Economist mocks GOP for trying to pin racism on Democrats -- after telling a harrowing story about anti-black economic envy
Economist Julianne Malveaux discusses reparations (Screen cap).

Economist Julianne Malveaux explained to the House Judiciary Committee on Wednesday that there was a time in the United States where black Americans were actually closing the wealth gap with white Americans -- until white Americans rioted and burned their property.

During her testimony at a hearing on reparations, Malveaux recounted the horrific story of the destruction of "Black Wall Street," which was a location in Tulsa, Oklahoma that was known for its high concentration of black-owned businesses and black wealth.

The area's prosperity came to an end in 1921 when white Tulsa residents used baseless accusation of a black man sexually assaulting a white woman as a justification to chase out all black residents and set fire to their neighborhoods. Hundreds of black residents were killed in the riots and the majority fled the city.

"The governor of Oklahoma actually appointed a commission to find out why the Wall Street massacre occurred, one of the newspapers came up with this conclusion: 'Too many n-words have too much money,'" she said. "That was the conclusion of an official government commission."

She then addressed a conservative at the hearing who claimed that incidents such as the Black Wall Street massacre were due solely to the Democratic Party.

"People change their ideologies," she said. "The Democrats were the devil once upon a time -- there was a group called the red shirts, which were the Klan. They were Democrats! However, the Republicans took that over -- they became the devil."

Watch the video below.