So apparently there are "black" banks opening up ...

[bignateyk]

Originally posted by: Sinsear

Originally posted by: brandonbull

Originally posted by: swimscubasteve
I think it's a good idea and not racist at all. Just because you target a specific demographic doen't make you a racist.

Only if you are white does targeting a demographic make you a racist

QFT. Go ahead and start a White Entertainment Channel...see what happens

heh. WET

 

[mugs]

Haven't some banks gotten in trouble in the past because they were reluctant to give loans to black people in urban areas?

Maybe that's the problem he's trying to address.

 

[mercanucaribe]

Originally posted by: Sinsear

Originally posted by: brandonbull

Originally posted by: swimscubasteve
I think it's a good idea and not racist at all. Just because you target a specific demographic doen't make you a racist.

Only if you are white does targeting a demographic make you a racist

QFT. Go ahead and start a White Entertainment Channel...see what happens

No one is calling these people racist.
http://www.irlfunds.org/aif/boston/events_13.asp
Or maybe they are anti Semitic because I don't see any Jews.

 

[loic2003]

Sound. I'll start up a bank just like his, but one that caters for white folks. Then we'll see who gets called a racist.

 

[Mucho]

If I remembered correctly years ago they also opened a Women's Bank however, it folded after a year of so.

 

[timur]

Originally posted by: J0hnny

Originally posted by: timur

Originally posted by: J0hnny

Originally posted by: timur

Originally posted by: J0hnny
Well, there are many Chinese family owned retail banks and from what I've seen, they rely on the business of mainly Chinese people who trust their own.

What the proportion of the nation that's Chinese? Are those Chinese banks a bad idea?

It's not about the proportion of the nation that's Chinese. Population does not correlate with % of business. A single wealthy person can represent a disproportionate amount of business.

Given that much more of the population is black than Chinese, I'm sure there are more single, wealthy Blacks than Chinese...to represent disproportionate amounts of business

I highly doubt that given that a disproportionate amount of wealth is in the hands of asians, as compared to african americans. What I'm trying to point out is that you CANNOT correlate % population with % business!

I'm saying there are more disproportionately wealthy African Americans than there are disproportionately wealthy Asian Americans.

If you'd like, we can compare the number of blacks and Asian Americans in the Forbes 500

 

[timur]

Originally posted by: J0hnny

Originally posted by: timur

Originally posted by: J0hnny

Originally posted by: timur

Originally posted by: J0hnny
Well, there are many Chinese family owned retail banks and from what I've seen, they rely on the business of mainly Chinese people who trust their own.

What the proportion of the nation that's Chinese? Are those Chinese banks a bad idea?

It's not about the proportion of the nation that's Chinese. Population does not correlate with % of business. A single wealthy person can represent a disproportionate amount of business.

Here is an entire article for you to read so you can understand how your statistics DON'T work!

http://www.usatoday.com/money/general/2002/02/27/minority-biz.htm

Let's see. A whole lot about small business ownership, not a whole lot about nominal numbers of wealthy people. Try again

 

[DougK62]

People like this guy have MLK rolling in his grave. It's really sad.

 

[GeneValgene]

lots of chinese banks here in houston, tx

 

[Superself]

Some people here are very ignorant.

I find it hard to believe that many of you are so naive to believe that this bank is only for black people.

The focus is black-owned. Pay more attention to that. There are not many black-owned banks in the US.

For those who believe that banks are fair as far as giving out loans, you have been misled. There are countless true stories of minorities who have attempted to get a loan for a house in a predominately caucasian neighborhood and have been turned down because of their race.
So began the roots of economic disenfranchisement.

 

[mikej007]

Originally posted by: MercenaryForHire

Originally posted by: purbeast0
Here's an article about it, and apparently the bank has alrady started and I guess he was discussing his expanding possibilities on the radio this morning. It's called Urban Trust Bank.

Johnson's Urban Trust Bank Makes D.C. Debut

/reads

I fail to see what makes that a "black" bank, other than in George Carlin's words:

"When did the word 'urban' become synonmous with the word 'black'?"

- M4H

QFMT. My thoughts exactly.

 

[krunchykrome]

Originally posted by: Golgatha

Originally posted by: J0hnny

Originally posted by: krunchykrome
Also, one personal observation is that every bank I visit "Wachovia, Provident, Sun Trust", most of the employees are Black. I don't understand what he means by having a "black" bank other than probably having more lenient check cashing policies. But hey, thats just my opinion.

Wow, it's the same for me here in NYC. I'd have to say I've never seen a caucasian bank teller in the last 4 years!

Who writes the loans and who runs the bank? Banks are pretty much all owned by a bunch of rich, old, white guys who know that they must staff their branches to reflect the communities they're set up in if they want to be successful.

Wachovia for example.


Now, a serious question. Can any bank discriminate based on the color of your skin for things like home loans, education loans, etc? Without doing further research, I'm going to say that this practice has to be illegal or at least should be.

Actually, it has nothing to do with staffing their branches with people "of the community." I believe it has a lot to do with the lack of job qualifications that the bank jobs require that unfortunately, many minorities fit.

 

[krunchykrome]

Originally posted by: J0hnny

Originally posted by: Gooberlx2

Originally posted by: J0hnny

Originally posted by: Sinsear

Originally posted by: Kaido
Isn't that racist against the rest of us?

Yes.

No it wouldn't be, as long as they don't deny you the same service and lending rates.

Which they don't, at least the article mentioned no such thing...so....it's just another bank. Just a regular old bank. A normal, boring bank.

CORRECT! THIS IS NOTHING NEW! There are a thousands of "ethnically" friendly banks/credit unions already existing!!

example: List of Minority Owned Banks!

Nothing about the names of those banks struck me as being "for minorities."

 

[krunchykrome]

Originally posted by: mercanucaribe

Originally posted by: bignateyk

Originally posted by: timur

Originally posted by: bignateyk
well, unless hes going to be giving some kind of charity (like really low interest rates), or giving loans to those who are normally unable to get them for the purpose of school, etc..., then I think this is pretty fvcking stupid.


And if he is doing this for charity reasons, then I dont think it will last very long.

What if it not him doing the charity?

What if he can convince blacks with money to put their money in savings there at a lower interest rate instead of at normal banks?

People buy Priuses to feel good even though they not really saving money, why not deposit their money in a black bank to feel good?

Then I think its just a stupid idea that promotes the misconception that black people are discriminated against when getting loans, etc..., and if anything, will make problems like that worse.

Black people ARE discriminated against in banking and real estate. Even recent studies have shown that. I didn't read this article, but I'm assuming you don't HAVE to be black to use it and that it's just targeted toward black people. This is not at all the same as having a white people oriented bank.
That's like comparing an Irish American organization to the KKK, when it's clearly different.

What recent studies?

 

[Arkitech]

I think a lot of you are missing the point. I don't think this is an business that "only" caters to black people, its just an enterprise that is owned by black people. Unfortunately in america there is a shortage of certain types of minority owned businesses, so enterprises like this are kind of a positive message to minorties who are looking to suceed in the business world. At least that's my take on it.

 

[eLiu]

This is beyond retarded. If you want equality, stop fvcking trying to make yourself different at every turn.

 

[krunchykrome]

Originally posted by: Arkitech
I think a lot of you are missing the point. I don't think this is an business that "only" caters to black people, its just an enterprise that is owned by black people. Unfortunately in america there is a shortage of certain types of minority owned businesses, so enterprises like this are kind of a positive message to minorties who are looking to suceed in the business world. At least that's my take on it.

A positive message is good. But is it necessary to flaunt the fact that it is "black owned" in order for blacks to get the positive message?

 

[purbeast0]

Originally posted by: Arkitech
I think a lot of you are missing the point. I don't think this is an business that "only" caters to black people, its just an enterprise that is owned by black people. Unfortunately in america there is a shortage of certain types of minority owned businesses, so enterprises like this are kind of a positive message to minorties who are looking to suceed in the business world. At least that's my take on it.

I don't know for sure honestly, but I can tell you that on the radio this morning, the BET founder was talking about how this bank is specifically going to be both owned by blacks and also cater to them specifically, just as BET is. He literally said it will be the BET of the banking industry.

I haven't seen any articles that state this but I mean I heard the guy say it himself. It was on the Donnie Simpsons show this morning if anyone cares.

 

[b0mbrman]

Originally posted by: krunchykrome

Originally posted by: J0hnny

Originally posted by: Gooberlx2

Originally posted by: J0hnny

Originally posted by: Sinsear

Originally posted by: Kaido
Isn't that racist against the rest of us?

Yes.

No it wouldn't be, as long as they don't deny you the same service and lending rates.

Which they don't, at least the article mentioned no such thing...so....it's just another bank. Just a regular old bank. A normal, boring bank.

CORRECT! THIS IS NOTHING NEW! There are a thousands of "ethnically" friendly banks/credit unions already existing!!

example: List of Minority Owned Banks!

Nothing about the names of those banks struck me as being "for minorities."

I suppose the Federal Reserve is lying then...

 

[Tom]

One tihng to keep in mind is this is a big country. There's racism everywhere, but those of us who live in areas where blacks have more or less equal opportunity would be shocked what racism is like in parts of the country, like middle Georgia where I just spent some time.

 

[Superself]

Originally posted by: krunchykrome

Originally posted by: Arkitech
I think a lot of you are missing the point. I don't think this is an business that "only" caters to black people, its just an enterprise that is owned by black people. Unfortunately in america there is a shortage of certain types of minority owned businesses, so enterprises like this are kind of a positive message to minorties who are looking to suceed in the business world. At least that's my take on it.

A positive message is good. But is it necessary to flaunt the fact that it is "black owned" in order for blacks to get the positive message?

Yes it is!!
You really don't understand do you?
For blacks that is very important when you rarely see any black owned banks out there. It makes it seem like that is something that could NEVER happen.
I don't know but you really have to walk in their shoes to see it and understand I guess.

 

[Arkitech]

Originally posted by: krunchykrome

Originally posted by: Arkitech
I think a lot of you are missing the point. I don't think this is an business that "only" caters to black people, its just an enterprise that is owned by black people. Unfortunately in america there is a shortage of certain types of minority owned businesses, so enterprises like this are kind of a positive message to minorties who are looking to suceed in the business world. At least that's my take on it.

A positive message is good. But is it necessary to flaunt the fact that it is "black owned" in order for blacks to get the positive message?

How is the fact that it's billed as "black owned" a negative thing? I see businesses all the time that are described by some form of minority phrase "kosher", "asian american owned", etc. . Its not a discrimination type of practice, its just descriptive for consumers who might find that particular business appealing.

 

[purbeast0]

Originally posted by: Tom
One tihng to keep in mind is this is a big country. There's racism everywhere, but those of us who live in areas where blacks have more or less equal opportunity would be shocked what racism is like in parts of the country, like middle Georgia where I just spent some time.

That is true. I've been arond the DC metro area my whole life and went to high school in DC, and my group of friends come from every race you can possibly think of (well you know what I mean ). I've never had a serious relationship w/someone of my own race either. It's just so integrated around here with blacks, asians, hispanics, and arabs alike. Going out to a bar or club around here you will see equal amounts of every race pretty much, well I guess depending where you go hah.

 

[timur]

Originally posted by: purbeast0

Originally posted by: Arkitech
I think a lot of you are missing the point. I don't think this is an business that "only" caters to black people, its just an enterprise that is owned by black people. Unfortunately in america there is a shortage of certain types of minority owned businesses, so enterprises like this are kind of a positive message to minorties who are looking to suceed in the business world. At least that's my take on it.

I don't know for sure honestly, but I can tell you that on the radio this morning, the BET founder was talking about how this bank is specifically going to be both owned by blacks and also cater to them specifically, just as BET is. He literally said it will be the BET of the banking industry.

I haven't seen any articles that state this but I mean I heard the guy say it himself. It was on the Donnie Simpsons show this morning if anyone cares.

I dont think that was his point. I believe he is trying to say that it will not only cater to blacks who find shortcomings at mainstream banks, but also to anyone who finds similar shortcomings at mainstream banks.


I should hope that there will be more differences to this bank than the color of the person on the other side of the teller window...

 

[Arkitech]

Originally posted by: purbeast0

Originally posted by: Arkitech
I think a lot of you are missing the point. I don't think this is an business that "only" caters to black people, its just an enterprise that is owned by black people. Unfortunately in america there is a shortage of certain types of minority owned businesses, so enterprises like this are kind of a positive message to minorties who are looking to suceed in the business world. At least that's my take on it.

I don't know for sure honestly, but I can tell you that on the radio this morning, the BET founder was talking about how this bank is specifically going to be both owned by blacks and also cater to them specifically, just as BET is. He literally said it will be the BET of the banking industry.

I haven't seen any articles that state this but I mean I heard the guy say it himself. It was on the Donnie Simpsons show this morning if anyone cares.

That makes perfect sense to me. It sounds like the owners are just trying to get the message out that here is a bank that won't discriminate against black or minority patrons. Also in some communities there may be minority consumers who don't earn a significant amount of money and it might be harder for them to get loans, it sounds to me like this bank might be aware of those issues and provide a solution for those type of patrons.

Again this is just how I see it and I could be wrong.