One bank that is black-owned create the townвЂ™s African-American middle class вЂ” before the hurricane damaged far more than their houses.
вЂB band a map of the latest Orleans.вЂ™вЂ™ That has been all that Alden J. McDonald Jr., president and executive that is chief of Bank and Trust team, said whenever I first asked to satisfy him. It absolutely was the summertime of 2005, significantly less than a couple of weeks following the cityвЂ™s flood-protection system neglected to keep the storm surge out developed by Hurricane Katrina, and I also ended up being reporting in Louisiana with this paper. The gulf coast of florida is sitting when you look at the lobby of their brand new Orleans headquarters. The flooding have damaged LibertyвЂ™s mainframe computers; a many that is good of bankвЂ™s more essential papers вЂ” deeds for homes, titles for automobiles вЂ” had been ruined aswell. Six of LibertyвЂ™s eight branches are inundated and a 7th have been battered by looters. Continue reading →