Banking on Our Own

Blacks pay more because they are a greater risk for loans, because they force retail establishments to do business in crime ridden black areas, and because they are awful credit risks. They want it all now, but don’t want to save the cash to pay for anything. The vicious recession we are in is in part the fault of blacks who stupidly bought homes with subprime low mortgages that they couldn’t afford when interest rates went up after a certain point according to the loan agreement they signed. But if you’re illiterate, what difference is it what you sign?

Where can I go to avoid being overcharged?

Anyway, about 90 percent of blacks who work are government employees who can join employee credit unions. I retired 15 years ago from a state university job. I still belong to that credit union because it charges almost nothing, in marked contrast to regular banks that charge all sorts of fees. My other bank charges various fees.

YES .. blacks need to shop strictly with blacks if they were to do this prices would go down (for other venders) due to less inventory shrinkage is my guess?

Blacks cheat blacks more than whites cheat blacks. That’s part and parcel of why they cannot sustain functional communities or civilizations, both of which require the vast majority to be honest and trustworthy.

Now, they want black banks. Because of the way most blacks handle money (very poorly), they always pose a higher risk to economic institutions, and therefore, are subject to paying higher interest. They go to those loan-shark-money-today type lenders, and don’t care if they pay ridiculously high interest as long as they have cash in their hands NOW. They go to rental furniture and appliance businesses and end up paying $2,000 for $500.00 desktop computer because they can’t wait and save the money to buy it outright. They create their own economic woes, and of course, the big bad bank owned by “da man” is to blame. Now imagine, a black-owned bank with all black customers = no savings, therefore, no interest, unpaid loans, bounced checks, people waiting in the lounge all day with nothing to who want to discuss their overdrawn checking account that never reached a higher balance than $18.67. (Of course, they have no idea what their account number is etc.) = a failed bank. And Whites will be blamed for that, too.

If I interpret this article correctly, the writer Raynell, says “in no way am I advocating we segregate ourselves from Wall Street”…Yet, in the next breath, he calls on Bantus to invest in Bantu banks, because he thinks Bantu banks will invest in their neighborhoods. He even calls for Bantu banks to dole out freebies like free children’s savings accounts to Bantu schools and churches.

If that isn’t calling for segregation, I don’t know what is. How is this guy different from George Wallace(the ex-governonr, NOT the Bantu “comedian”)?

These days, when it comes to non-black businesses that blacks tend to frequent, the ones you hear them complaining about the most are beauty shop owners. Black women spend a fortune on their hair and nails, and almost all black beauty (hair-care) shops, and nail salons, are run by Asians these days. You will often hear them complain that they are either disrespected, or treated like thieves, or simply complain that they are getting rich off them. Thing is, black owned hair shops, existed in the days before the weave became popular, and the human hair used in their weaves, most often come from Asia, specifically, China, North Korea, and in some cases India. Asian merchants are the biggest suppliers of human hair, which they collect allover the world, even in countries like Russia who sell premium priced European hair. Black women also love long showy sculpted nails, which Asian businesses have cornered the market on these days. It’s all a matter of supply and demand, and blacks need to question their own dependence on these products, before they blame others for making money off them.

This is just more whining. The fact is, it cost banks more to lend to blacks because the default rates are higher. The fact that black owned banks claim they don’t have the money to lend to other blacks tells the story.

If he really believed his own article, he would see a golden business opportunity.

It’s expensive to be black in America. Recent studies and lawsuits prove we are overcharged for virtually everything. We are charged more for insurance, loans and mortgages than most of our racial counterparts with similar income, employment and credit backgrounds.

Blacks are more expensive. They cost more taxpayer dollars (the amount of wealth transferred from whites to blacks via thef- er, I mean, taxation, is obscene). They cost more to insure (because of their behavior), it’s more expensive to loan them money (because of their behavior), it’s harder to give them a mortgage (because of their behavior). They engage in more self-defeating economic behavior than their racial counterparts with similar income, employment, and credit backgrounds.

And they have lower IQs, so they fall for more scams. E.g., car salesmen, who know to go in harder on blacks, because they can get more.

According to the U.S Census, black America will approach $1.2 trillion in disposable income by 2012. Yet, none of Black Enterprise’s Top 25 Black-owned Banks has $1 billion in assets.

Blacks have lower IQs and less aptitude for cognitively challenging tasks. Ergo, they are out-competed for black consumers’ dollars. This is an inevitable consequence of forced integration, and not complicated.

Yes it’s true, even though, by a large margin, most blacks are murdered by other blacks in this country, a black bank will not try to rip-off black customers. Meanwhile, white racists at white owned banks will attempt to cheat blacks every single time.

There’s no doubt about it, being black in America is a terrible, wretched business. And yet, the greatest mystery of all is that I can count on one hand the number of blacks who have left this country in the last 20 years to live in the black utopia of Africa. Quite a mystery.

Fine. But: The only black owned bank in St. Louis has only a very few branches and a declining customer base, and it has a reputation for poor customer service. (Wonder why.) Ironically, this bank never made any “subprime mortgates” that the writer of this article seems to think they would. Like I always say, nobody knows blacks better than they themselves. Black people won’t use black banks, and black banks won’t lend to black people.

I LOVE THIS IDEA!

Blacks should only patronize black businesses.

THEREFORE:

They should only rent from black landlords.

They should only work in businesses owned by blacks.

They should only buy books and publications written by blacks and published by blacks.

They should only go to black doctors and other medical professionals.

I think you get the idea.

Black owned-banks must do more to attract black customers. {snip} Black owned blacks could offer free children’s savings accounts to schools and churches that serve minority populations. Banks could also advertise in black media. And, sponsor events that matter to us.

After black-owned businesses produce competitive products and serve us, it is our responsibility to give them a fair shot at our business. We could consider directly depositing 10 percent of our paychecks into black banks. We could purchase life insurance from black insurers and companies. We could also invest for retirement {snip}.

After black owned businesses produce competitive products,I’ll invest heavily in a firm that will promise to build a set of wings for that hog running around on my hunting lease.

“It’s expensive to be black in America.”

No, it’s expensive for WHITES to support blacks in America.

“Recent studies and lawsuits prove we are overcharged for virtually everything.”

Maybe your atrocious credit scores, outrageous spending habits and unwillingness to save has something to do with it?

And just plain LOL @ the concept of black-owned banks.

You’ve caught us Mr Rinkins, you mental giant of the black community.

The very specific set of criteria the whites have set out for credit risk includes a “race box” When it is checked “black” the APR is bumped up 3 points.

You should immediately summon all the great black minds of the financial world to set up a parallel system which favors blacks.

With this niche market you will undoubtedy become a billionaire and at the same time avail the black community of equal access to the riches we whites have been privately privelaged of for all these years.

With this masterstroke of genius that no other entepreneur has ever thought of there’s no way you and any other wise investor will be totally bankrupt within two years.

IDIOT.

If only all white people with a 10th grade education could be so easily published with inane pipedreams in place of facts, we could all be respected writers and draw a living wage on spewing the first thing that pops into our heads.

This is utterly hilarious. Blacks pay more for loans of any type because their average bureau scores are far below that of any other racial and ethnic group. They pay more to shop in their own neighborhoods because businesses in such neighborhoods pay much higher insurance premiums due to theft, vandalism, and incidence of fire damage, plus having to pay their help combat pay.

That blacks pay more for many types of goods and services is entirely a self-inflicted reality, suffered both by black customers those hapless merchants and entrenpreneurs who chose to operate businesses in their neighborhoods.

I totally agree that blacks should only patronize black owned businesses. I’m sure many of you has witnessed these things on on daily basis- - going in the corner store to buy a coke and being charged around a buck and THEN seeing a black man behind you being charged 20 bucks for a coke, at the gas pump, your pump says $1.40 a gallon, but when a BLACK MAN pulls up, his pump changes to $5.00 a gallon. I could go on but you all know it happens! So I say to them - good for you. By only buying black, working at only black businesses, going to black schools, living in black neighborhoods, dating black, that will show dem racissss crackas. No what I’m sayin - keepin it REEEELL!!!

By all means, re-segregate. Stop chasing us around, begging to be in our schools and wanting a piece of what we built up. Re-segregation is something EVERY race, color and greed can agree upon.

We want the white man’s stuff, now we don’t, now we do, now we don’t. Stick with “now we don’t.” Everyone will thank you.

I am a white Insurance Broker. I think that it’s a great idea for people of the same race to support same race business’. There are alot more of us than them. I used to be in the car business and saw on many occasions that blacks would only use black salespeople to purchase from. We as whites should do the same thing. We are trying to feed our family just like the other races out there. When we go shopping we would buy from our family if they were working there. We as a race should consider ourselves an extended family. All other races do this, it’s time we start putting our race first.

It’s funny, but the last car I bought I did all the financing online and didn’t have to enter my race anywhere in all the forms. I didn’t realize that cracker tricknology had advanced to the point where The Man could discern my race by keystroke patterns or other such devious method.

Blacks are charged more to borrow money because they are such terribly poor credit risks. But hey if blacks want to do business with blacks that’s fine with me. In my experience doing business with blacks just isn’t worth your while. They are more trouble then they are worth - even when they mean well.

This all sounds wonderful until you realize that most of these people could not organize a two car funeral, much less manage a business. Even with all of the affirmative action benefits, black owned banks still tend to fail in higher percentages than white owned banks. When segregation was formally ended, blacks went in droves to the white owned businesses. Now, pretty much the only black owned businesses you will see in a predominantly black area are funeral homes, local fast food restaurants, and hair/nail places. It’s pretty hard to build a supply chain if most of the people steal the links.

“It’s expensive to be black in America. Recent studies and lawsuits prove we are overcharged for virtually everything. We are charged more for insurance, loans and mortgages than most of our racial counterparts with similar income, employment and credit backgrounds. Paying more money for vital services robs us of our quality of life and our future.”

Maybe it’s because blacks are a lot more expensive to deal with. Crime tends to drive up the cost of things. Take the local rent to own store. Yes, these places charge astronomical sums, but that is the cost of doing business. A significant portion of their business involved chasing after deadbeats. This is also true with the “We tote the note” car lots. You end up paying $5000 for a $2000 car and if you default on the loan, the deal will repo it and send it out of town to another used car dealer. You have to factor in the cost of X% of cars that must be sent out of town or they will be vandalized if that car goes back to the original lot.

I’ve never had furniture, appliances, electronics, or a car repossessed. But then, unlike a lot of people, I buy used or get the el-cheapo model until I can upgrade (and pay cash for it). I have never bought a new car in my life. A 50 inch flat screen with all of the bells and whistles is not in my house.

This premise is much the same as the black belief that, if blacks had political power in Detroit, the city would then thrive. Or, that if blacks ran Zimbabwe, and took over the farms, once owned, and cared for by white farmers, they would soon yield a harvest of plenty. Look at the end results in both cases. Thing is, it wasn’t too long ago, blacks were blaming white bankers for denying them the right to be home-owners despite dismal credit rating, and were granted subprime loans, which put the housing market in the toilet. They keep making more demands, and even more demands to take control of things, but when things go awry, as they always do, the go back to blaming to novel approach of blaming whitey.

Robert, you have hit it. We use exclusively White, English speaking businesses. I realize you sometimes have no choice, but where I do, I self-segregate. Every one of us should. Just as blacks prefer their own to others, I agressively pursue White business relationships.

I was in the service with this one (black) character who finally informed the military that he had two bastard daughters when the notice of child support payment ended up on the CO’s desk. Since this was in an era that the military was trying to become more politically correct, he got off with nothing more than a scolding. Most of the other people at the command would have been in a world of hurt.

On more than a couple of occasions, he tried to borrow money and swear that I was “rayciss” if I didn’t lend it to him. He was a very poor credit risk at the very least. He never got a nickle from me. This knucklehead went out and purchased a fairly high end motorcycle on an E-3 salary and promptly wrecked it. Eventually, he was thrown out of the service for drug use, but this guy was of the same mentality as those that built a 300K home on a 40K salary 3 - 4 years ago.

I was a car salesman for a couple of years. When a black guy came rolling up on the lot, all the salesmen scatterd (incl the black salesmen) because we all knew he was a “roach” (an endearing term for folks with horrible credit). At first, I didn’t know, so I waited on them. And every single one, with the exception of one black guy married to a white woman, had a credit history full of chargeoff’s, repos, bankruptcy, etc. And I mean all of them. It was amazing the level of irresponsbility. They never paid a bill. Of course, I learned to disappear when a black pulled up on the lot as well.

Blacks cannot survive economically if they patronize only black buisnesses because there are so few of them, and of the ones that there are, they are woefully inefficient and incompetent.Read Tony Browns book, Black Lies, White Lies.In it he tells about an enterprising black who tried to start a black employee only grocery store, only to have it die because blacks would not buy from it.

Turns out that blacks have had their own S&L in Pittsburgh for more than a century — until this weekend, that is, when the chickens finally came home to roost. [sarcasm] Gross negligence, money laundering — gosh, who could have imagined such things happening in a black-run financial institution? [/sarcasm]

Sorry ‘Butkis’ but ‘afro-americans’ would not and could not survive anywhere in black africa. There is NO welfare or government hand-out system whatsoever and the vast majority of people people live off their wits just to survive. True there are some very rich black africans indeed but there is no chance whatsoever of this wealth tricking down as corruption at street level actually works it’s way up the chain. No one in any sort of local level power (police for example) got the job without patronage and must take bribes to exist and pass along a goodly percentage. There are virtually no whites to rob or live off and the black africans are much much smarter that afro-americans who would present an ideal target for whatever assets they happen to have. I doubt if blacks in USA could organise such international scams as the nigerians are well known to promote. However, if any have tried a new future in africa, it would be most enlightening to learn of their experiences.

“…We are charged more for insurance, loans and mortgages than most of our racial counterparts with similar income, employment and credit backgrounds…”

This old canard and the continued belief in the inequity of the justice system is tiresome to say the least. I’m surprised he didn’t claim that low black FICO scores are inherently racist.

According to Larry Elder:

“…Black banks, in fact, reject black applicants at a greater rate than do non-black-owned banks…”

http://tinyurl.com/ps9x32

Guess those black owned banks don’t have to answer to the Justice Department for racial discrimination do they?

Bon

I remember the Kingfish on the Amos & Andy series. He was forever hornswoggling his friends and neighbors as was the attorney Algonquin J. Calhoun. I was a kid at the time and didn’t realize how true those episodes were. Blacks do cheat other Blacks. Witness the Funeral Director at the mortuary in Georgia who sold the same graves multiple times.

“According to the U.S Census, black America will approach $1.2 trillion in disposable income by 2012. Yet, none of Black Enterprise’s Top 25 Black-owned Banks has $1 billion in assets. Their combined assets total nearly $6.4 billion. That means that out of $1.2 trillion we invest less than one cent per $1000 of our disposable income in our own financial institutions.”

Less than one cent per $1000 of $1.2 trillion is something less than $12 million dollars, not anywhere near $6.4 billion. I think the author meant ‘less than $10 per $1000 of $1.2 trillion’, which would be something less than $12 billion. The actual figure is close to $5 per $1000. This guy writes for “Black Enterprise” and is only off by a factor of 500. Wow.

Blacks are horrible with money. Just go to any housing project and you will see what I am talking about. Expensive hairdos, nails, shoes, cars and electronics abound, you have to wonder where they are getting the money for all of this bling when they have to live in public housing. Most blacks cant even keep track of a simple checking account so they have to use check cashing services that charge nearly criminal fees, plus rent to own places that will literally pound on your door if you are 10 minutes late with the payment.

“According to the U.S Census, black America will approach $1.2 trillion in disposable income by 2012. Yet, none of Black Enterprise’s Top 25 Black-owned Banks has $1 billion in assets.”

This is empiracal evidence that:

- Blacks don’t trust blacks.

- This lack of trust comes from black’s experience with other blacks.

- Blacks generally are so finacially unreliable that black banks are forced to raise loan interest rates - thus preventing black banks from growing.

Seems to be an underlying intrinsic cause here, doesn’t there?

This is what happens when Blacks DO do business with other Blacks:

http://www.youtube.com/watch?v=0NW9snKx054

“Recent studies and lawsuits prove we are overcharged for virtually everything”

“Studies” do nothing to “prove” anything; they have said for many years that eggs are good for you, bad for you, and good for you again. They are for entertainment purposes only. As for lawsuits “proving” anything, I am amused.

“We are charged more for insurance, loans and mortgages than most of our racial counterparts with similar income, employment and credit backgrounds.”

Your references, sir, are… Where?

Blacks are one of a number of what are sometimes called “low-trust cultures”. Basically this means the community is so rife with crime and general dishonesty that it is difficult if not impossible for normal business transactions to be conducted.