื ื”ืชืื—ื“ื•ืช ืขื•ื‘ื“ื™ื.
10:13
Now the benefits they were fighting for --
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ื”ื–ื›ื•ื™ื•ืช ืฉื”ื ื ืœื—ืžื• ืขื‘ื•ืจืŸ --
10:15
higher pay, better health care coverage,
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ืฉื›ืจ ื’ื‘ื•ื” ื™ื•ืชืจ, ื›ื™ืกื•ื™ ื ืจื—ื‘ ืฉืœ ื‘ื™ื˜ื•ื—ื™ ื‘ืจื™ืื•ืช,
10:18
a real pension --
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ืคื ืกื™ื” ืืžื™ืชื™ืช --
10:19
they would have helped everybody at the plant.
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ื”ื ื”ื™ื• ืžื•ื›ื ื™ื ืœืขื–ื•ืจ ืœื›ืœ ืื—ื“ ื‘ืžืคืขืœ.
10:22
But in person after person that I talked to --
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ืื‘ืœ ื›ืœ ื‘ืŸ ืื“ื ืฉื“ื™ื‘ืจืชื™ ืื™ืชื• --
10:25
white, black, for the union, against the union --
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ืœื‘ืŸ, ืฉื—ื•ืจ, ื‘ืขื“ ื”ืื™ื’ื•ื“, ื ื’ื“ื• ---
10:29
race kept coming up.
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ื ื•ืฉื ื”ื’ื–ืขื ื•ืช ื”ื™ื” ื—ื•ื–ืจ ื•ืขื•ืœื” ืžื—ื“ืฉ.
10:32
A white man named Joey put it this way.
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ื’ื‘ืจ ืœื‘ืŸ ื‘ืฉื ื’'ื•ืื™ ื ื™ืกื— ืืช ื–ื” ื›ื›ื”.
10:34
He said,
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ื”ื•ื ืืžืจ,
10:36
"White workers think I ain't voting yes if the blacks are voting yes.
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"ืขื•ื‘ื“ื™ื ืœื‘ื ื™ื ื—ื•ืฉื‘ื™ื ืฉืื ื™ ืœื ืืฆื‘ื™ืข ื‘ืขื“, ืื ื”ืฉื—ื•ืจื™ื ื™ืฆื‘ื™ืขื• ื‘ืขื“.
10:41
If the blacks are for it, I'm against it."
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ืื ื”ืฉื—ื•ืจื™ื ื‘ืขื“, ืื– ืื ื™ ื ื’ื“."
10:44
A white man named Chip told me,
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ื’ื‘ืจ ืœื‘ืŸ ื‘ืฉื ืฆ'ื™ืค ืืžืจ ืœื™,
10:47
"The idea is that if you uplift black people,
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"ื”ืžื—ืฉื‘ื” ื”ื™ื ืฉืื ืชืขื–ื•ืจ ื•ืชืจื™ื ืืช ื”ืฉื—ื•ืจื™ื,
10:50
you're downing white people."
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ืชื•ืจื™ื“ ืืช ื”ืœื‘ื ื™ื."
10:52
It's like the world's got this crab-in-a-barrel mentality.
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ื–ื” ื›ืื™ืœื• ื”ืขื•ืœื ื ื›ื ืก ืœืžื ื˜ืœื™ื•ืช ืฉืœ "ืื ืœื™ ืœื ื˜ื•ื‘, ื’ื ืœืš ืœื ื™ื”ื™ื” ื˜ื•ื‘".
10:57
Now, the union vote failed.
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ืื–, ื”ื”ืฆื‘ืขื” ืขืœ ื”ืื™ื’ื•ื“ ื ืคืœื”.
11:00
Wages at the plant are still lower than their unionized peers',
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ื”ืฉื›ืจ ื‘ืžืคืขืœ ืขื“ื™ื™ืŸ ื ืžื•ืš ืžืขืžื™ืชื™ื”ื ืฉื ืžืฆืื™ื ืชื—ืช ื”ืชืื—ื“ื•ืช ืขื•ื‘ื“ื™ื,
11:05
and people there still worry about their health care.
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ื•ืื ืฉื™ื ืฉื ืขื“ื™ื™ืŸ ื“ื•ืื’ื™ื ืœื‘ื™ื˜ื•ื— ื”ืจืคื•ืื™ ืฉืœื”ื
11:09
You know, it's tempting, perhaps,
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ืืชื ื™ื•ื“ืขื™ื, ื–ื” ืื•ืœื™ ืžืคืชื”,
11:12
to focus on the prejudiced attitudes
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ืœื”ืชืžืงื“ ื‘ื’ื™ืฉื•ืช ื”ื’ื–ืขื ื™ื•ืช
11:16
of the men and the workers that I heard in Mississippi.
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ืฉืœ ื”ืื ืฉื™ื ื•ื”ืขื•ื‘ื“ื™ื ืฉืฉืžืขืชื™ ื‘ืžื™ืกื™ืกื™ืคื™.
11:19
But I'm more interested in holding accountable
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ืื‘ืœ ืื ื™ ื™ื•ืชืจ ืžืขื•ื ื™ื™ื ืช ืœืชืช ื“ื™ืŸ ื•ื—ืฉื‘ื•ืŸ
11:22
the people who are selling racist ideas for their profit
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ืœืื ืฉื™ื ืฉืžื•ื›ืจื™ื ืจืขื™ื•ื ื•ืช ื’ื–ืขื ื™ื™ื ืœืจื•ื•ื—ื™ื•ืชื ื”ืื™ืฉื™ืช
11:26
than those who are desperate enough to buy it.
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ืžืืฉืจ ืœืืœื” ืฉื›ืœ-ื›ืš ื ื•ืืฉื™ื ื‘ืฉื‘ื™ืœ ืœืื›ื•ืœ ืื•ืชื.
11:31
My travels also took me to places
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ื”ืžืกืขื•ืช ืฉืœื™ ืœืงื—ื• ืื•ืชื™ ื’ื ืœืžืงื•ืžื•ืช
11:33
where I saw, however, that it doesn't have to be this way.
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ืฉืจืื™ืชื™, ืฉื–ื” ืœื ื—ื™ื™ื‘ ืœื”ื™ื•ืช ื›ื›ื”.
11:36
I went to Maine, the whitest state in the nation,
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ื”ืœื›ืชื™ ืœืžื™ื™ืŸ, ื”ืžื“ื™ื ื” ื”ืœื‘ื ื” ื‘ื™ื•ืชืจ ื‘ืืจื”"ื‘,
11:39
the oldest,
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ื”ื–ืงื ื” ื‘ื™ื•ืชืจ,
11:41
where there are more deaths every year than births,
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ืฉื™ืฉ ื‘ื” ื™ื•ืชืจ ืžืงืจื™ื™ ืžื•ื•ืช ื‘ืฉื ื” ืžืœื™ื“ื•ืช,
11:43
and I went to this dying mill town called Lewiston
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ื•ื”ืœื›ืชื™ ืœืขื™ื™ืจื” ื”ืงื˜ื ื” ื•ื”ืžืชื” ื”ื–ืืช ื‘ืฉื ืœื•ืื™ืกื˜ื•ืŸ
11:48
that is being revitalized by new people --
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ืฉืงืžื” ืœืชื—ื™ื™ื” ืขืœ ื™ื“ื™ ืื ืฉื™ื ื—ื“ืฉื™ื --
11:51
mostly African, mostly Muslim,
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ื‘ืขื™ืงืจ ืืคืจื™ืงื ื™ื, ืžื•ืกืœืžื™ื ื‘ืจื•ื‘ื,
11:54
immigrants and refugees.
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ืžื”ื’ืจื™ื ื•ืคืœื™ื˜ื™ื.
11:56
There, I met a woman named Cecile,
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ืฉื, ืคื’ืฉืชื™ ืื™ืฉื” ื‘ืฉื ืกืกื™ืœ
11:58
whose parents had been part of the last wave of new people
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ืฉื”ื•ืจื™ื” ื”ื’ื™ืขื• ื‘ื’ืœ ื”ืื—ืจื•ืŸ ืฉืœ ื”ืื ืฉื™ื ื”ื—ื“ืฉื™ื
12:02
to come to Lewiston.
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ืฉื”ื’ื™ืขื• ืœืœื•ืื™ืกื˜ื•ืŸ.
12:03
These are French-Canadian millworkers at the turn of the century.
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ื’ืœ ืฉืœ ืขื•ื‘ื“ื™ ื‘ืชื™ ื—ืจื•ืฉืช ืฆืจืคืชื™ื-ืงื ื“ื™ื ืฉื”ื’ื™ืขื• ื‘ืชื—ื™ืœืช ื”ืžืื”.
12:08
Cecile is retired, but she had found a new purpose in life,
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ืกืกื™ืœ ื”ื™ื ื’ืžืœืื™ืช, ืื‘ืœ ื”ื™ื ืžืฆืื” ืžืฉืžืขื•ืช ื—ื“ืฉื” ื‘ื—ื™ื™ื”,
12:11
by organizing Congolese refugees
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ืขืœ ื™ื“ื™ ืืจื’ื•ืŸ ืคืœื™ื˜ื™ื ืžืงื•ื ื’ื•
12:15
to join with the white retirees at the Franco Heritage Center.
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ืœื”ืฆื˜ืจืฃ ืœืœื‘ื ื™ื ื”ื’ื™ืžืœืื™ื ืœืžืคื’ืฉื™ื ืฉืœื”ื ื‘ืžืจื›ื– ื”ืžื•ืจืฉืช ืคืจื ืงื•.
12:19
(Laughter)
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(ืฆื—ื•ืง)
12:21
These men and women from the Congo
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ื”ื‘ื ื™ื ื•ื”ื‘ื ื•ืช ืžืงื•ื ื’ื•
12:24
were helping these retirees remember the French
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ืขื–ืจื• ืœื’ืžืœืื™ื ืœื”ื–ื›ืจ ื‘ืฉืคื” ื”ืฆืจืคืชื™ืช
12:27
that they hadn't spoken since their childhoods.
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ืฉืœื ื“ื™ื‘ืจื• ืžืื– ื™ืžื™ ื™ืœื“ื•ืชื.
12:31
And together, these two communities helped each other feel at home.
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ื•ื‘ื™ื—ื“, ืฉืชื™ ื”ืงื”ื™ืœื•ืช ืขื–ืจื• ืื—ืช ืœืฉื ื™ื” ืœื”ืจื’ื™ืฉ ื‘ื‘ื™ืช.
12:37
You know, for all the political talk
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ืืชื ื™ื•ื“ืขื™ื, ืขื ื›ืœ ื”ื“ื™ื‘ื•ืจื™ื ื”ืคื•ืœื™ื˜ื™ื™ื
12:39
about the newcomers being a drain on the town,
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ืื•ื“ื•ืช ื”ืคืœื™ื˜ื™ื ืฉืžื”ื•ื•ื™ื ื ื˜ืœ ืขืœ ื”ืขื™ื™ืจื”,
12:42
a bipartisan think tank found that the local refugee community there
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ืฆื•ื•ืช ื—ืฉื™ื‘ื” ืžืฉื•ืชืฃ ืžืฆื ืฉืงื”ื™ืœืช ื”ืคืœื™ื˜ื™ื ืฉื
12:48
created 40 million dollars in tax revenue,
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ื™ื™ืฆืจื” 40 ืžื™ืœื™ื•ืŸ ื“ื•ืœืจ ื‘ื”ื›ื ืกื•ืช ืžืžืก,
12:50
and 130 million in income.
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ื•130 ืžื™ืœื™ื•ืŸ ื‘ื”ื›ื ืกื•ืช ืื™ืฉื™ื•ืช.
12:53
And I talked to the town administrator,
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ื•ื“ื™ื‘ืจืชื™ ืขื ืจืืฉ ื”ืขื™ืจ,
12:55
who was boasting about the fact that Lewiston was building a new school,
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ืฉื”ืชืจื‘ืจื‘ ืขืœ ื”ืขื•ื‘ื“ื” ืฉืœื•ืื™ืกื˜ื•ืŸ ืžืงื™ืžื™ื ื‘ื™ืช ืกืคืจ ื—ื“ืฉ,
12:58
when all the rest of towns like theirs in Maine
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ื›ืฉื›ืœ ืฉืืจ ื”ืขื™ื™ืจื•ืช ื‘ืกื“ืจ ื’ื•ื“ืœ ืฉืœื”ื ื‘ืžื™ื™ืŸ
13:01
was closing them.
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ืกื•ื’ืจื•ืช ืื•ืชื.
13:03
You know, it costs us so much to remain divided.
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ืืชื ื™ื•ื“ืขื™ื, ื–ื” ืขื•ืœื” ื›ืœ ื›ืš ื”ืจื‘ื” ืœื”ืฉืืจ ืžื—ื•ืœืงื™ื.
13:08
This zero-sum thinking,
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ื—ืฉื™ื‘ืช 'ืกื›ื•ื ืืคืก' ื”ื–ื•,
13:10
that's what's good for one group has to come at the expense of another,
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ืฉืžื” ืฉื˜ื•ื‘ ืœืงื‘ื•ืฆื” ืื—ืช ื—ื™ื™ื‘ ืœื‘ื•ื ืขืœ ื—ืฉื‘ื•ืŸ ื”ืื—ืจ,
13:13
it's what's gotten us into this mess.
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ื–ื” ืžื” ืฉื”ื•ื‘ื™ืœ ืื•ืชื ื• ืœื‘ืœืื’ืŸ ื”ื–ื”.
13:15
I believe it's time to reject that old paradigm
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ืื ื™ ืžืืžื™ื ื” ืฉื–ื” ื”ื–ืžืŸ ืœื“ื—ื•ืช ืืช ื”ืชืคื™ืกื” ื”ื–ืืช
13:19
and realize that our fates are linked.
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ื•ืœื”ื‘ื™ืŸ ืฉื”ืขืชื™ื“ ืฉืœื ื• ืžืฉื•ืชืฃ.
13:23
An injury to one is an injury to all.
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ืคื’ื™ืขื” ื‘ืื—ื“ ื”ื™ื ืคื’ื™ืขื” ื‘ื›ื•ืœื ื•.
13:30
You know, we have a choice.
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ืืชื ื™ื•ื“ืขื™ื, ื™ืฉ ืœื ื• ื‘ื—ื™ืจื”.
13:32
Our nation was founded on a belief in a hierarchy of human value.
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ื”ืื•ืžื” ืฉืœื ื• ื™ื•ืกื“ื” ืขืœ ื”ืืžื•ื ื” ื‘ื”ื™ืจืจื›ื™ื” ืฉืœ ืขืจื›ื™ื ืื ื•ืฉื™ื™ื.
13:39
But we are about to be a country with no racial majority.
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ืื‘ืœ ืื ื—ื ื• ืขื•ืžื“ื™ื ืœื”ื™ื•ืช ืžื“ื™ื ื” ื‘ืœื™ ืจื•ื‘ ื’ื–ืขื™.
13:44
So we can keep pretending like we're not all on the same team.
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ืื– ืื ื—ื ื• ื™ื›ื•ืœื™ื ืœื”ืžืฉื™ืš ืœื”ืขืžื™ื“ ืคื ื™ื ื›ืื™ืœื• ืื ื—ื ื• ืœื ื‘ืื•ืชื” ื”ืงื‘ื•ืฆื”.
13:49
We can keep sabotaging our success
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ืื ื—ื ื• ื™ื›ื•ืœื™ื ืœื—ื‘ืœ ื‘ื”ืฆืœื—ื” ืฉืœื ื•
13:51
and hamstringing our own players.
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ื•ืœื”ื–ื™ืง ืœืฉื—ืงื ื™ื ืฉืœ ื”ืงื‘ื•ืฆื” ืฉืœื ื•.
13:54
Or we can let the proximity of so much difference
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ืื•, ืฉื‘ื™ื›ื•ืœืชื ื• ืœืืคืฉืจ ืœืฉื•ื ื™
13:59
reveal our common humanity.
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ืœื’ืœื•ืช ืืช ื”ืื ื•ืฉื™ื•ืช ื”ืžื•ืฉืชืคืช ืฉืœื ื•.
14:02
And we can finally invest in our greatest asset.
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ื•ื ื•ื›ืœ ืกื•ืคืกื•ืฃ ืœื”ืฉืงื™ืข ื‘ืžืฉืื‘ ื”ื™ืงืจ ืฉืœื ื•.
14:07
Our people.
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ืื ื—ื ื•. ื”ืื ืฉื™ื.
14:09
All of our people.
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ื›ืœ ื”ืื ืฉื™ื.
14:13
Thank you.
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ืชื•ื“ื”.
14:14
(Applause)
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(ืžื—ื™ืื•ืช ื›ืคื™ื™ื)
ืขืœ ืืชืจ ื–ื”

ืืชืจ ื–ื” ื™ืฆื™ื’ ื‘ืคื ื™ื›ื ืกืจื˜ื•ื ื™ YouTube ื”ืžื•ืขื™ืœื™ื ืœืœื™ืžื•ื“ ืื ื’ืœื™ืช. ืชื•ื›ืœื• ืœืจืื•ืช ืฉื™ืขื•ืจื™ ืื ื’ืœื™ืช ื”ืžื•ืขื‘ืจื™ื ืขืœ ื™ื“ื™ ืžื•ืจื™ื ืžื”ืฉื•ืจื” ื”ืจืืฉื•ื ื” ืžืจื—ื‘ื™ ื”ืขื•ืœื. ืœื—ืฅ ืคืขืžื™ื™ื ืขืœ ื”ื›ืชื•ื‘ื™ื•ืช ื‘ืื ื’ืœื™ืช ื”ืžื•ืฆื’ื•ืช ื‘ื›ืœ ื“ืฃ ื•ื™ื“ืื• ื›ื“ื™ ืœื”ืคืขื™ืœ ืืช ื”ืกืจื˜ื•ืŸ ืžืฉื. ื”ื›ืชื•ื‘ื™ื•ืช ื’ื•ืœืœื•ืช ื‘ืกื ื›ืจื•ืŸ ืขื ื”ืคืขืœืช ื”ื•ื•ื™ื“ืื•. ืื ื™ืฉ ืœืš ื”ืขืจื•ืช ืื• ื‘ืงืฉื•ืช, ืื ื ืฆื•ืจ ืื™ืชื ื• ืงืฉืจ ื‘ืืžืฆืขื•ืช ื˜ื•ืคืก ื™ืฆื™ืจืช ืงืฉืจ ื–ื”.

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