[stylin19a]

Can this couunt towards reparations?

[dennisw]

The federal government provided $435 million to the bank, the nation's largest community development lending experiment.
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Was the $435 million flushed down the toilet or are the loans actually going to be paid off?

[VOA]

The Los Angeles Community Development Bank has been plagued by bad loans, poor management
and often fell short of its mandate to create jobs for the city's poorest residents.

So where are the indictments for fraud? Or a mention of the poor managers being demoted
or fired for frittering away $435 million?

City Council approved a plan Friday directing it to phase out operations over the next 18 months.

Hmmm...wonder if some of that $435 million might have helped the City Council
give such a disasterous organization more than a year to phase out...

[BfloGuy]

Banks are created to take in deposits, make loans, and invest what's left. The purpose is to make money for the shareholders.

When a bank's purpose is to create jobs, revitalize a neighborhood, and right past wrongs it's almost definitely destined for failure.