The Issue with the Bank Black Movement

[zzombie]

A clear example would be lower interest rates on loans, or the aforementioned increased likelihood of helping a small business but this dumb fuck just ranting he missing the point.

And I do this to everyone. I don't give fuck if you run a nonprofit, a church, a school whatever if you asking me for money or expect me to break bread that shit comes with expectations and understandings, both depending on the nature of our business.

If I donated to the building fund there better be a fucking building coming.

If i donate to an organization that takes in abused children you better be licensed and takind care of these babies.

If i want to buy a pair of shoes they better be good quality shoes.

Its not unusual to ask for assurances when you breaking bread. Only stupid niggas throw money down a well. That's why niggas broke now.

It should take little effort to find personal benefit in doing business.

If it doesn't benefit me more than doing business elsewhere then whats the point?! Why should I be more interested in enriching one CEO over another one? Why should I give a fuck? They're the same.

Thank you fiddler from roots for enlightening us on your bullshit

asking someone to open a bank account is not like asking them to donate to a church... a bank is not a moral institution it is a useful institution anyway i am not even going to fucking bother with STEPHEN anymore he is a lost cause

 

[zzombie]

Any black person that is against this idea is not down for the black race. This idea amounts to nothing more than asking you to save 500$ of your own money with black people, Is that really too much to ask??? No one is saying that you have to put all your money in a black bank that would be fucking stupid and kind of impractical

Niggas got the game bent and having a negative attitude about it. So, yes, it's too much to ask.

Only for coons or dudes so broke they cannot afford the 500

 

[ReppinTime]

Of course this thread would be started by a nigga who refers to himself in 3rd person on the Internet.

And yes if the community doesn't support or they can't get enough money from the high roller clients and they can't afford to operate... like any bank they will start foreclosures and shit...it's a last ditch effort to hold off the fed. The one in Houston tho should be in much better position after all the new business.

I know for a fact one of the major ones in Chicago is on its last legs and unless some major move like the one in Houston comes soon they'll be out of here and within a year most likely.

 

[Swiffness!]

I have always thought jono was a fucking coon... the movement to revitalize black banks just started and this nigga is already kicking dirt on the idea. A small local bank is much more likely to provide better service to a small local entrepreneur than a big banks

hes that guy who thinks hes really smart and has to have the opposite opinion

peace to my fellow contrarians lol

 

[NeighborhoodNomad.]

@jono

Opening a bank account is not the same as making a donation. But still, it's deeper than just opening an account. The Black community is FILLED with entrepreneurs that will most likely be getting approved for loans for businesses, homes, cars, etc. who weren't able to get one at the White banks. These are things that wealth (in a capitalist society) is built upon. Black owned banks that focus on the community are institutions that are designed to help generate and build wealth in the Black Community.

You have given several "what if's" as to why you won't, but haven't provided any alternative solution.

Do you care about the Black Community as a whole? Do you care about Your race and Our plight? Do you care about the generations after you?

 

[jono]

@jono

Opening a bank account is not the same as making a donation. But still, it's deeper than just opening an account. The Black community is FILLED with entrepreneurs that will most likely be getting approved for loans for businesses, homes, cars, etc. who weren't able to get one at the White banks. These are things that wealth (in a capitalist society) is built upon. Black owned banks that focus on the community are institutions that are designed to help generate and build wealth in the Black Community.

You have given several "what if's" as to why you won't, but haven't provided any alternative solution.

Do you care about the Black Community as a whole? Do you care about Your race and Our plight? Do you care about the generations after you?

What does any of that have to do with me helping one (or several) already successful people? If dude owns a bank he does alright financially, if he's a high ranking officer he's still doing fine. If his bank is private we have no control over anything and can't demand accountability.

You want to generate black wealth? Teach kids financial literacy and critical thinking. You don't shun critical thinking, you encourage questioning and build understanding so they can learn how to do it themselves.

You don't allow one person or a small section of them to horde money with no guarantees. Which is why I continually ask what accountability is in place, what standards, what are the expectations?

I asked very important questions to which I got no specific answer. Me putting my money in a black bank does wonders for the man that owns the bank but what about everyone else? Its easy to throw around generalized phrases like "it'll benefit the community" or "do for self" but HOW?

"Oh he can give loans to entrepreneurs" you cannot say this for a certainty nor can you say the interest rate would be reasonable.

You want to benefit the community put that money into a program or organization that pushes forward financial literacy and encourages critical thinking. You don't dump that money into a wishing well without asking basic ass questions about what the organization stands for and what is its mission.

A private bank, no matter who owns it, has the purpose of enriching the people who own it. Thats the opposite of what's being yelled at me, which is "community community community" You HOPE it benefits the community i know for a FACT at least the people who own it will be enriched.

 

[zzombie]

@jono

Opening a bank account is not the same as making a donation. But still, it's deeper than just opening an account. The Black community is FILLED with entrepreneurs that will most likely be getting approved for loans for businesses, homes, cars, etc. who weren't able to get one at the White banks. These are things that wealth (in a capitalist society) is built upon. Black owned banks that focus on the community are institutions that are designed to help generate and build wealth in the Black Community.

You have given several "what if's" as to why you won't, but haven't provided any alternative solution.

Do you care about the Black Community as a whole? Do you care about Your race and Our plight? Do you care about the generations after you?

What does any of that have to do with me helping one (or several) already successful people? If dude owns a bank he does alright financially, if he's a high ranking officer he's still doing fine. If his bank is private we have no control over anything and can't demand accountability.

You want to generate black wealth? Teach kids financial literacy and critical thinking. You don't shun critical thinking, you encourage questioning and build understanding so they can learn how to do it themselves.

You don't allow one person or a small section of them to horde money with no guarantees. Which is why I continually ask what accountability is in place, what standards, what are the expectations?

I asked very important questions to which I got no specific answer. Me putting my money in a black bank does wonders for the man that owns the bank but what about everyone else? Its easy to throw around generalized phrases like "it'll benefit the community" or "do for self" but HOW?

"Oh he can give loans to entrepreneurs" you cannot say this for a certainty nor can you say the interest rate would be reasonable.

You want to benefit the community put that money into a program or organization that pushes forward financial literacy and encourages critical thinking. You don't dump that money into a wishing well without asking basic ass questions about what the organization stands for and what is its mission.

A private bank, no matter who owns it, has the purpose of enriching the people who own it. Thats the opposite of what's being yelled at me, which is "community community community" You HOPE it benefits the community i know for a FACT at least the people who own it will be enriched.

oh god it just gets worse and worse and fucking worse... critical thinking is not going to get you capital to start your fucking enterprise you idiot. The accountability that black owned banks owe their customers is spelled out when you sign up just like any other bank. You are operating under the wrong assumptions and that's why you keep asking these juvenile questions. There are BLACK BANKS so no one person or group will be getting all the black dollars

black banks will help the black community, that may not be the focal point of the people who run the bank but never the less that is the end result. In selfishly seeking a benefit for yourself you produce a benefit for others that is the essence of capitalism. How will you putting your cash in black banks benefit others??? the same way putting your money in white banks benefits others. Except that these black banks will target black folks more than the mainstream banks which means that if they can do well then so can the people who they loan money to

A bank is not a fucking wishing well that is a horrible comparison, if part of a banks operation is loaning money to entrepreneurs then that is what they are going to do when they are presented with good business plans.

 

[all original]

Of course this thread would be started by a nigga who refers to himself in 3rd person on the Internet.

And yes if the community doesn't support or they can't get enough money from the high roller clients and they can't afford to operate... like any bank they will start foreclosures and shit...it's a last ditch effort to hold off the fed. The one in Houston tho should be in much better position after all the new business.

I know for a fact one of the major ones in Chicago is on its last legs and unless some major move like the one in Houston comes soon they'll be out of here and within a year most likely.

@ReppinTime...this the one you talmbout
http://atlantablackstar.com/2016/06...ns-and-african-americans-to-help-one-another/

 

[zzombie]

There are black people with great ideas good credit and all that is needed to start a business that has a chance to survive and maybe see a profit someday..... but not of it matters because they don't have the capital and no amount of critical thinking skills or asking questions is going to give it to them.

They need access to money... fuck waiting. Teaching the next generation financial literacy but leaving them broke because you were too weak or stupid to attain the wealth necessary to make them competitive is foolishness. we have to do this shit now or in the next 30 years it will be our kids still struggling with the same issues we struggle with now

 

[desertrain10]

@jono

Opening a bank account is not the same as making a donation. But still, it's deeper than just opening an account. The Black community is FILLED with entrepreneurs that will most likely be getting approved for loans for businesses, homes, cars, etc. who weren't able to get one at the White banks. These are things that wealth (in a capitalist society) is built upon. Black owned banks that focus on the community are institutions that are designed to help generate and build wealth in the Black Community.

You have given several "what if's" as to why you won't, but haven't provided any alternative solution.

Do you care about the Black Community as a whole? Do you care about Your race and Our plight? Do you care about the generations after you?

What does any of that have to do with me helping one (or several) already successful people? If dude owns a bank he does alright financially, if he's a high ranking officer he's still doing fine. If his bank is private we have no control over anything and can't demand accountability.

You want to generate black wealth? Teach kids financial literacy and critical thinking. You don't shun critical thinking, you encourage questioning and build understanding so they can learn how to do it themselves.

You don't allow one person or a small section of them to horde money with no guarantees. Which is why I continually ask what accountability is in place, what standards, what are the expectations?

I asked very important questions to which I got no specific answer. Me putting my money in a black bank does wonders for the man that owns the bank but what about everyone else? Its easy to throw around generalized phrases like "it'll benefit the community" or "do for self" but HOW?

"Oh he can give loans to entrepreneurs" you cannot say this for a certainty nor can you say the interest rate would be reasonable.

You want to benefit the community put that money into a program or organization that pushes forward financial literacy and encourages critical thinking. You don't dump that money into a wishing well without asking basic ass questions about what the organization stands for and what is its mission.

A private bank, no matter who owns it, has the purpose of enriching the people who own it. Thats the opposite of what's being yelled at me, which is "community community community" You HOPE it benefits the community i know for a FACT at least the people who own it will be enriched.

As already explained

Ideally as assets grow for the bank, it enables them to lend more money to small businesses, potential homeowners and others in the area who will then reinvest that cash back into the community, cyclically compounding blk wealth...considering blk banks tend to set up shop in predominantly blk communties

A win-win, for the bank and its patrons

There is no guarantees in life, but there is no evidence that these banks will turn away blk patrons looking to buy a home or start a business. If the applicants are low risk and or have a viable business plan it would actually be counterproductive. Many blk banks are hurting for clients...whereas BoA, Wells Fargo and other larger institutions who don't have to depend on the blk dollar have a long, history of discriminating against ppl of color

Supporting programs and organizations that encourage financial literacy is important, but this movement could potentially do a lot of good as well

This concept is all that not far different from infusing more of our police departments with blk faces

 

[jono]

@jono

Opening a bank account is not the same as making a donation. But still, it's deeper than just opening an account. The Black community is FILLED with entrepreneurs that will most likely be getting approved for loans for businesses, homes, cars, etc. who weren't able to get one at the White banks. These are things that wealth (in a capitalist society) is built upon. Black owned banks that focus on the community are institutions that are designed to help generate and build wealth in the Black Community.

You have given several "what if's" as to why you won't, but haven't provided any alternative solution.

Do you care about the Black Community as a whole? Do you care about Your race and Our plight? Do you care about the generations after you?

What does any of that have to do with me helping one (or several) already successful people? If dude owns a bank he does alright financially, if he's a high ranking officer he's still doing fine. If his bank is private we have no control over anything and can't demand accountability.

You want to generate black wealth? Teach kids financial literacy and critical thinking. You don't shun critical thinking, you encourage questioning and build understanding so they can learn how to do it themselves.

You don't allow one person or a small section of them to horde money with no guarantees. Which is why I continually ask what accountability is in place, what standards, what are the expectations?

I asked very important questions to which I got no specific answer. Me putting my money in a black bank does wonders for the man that owns the bank but what about everyone else? Its easy to throw around generalized phrases like "it'll benefit the community" or "do for self" but HOW?

"Oh he can give loans to entrepreneurs" you cannot say this for a certainty nor can you say the interest rate would be reasonable.

You want to benefit the community put that money into a program or organization that pushes forward financial literacy and encourages critical thinking. You don't dump that money into a wishing well without asking basic ass questions about what the organization stands for and what is its mission.

A private bank, no matter who owns it, has the purpose of enriching the people who own it. Thats the opposite of what's being yelled at me, which is "community community community" You HOPE it benefits the community i know for a FACT at least the people who own it will be enriched.

oh god it just gets worse and worse and fucking worse... critical thinking is not going to get you capital to start your fucking enterprise you idiot. The accountability that black owned banks owe their customers is spelled out when you sign up just like any other bank. You are operating under the wrong assumptions and that's why you keep asking these juvenile questions. There are BLACK BANKS so no one person or group will be getting all the black dollars[/b]

Its a bank owned by black people. They have no allegiance to you and aren't accountable to you. They choose to do business with whomever they want to but the consumer should be denied that choice?

You can't get any one fired. All you can do is remove your money. Its a BoA in black face.

black banks will help the black community, that may not be the focal point of the people who run the bank but never the less that is the end result. In selfishly seeking a benefit for yourself you produce a benefit for others that is the essence of capitalism. How will you putting your cash in black banks benefit others??? the same way putting your money in white banks benefits others. Except that these black banks will target black folks more than the mainstream banks which means that if they can do well then so can the people who they loan money to

Then find an institution that focuses on the community and not self enrichment. Its literally that simple.

And we already know that"rising tides" is bullshit reaganomics. Detroit is proof. As First Independence Bank, a black owned bank, continued to grow the community got WORSE and WORSE. They care about themselves FIRST what the fuck is wrong demanding to be YOURSELF FIRST?

A bank is not a fucking wishing well that is a horrible comparison, if part of a banks operation is loaning money to entrepreneurs then that is what they are going to do when they are presented with good business plans.

It isn't a wishing well per se but you wish something good comes from you investment but as I already mentioned it doesn't happen. You HOPE and PRAY but at the end of the day its you or them and they choose themselves first. Fuck you I choose ME FIRST.

 

[jono]

@jono

Opening a bank account is not the same as making a donation. But still, it's deeper than just opening an account. The Black community is FILLED with entrepreneurs that will most likely be getting approved for loans for businesses, homes, cars, etc. who weren't able to get one at the White banks. These are things that wealth (in a capitalist society) is built upon. Black owned banks that focus on the community are institutions that are designed to help generate and build wealth in the Black Community.

You have given several "what if's" as to why you won't, but haven't provided any alternative solution.

Do you care about the Black Community as a whole? Do you care about Your race and Our plight? Do you care about the generations after you?

What does any of that have to do with me helping one (or several) already successful people? If dude owns a bank he does alright financially, if he's a high ranking officer he's still doing fine. If his bank is private we have no control over anything and can't demand accountability.

You want to generate black wealth? Teach kids financial literacy and critical thinking. You don't shun critical thinking, you encourage questioning and build understanding so they can learn how to do it themselves.

You don't allow one person or a small section of them to horde money with no guarantees. Which is why I continually ask what accountability is in place, what standards, what are the expectations?

I asked very important questions to which I got no specific answer. Me putting my money in a black bank does wonders for the man that owns the bank but what about everyone else? Its easy to throw around generalized phrases like "it'll benefit the community" or "do for self" but HOW?

"Oh he can give loans to entrepreneurs" you cannot say this for a certainty nor can you say the interest rate would be reasonable.

You want to benefit the community put that money into a program or organization that pushes forward financial literacy and encourages critical thinking. You don't dump that money into a wishing well without asking basic ass questions about what the organization stands for and what is its mission.

A private bank, no matter who owns it, has the purpose of enriching the people who own it. Thats the opposite of what's being yelled at me, which is "community community community" You HOPE it benefits the community i know for a FACT at least the people who own it will be enriched.

As already explained

Ideally as assets grow for the bank, it enables them to lend more money to small businesses, potential homeowners and others in the area who will then reinvest that cash back into the community, cyclically compounding blk wealth...considering blk banks tend to set up shop in predominantly blk communties

A win-win, for the bank and its patrons

There is no guarantees in life, but there is no evidence that these banks will turn away blk patrons looking to buy a home or start a business. If the applicants are low risk and or have a viable business plan it would actually be counterproductive. Many blk banks are hurting for clients...whereas BoA, Wells Fargo and other larger institutions who don't have to depend on the blk dollar have a long, history of discriminating against ppl of color

Supporting programs and organizations that encourage financial literacy is important, but this movement could potentially do a lot of good as well

This concept is all that not far different from infusing more of our police departments with blk faces

Idealism vs Reality.

A bank will lend to anyone it doesn't matter who owns the bank or what race the person is. A consumer should be able to put their money wherever they want. There is no guarantee that money is going back into the community.

Its in your best interest to get the best deal you can period. Whether thats black owned or French owned who gives a damn?

Black people shouldn't be under any obligation to hold up failing business due to idealistic symbolism and misplaced pride. These banks are not that much different than any other one, they are looking out for themselves so a consumer needs to look out for themselves just as much.

 

[a_wack_poster]

This thread needs Dr. Claude Anderson...

 

[jono]

There are black people with great ideas good credit and all that is needed to start a business that has a chance to survive and maybe see a profit someday..... but not of it matters because they don't have the capital and no amount of critical thinking skills or asking questions is going to give it to them.

They need access to money... fuck waiting. Teaching the next generation financial literacy but leaving them broke because you were too weak or stupid to attain the wealth necessary to make them competitive is foolishness. we have to do this shit now or in the next 30 years it will be our kids still struggling with the same issues we struggle with now

1. That's a lie. As a businessman i need to be able to put together an intelligent and workable business plan. Again i can't walk into anyone's bank and expect my blackness to get me a loan.

2. In searching for said loan i need to know what the rate is and whether i can afford it and if i have appropriate collateral etc etc

3. I need to do research on the bank. The history, the leadership, what's going on in the marketplace that might affect my loan or my ability to get one.

4. Having all the above information should direct me to a bank where i should get my loan. There's no guarantee im going to get said loan but at least i know what the fuck im doing and im not counting on my blackness to carry me.

5. If i have financial literacy i should understand how to make, save and grow money so that i have my own money until which time i can get said loan.

6. If i do get said loan i need to be able to effectively calculate interest and payment. I need to know how to put together a budget, how to stick to this budget. I need to know how to read balance sheets, i need to know how to make effective savings cuts that doesn't effect my business or production quality.

Black banks have existed for decades and "the community" is still fucked. Those assholes beat the system and have multimillion dollar business. They're no different than any other bank, they do business. You need to do fucking business.

 

[Swiffness!]

Black banks have existed for decades and "the community" is still fucked. Those assholes beat the system and have multimillion dollar business. They're no different than any other bank, they do business. You need to do fucking business.

Its like niggas are shocked that Black people can be corrupt or incompetent too. Like we've learned nothing from Mugabe and Black Cops.....

That said this was out of bounds:

Its a BoA in black face.

Unfair and uncalled for. Bank of Amerikkka are straight muhfuggin devils, one of the worst, most malevolent actors in the financial crisis. Terrible false equate them w/ any Black bank.

 

[jono]

This is going to be my last post on the subject because I got all over the place. I have several points.

1. As a person who does business I need to be able to do business with any one. There shouldn't be attacks or shaming because my partners aren't also black.

2. As a consumer i should be able to do business with anyone i damn well choose. I am under to no obligation to work only with other black people. Again, i should be able to do this without any attacks or shaming.

3. You need to ask questions and have a plan before you make any decisions. Any motion without a plan is chaotic.

4. People should be expected to think for themselves. That sheep mentality doesn't work. Encourage people to think and decide for themselves.

5. Do research. In your endless race away from the Donald Trumps of the world you could run into the loving arms of a Clarence Thomas. All black people aren't your friends and stop being naive to think just because you have one thing in common that yall the same.

6. Do for self means DO FOR SELF...meaning YOURSELF make decisions in the best interest for you and your family. In which case you owe no one an explanation.

7. Financial literacy and critical thinking skills need to be cultivated early in life. Teaching people to be naive and/or ignorant of how to manage their own money has no upside.

No for the record: Im not opposed to black banks or putting money in a black bank. Im opposed to blindly following the herd. Learn about the bank first and then make whatever move you want.

Im opposed to "mass efforts" with no plan.

Im opposed to putting community trust in the hands of people who are selfish

Im opposed to thinking all black people are the same or are "down"

Im opposed to consumerism so i think your money is better in your hands and not anyone else's. Save your nickels and dimes, learn how to invest them yourself don't let people swindle you because yall share skin color.

Im opposed to blackness being used politically or for the purpose of manipulation.

Im opposed to blackness being a marketing tool. If you willing to operate in the free market then compete like everyone else. This ties into blackness being used for manipulation. If you a black business owner market your product or service not your skin tone...its tacky and devalues your work.

The fucking end and goodnight.

 

[MarcusGarvey]

There are black people with great ideas good credit and all that is needed to start a business that has a chance to survive and maybe see a profit someday..... but not of it matters because they don't have the capital and no amount of critical thinking skills or asking questions is going to give it to them.

They need access to money... fuck waiting. Teaching the next generation financial literacy but leaving them broke because you were too weak or stupid to attain the wealth necessary to make them competitive is foolishness. we have to do this shit now or in the next 30 years it will be our kids still struggling with the same issues we struggle with now

GOAT for this.

 

[StillFaggyAF]

This is going to be my last post on the subject because I got all over the place. I have several points.

1. As a person who does business I need to be able to do business with any one. There shouldn't be attacks or shaming because my partners aren't also black.

2. As a consumer i should be able to do business with anyone i damn well choose. I am under to no obligation to work only with other black people. Again, i should be able to do this without any attacks or shaming.

3. You need to ask questions and have a plan before you make any decisions. Any motion without a plan is chaotic.

4. People should be expected to think for themselves. That sheep mentality doesn't work. Encourage people to think and decide for themselves.

5. Do research. In your endless race away from the Donald Trumps of the world you could run into the loving arms of a Clarence Thomas. All black people aren't your friends and stop being naive to think just because you have one thing in common that yall the same.

6. Do for self means DO FOR SELF...meaning YOURSELF make decisions in the best interest for you and your family. In which case you owe no one an explanation.

7. Financial literacy and critical thinking skills need to be cultivated early in life. Teaching people to be naive and/or ignorant of how to manage their own money has no upside.

No for the record: Im not opposed to black banks or putting money in a black bank. Im opposed to blindly following the herd. Learn about the bank first and then make whatever move you want.

Im opposed to "mass efforts" with no plan.

Im opposed to putting community trust in the hands of people who are selfish

Im opposed to thinking all black people are the same or are "down"

Im opposed to consumerism so i think your money is better in your hands and not anyone else's. Save your nickels and dimes, learn how to invest them yourself don't let people swindle you because yall share skin color.

Im opposed to blackness being used politically or for the purpose of manipulation.

Im opposed to blackness being a marketing tool. If you willing to operate in the free market then compete like everyone else. This ties into blackness being used for manipulation. If you a black business owner market your product or service not your skin tone...its tacky and devalues your work.

The fucking end and goodnight.

Lmao at this shit

 

[5th Letter]

Give them a chance before we question them.

 

[Mastery]

I can't go into details, but let's just say the niggas in here criticizing or questioning the black banks, most of them are rated the same as these big banks you niggas currently bank at. Just like the big banks though, they need your business.