(https://imixwhatilike.org/wp-content/uploads/2017/11/BlackCapitalism-300x225.png)Joining us in this edition of iMiXWHATiLiKE! for a discussion of myths and political pitfalls associated with concepts of “buying …
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Although I respect the research and work, Mrs. Baradaran has done on this subject we should discuss this topic with our people. For instance, the interviewer asked Merhsa (23:35), paraphrasing,
Please explain why if we all deposit our money in a Black bank why does this hurt, harm, or at least not help them?
Mehrsa responds by saying Black-owned banks, don't want the deposits because the operating cost associated with holding the deposits increases and banks aren't able to make many loans. She then contradicts herself by saying, that when she discussed the "Bank Black campaign" with Black bankers, a Black banker told her that he didn't know what to do with the dollars, but on the flipside, the black deposits will give them access to more profitable loans and a more significant footprint. Well, then I guess banking black does help Black banks after all if it gives them access to more lucrative deals and a bigger footprint. No real logical argument can convince any sane Kmtyw that banking black is hurtful.
While it is true that the cost of operating a bank is expensive, i.e., the back office that reviews legal documents, and performs background checks, etc., some of the expenses can be minimized.