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Forum nameOkay Activist Archives
Topic subjectNo Argument here....
Topic URLhttp://board.okayplayer.com/okp.php?az=show_topic&forum=22&topic_id=15211&mesg_id=15276
15276, No Argument here....
Posted by M2, Tue May-15-01 07:18 AM
.....but Black banks don't have a choice n/m?

If they're really going to be an economic force to help poor Black communities, where the majority of their customers are poor and the ones who elevate themselves financially, typically leave..they HAVE to drum up Business outside the community.

I lot of Black Banks are more or less sound, but they're so small it's hard for them to do much.

Expanding their range of financial services and expanding to Black suburbs is a good start, particularly since Black Suburbs (in my experience) seem to have White People living in or near them anyway....so it's a good place to start to gradually put our Businesses in their neighboorhoods too.

As for the Stakes being high, well NO bank wants another Bank opening near them. BUT, I see new Banks opening up in the burbs everyday. I suspect however, that Majority Banks are able to push their way into new Markets easier, simply because they have more money. PLUS, you and I know that all it takes is ONE racist to throw a Monkey Wrench in the whole program.

So we're going to have to be Creative, charter a new Bank company (majority owned by the Black Bank) and send that Bank into the Suburbs, put some token White Boys in charge. Start a Real Estate company, and buy up potential Branch Locations.......AND then move your Bank into it.

Whatever we have to do, it must be done. We have to generate our economic strength from somewhere. I'll admitt that they are numerous obstacles in our way, but I don't think we could really be stopped in the end.

Maybe I'm just being optimistic, but I see Blacks increasing their incomes at 10%/year, I see Black Businesses increasing their profits faster then White ones (For the last 15 or so years). So while I think they're are those who want to stop us, I only think they can slow us down. Furthermore, I see corporate America trying to capitalize on it, by buying Black Investment Banks and Ad Agencies. AND, Black Investment Banks seem to be able to get White customers......so now it's time for other Black Businesses to do the same.

Citizen Trust was an unfortunate set back, but that's all it was. Throw Our Race, and economically the stakes are high for Banks allowing new ones to open up...but a New Bank just oppened up within 200 meters of my housing development and other opened up within a 1/2 mile of here. We have to keep trying, because in the end, they can't really stop us...only slow us down. It's not about the Whites letting us do anything, it's about us saying: "hey we're posting up, deal with it. Oh got a monkey Wrench eh? Damn, while you were focusing on me one of my boys just posted up on your behind"

I'm sick of White Businesses getting everyone's dollar, while Black Businesses limit themselves to 13% of population. Those Businesses are the source of economic strength for a lot of us, and we have to expand to get the White Dollar as well. Asians and the Jews have faced this problem too, and they got past it. So will we.


Anyway, now that I'm finished ranting. How exactly did the Citizen Trust thing get squashed? I ask because I'm curious as to the obstacles in doing things like this.


Peace,



M2