What banks are “black owned?”
Never knew we had black or white owned banks ....hmmmm.
Stop paying your cable bill. Stop watching the trash on Netflix (with the exception of Outlander, which can also be seen on Starz).
Get off the TV, get off the media. Read old classics, the Constitution. Get outside and work off some calories.
Many better things to do than watch your hard earned money get siphoned to these shucksters.
But then what happens, when they shift money to black owned banks?
Do the banks lend money only to black businesses and individuals? Or primarily to black owned businesses and black people in general? A bank “invests” by loaning money to businesses, who then repay the loans with interest.
Someone once told me that “bank accounting” is backwards from accounting in other businesses. In that, the money you deposit in a bank is an accounting liability to them; they owe you that money back if you want to withdraw your money.
The assets of a bank are the loans which banks make to earn interest. But the assets are on paper, representing cash which the bank has paid out in the form of loans.
That’s how it was explained to me, anyway, that the bank assets are loans, not cash or cash equivalents. And that your cash in the bank is really a liability for that bank.
/s
All banks are highly regulated and there haven’t been small banks since FDR destroyed them at the behest of his masters. This is pure posturing.
Never knew we had black or white owned banks ....hmmmm.”
From 68 to 88 Seattle had Liberty Bank which was 80 percent black owned. It was closed by the state for various reasons mostly by the black primary owners defrauding the black minority investors.