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Resource ID: #824
Subject: Banks
Source: Clarion-Ledger (Jackson, Miss.)
Date: 1980-04-30



Clarion-Ledger publishes series on the fall of fidelity bank. At first blamed on the bank's black investors, the Ledger soon found that the bank's white president actually led to the institutions demise. The president cajoled blacks into the investing in the bank, knowing that it was in serious trouble and that they would be blamed for its failure, covering up his own mismanagement and self-dealings.

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