Posted on 03/11/2021 6:54:00 AM PST by karpov
Goldman Sachs Group Inc. said Wednesday it would invest $10 billion over the next decade in businesses and organizations that benefit Black women.
The commitment is meant to channel capital and resources toward a group that has historically faced challenges accessing them. Goldman Sachs GS plans to invest in housing, healthcare and other programs with the ultimate goal of narrowing the wealth gap between Black women and others. The bank also will commit $100 million to philanthropy.
Investments could include, for example, a company that reskills home-care workers, an industry that employs many Black women; a community-development financial institution in the Deep South; and a health center in a predominantly Black community of New Orleans.
“We’re going to create a new model about what inclusive growth looks like,” said Margaret Anadu, the global head of sustainability and impact in the asset management unit of Goldman Sachs. “The work we do here, we think will drive progress for everyone.”
Major financial institutions are reckoning with their own historical role in depriving people of color of the loans and investments that ultimately build generational wealth.
JPMorgan Chase & Co. made a $30 billion pledge last year to bridge the racial wealth gap, including extending billions of dollars in loans to Black and Latino home buyers and small-business owners over the next five years. Bank of America Corp. said last month it would triple its commitment to affordable homeownership programs to $15 billion over the next five years.
Increasingly, bank executives have cast their efforts to rectify racial injustice in economic terms. Citigroup Inc., in announcing its own $1 billion initiative last fall, said that if racial gaps for Black people in wages, education, housing and investment were closed 20 years ago, $16 trillion could have been added to the U.S. [GDP].
(Excerpt) Read more at wsj.com ...
In an increasingly white-collar labor market, a race with average IQ one standard deviation below the mean is not going to earn as much as other races on average. Since our "elites" are bent on equalizing results by races, it is necessary to mention rude realities.
In 1821 that title would have held a completely different meaning.
As long as they keep dividing, there will remain division.
Where does Goldman Sachs get away with wasting its investors’ money like that?
Exactly, they want segregation.
Are they trading in slaves again?
Prediction. In the Year 2521, Americans will still be hearing about “marginalized people, oppressed people, groups that have historically faced challenges accessing resources, systemic racism, and white supremacy.”
Of course, that depends on 1) there still being an America and 2) all white people haven’t been exterminated.
White people will be hired and paid in this push. Actual black women will see 0.01% of the money.
Perfect timing for me. As of yesterday I decided to self-identify as a black woman.
Deep State puts them outta biz, then has them queue for a handout of other people’s money.
For which they will be properly grateful or off goes the spigot.
What a racjet.
...racket...
Amazing how many people buy this. Costing investors millions of dollars. Oh, wait. Equality and equity. Sorry, I forgot myself there for a second.
This is one sick idea. Keep giving one race things and see how it turns out. Entitlement is not pretty.
At what point between now and then would race grievance hustlers ever stop wanting a paycheck for keeping people unhappier and less content than they’d otherwise be?
Booker T Washington nailed them more than a century ago.
Consequently you can be assured you are correct.
The U.S. taxpayers have already invested TRILLIONS on such programs that NEVER worked.
But you go ahead, tell us how that all works out in a few years. LMAO!
Did Nancy tell them don’t worry she’ll cover the losses with taxpayers cash ? Nancy will pass a Bill and take whatever she wants
Sounds good to me.
They can kiss that money goodbye.
I’d say the chances of the dems passing reparations before 2024 are about 100%. All these mini-reparations are to prepare us for the big one, which is their holy grail.
Money down a sewer.
The ROI will be negative even in cities where there are no white women willing to work
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