Thursday, October 13, 2011
While we need to draw attention to legislation that have made investment banks and corporations such as GE and AIG like commercial banks with depositors with the protection of the government that are themselves now too big to fail, why don’t communities do something about this? Commercial banks couldn’t survive without our deposits and investment banks couldn’t subsist without our investment. Goldman Sachs, for example, is heavily invested in cities throughout the country and many throughout the globe. We have to get creative and rebuild smaller thriving communities and essentially create the likes of Black Wall Street. But this time the segregation will be by choice. (Desegregation, by the way, helped to destroy the concentrated wealth of Black Wall Street.) We need to collectively segregate our capital and pool it in ways that will directly benefit the communities where we live. We are indeed the people we have been waiting for and in this regard it has nothing or little to do with elected officials and chief executive officers.