Why #BankBlack Is Betraying The Black Freedom Struggle

[David_TheMan]

I don't trust any banking connected to the Fed

 

[Poitier]

I just wanna know one thing. Are the banks loaning money to qualified applicants or not? Are the black owned banks loaning money to qualified black people or not? If I'm a black man with my finances in order enough to get a loan on an apt building is a black bank gonna loan or not.

Anyone with any real money in a Black bank would find this concerning:

OneBank United’s CEO, Kevin Cohee, on the other hand, lived in a six-million-dollar oceanfront mansion, unlawfully paid for through a corporate expense account, where he cheated on his wife and was arrested for drug possession and sexual assault. He’s still the CEO. Perhaps the heavy campaign contributions that Cohee and other OneBank executives paid to fellow shareholder Maxine Waters finally paid dividends when the Congresswoman unethically organized their TARP bailout package while neglecting to disclose that she and her husband were major shareholders (i.e. profiteers). Black Wall Street and their politicians play the same crooked games as white Wall Street and their politicians, just with a few less zeros in the ledger book.

It would make more sense to just promote establishing credits unions if that's the goal.

Any promotion of credit union vs bank would include a criticism of banking as the intended purpose of a credit union is to address the shortcomings of banking.

 

[Apollo Creed]

For the ATL Brehs.
Credit Union of Atlanta - Atlanta, GA - Board of Directors

Unrelated I did find this though
New Details On Why The Atlanta Credit Union CEO Was Shot Dead Last Week
.

What are the Odds of a credit union shutting down?

EDIT. The new CEO is a White Guy it looks like, but this is still considered a "Black Credit Union".

I`m going to do more research on them before deciding if I will close my citizens account and move to them.

 

[KOohbt]

Anyone with any real money in a Black bank would find this concerning:




Any promotion of credit union vs bank would include a criticism of banking as the intended purpose of a credit union is to address the shortcomings of banking.

What is real money? 250k+?

 

[Poitier]

What is real money? 250k+?

Anything that would threaten your standard of living if it disappeared due to bank mismanagement and there was no bail-out. Varies person to person.

 

[Paper Boi]

i've been using a credit union since i was 14. it's not black owned, but i find it way more trustworthy than a big bank and it has much better customer service. interest rates not bad either.


the article seems to raise legit points, but i'll admit i'm really not an expert on these things.

 

[Red Shield]

listen to cacs they say black banks bad they say

 

[Poitier]

i've been using a credit union since i was 14. it's not black owned, but i find it way more trustworthy than a big bank and it has much better customer service. interest rates not bad either..

thought this was cool

More accurately, however, credit unions are not owned by anyone. There are no shareholders. Everyone (no matter how much money they have on deposit) gets one vote on how the credit union is run. Any operational profit beyond covering overhead, emergency reserves, and the other costs of doing business can be redistributed to members in the form of lower interest rates on loans, higher interest rates on deposits, or member-decided-upon charitable causes.

 

[J-Nice]

The article made some valid points in terms of black banks being an extension of exploitative capitalism and how CEO's of these banks could turn their institutions into not-for profit credit unions and use those assets to develop the community while sharing the profits with everyone. BUT where the article falls short for me is misinterpreting black nationalist principles as a one size fits all ideology that exploits black poor and black working class people. If the author would have done his homework, then he would have seen that an ideology like Black Nationalism has it's roots in working class and poor black communities. And not only that, but many people have had differing opinions on the subject as well. He really shows his ignorance here. In addition to that, he spends too much time attacking the character and deeds of execs and exalting Cornel West as some anti-establishment figure. Let's be clear, Cornel West has made his living working within the establishment. There's more, but I don't want to make this post too long.

I suggest people research the CDFIF ( Community Development Financial Institutions Fund)https://www.cdfifund.gov/Pages/default.aspx
Home
https://www.cdfifund.gov/Pages/default.aspx

 

[Isaiah Bradley]

Review the responses and common devilish tactics from so-called pro-black folks when I asked similar questions as article
http://www.thecoli.com/threads/afte...ks-and-merchants-held-accountable-for.450330/

Claim to wanna fight white supremacy, but use the same tactics of lies, racial deflection, and stereotype to any black person asking questions for more detail about banking and buying black brehs

 

[Isaiah Bradley]

The article made some valid points in terms of black banks being an extension of exploitative capitalism and how CEO's of these banks could turn their institutions into not-for profit credit unions and use those assets to develop the community while sharing the profits with everyone. BUT where the article falls short for me is misinterpreting black nationalist principles as a one size fits all ideology that exploits black poor and black working class people. If the author would have done his homework, then he would have seen that an ideology like Black Nationalism has it's roots in working class and poor black communities. And not only that, but many people have had differing opinions on the subject as well. He really shows his ignorance here. In addition to that, he spends too much time attacking the character and deeds of execs and exalting Cornel West as some anti-establishment figure. Let's be clear, Cornel West has made his living working within the establishment. There's more, but I don't want to make this post too long.

I suggest people research the CDFIF ( Community Development Financial Institutions Fund)
Home

Black nationalism has always been a means to get payed by many black folks willing to hustle on the hopes and dreams of other black folks trying to defeat white supremacy. So the author focusing on that angle is not a problem to me cause if you don't have safe guards or some forms of accountability for black banks/merchants, then it will be another case of exploitation of the black poor and black working class people

 

[J-Nice]

Black nationalism has always been a means to get payed by many black folks willing to hustle on the hopes and dreams of other black folks trying to defeat white supremacy. So the author focusing on that angle is not a problem to me cause if you don't have safe guards or some forms of accountability for black banks/merchants, then it will be another case of exploitation of the black poor and black working class people

That isn't true at all. The ideology and it's principles have their roots in black poor and black working class communities. And they even extend to the diaspora in a greater sense. Throughout our time in America Black poor and working class people have always used forms of black nationalism and cooperative economics to build and maintain communities (Tulsa OK is the greatest example of that among others). The author is trying to tie black captialists who exploit to black nationalism and there isn't a connection so the comparison is null and void. It was poor in my opinion.

 

[Isaiah Bradley]

That isn't true at all. The ideology and it's principles have their roots in black poor and black working class communities. And they even extend to the diaspora in a greater sense. Throughout our time in America Black poor and working class people have always used forms of black nationalism and cooperative economics to build and maintain communities (Tulsa OK is the greatest example of that among others). The author is trying to tie black captialists who exploit to black nationalism and there isn't a connection so the comparison is null and void. It was poor in my opinion.

I'm not questioning Black nationalism's roots and genuine goals, I talmbowt tools used to exploit others for personal gains
Just a simple google of the term "Black empowerment" will list many books, investment clubs, blogs, and conferences that are not for free, claiming to have the secret and the best structure to mimic the success of Tulsa

All I'm saying is unless there're measures in place to prevent exploitation, Black nationalism, just like religion, politics, fear, and ignorance is another tool used by self serving black folks to exploit other black folks

 

[Nomadum]

Said T.I. and Solange support it, yea? How much support? like all their life savings and liquid money type support or a put $1,000 dollars into it just to say they did it, type support?

fukk mentioning Killer Mike, T.I. and Solange mean if they not pumping these banks full of their paper? lmao whatever