News From 2002

16 03 2017

Clayton

P-D:

Groups call Enterprise Bank minority lending commitment ‘groundbreaking’

Community groups describe as “groundbreaking” a new community benefits agreement with Enterprise Bank and Trust that commits to lending hundreds of millions of dollars in low-income areas.

And then, blah blah blah blah blah minorities.

Spoiler alert:  It ends with a yuge financial crash followed by a great recession followed by Enterprise Bank and Trust going belly-up.

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3 responses

16 03 2017
Abel

Note to self: dont bank with Enterprise. Not out of any alt-right conviction but simply because there can I have to make up for that lost money from other customers. And I do not want to be the one.

17 03 2017
Nightowl2548

When I had a good job at GE I used to spend my month vacation every summer in Thailand and I noticed that there was no such thing as “plastic” amongst the lower classes. It was a cash only economy. There was no political commissars forcing the banks to give credit cards to the irresponsible lower elements who the bankers knew quite well would max out the thing and never pay it back. Noticed similar “peasant” types of brown people I worked with at GE, (Cambodians and Hispanics) all were in debt to the max of their credit card limit. The bill collectors were calling the phone on a pole on the factory floor constantly looking for them, nasty distraction all G-D day long. Predictably the banks had mistook past patterns of economic data as being relevant for all these “New Americans” totally disregarding race. As a matter of fact, a lot of lower class whites as well were granted easy credit they shouldn’t have been, particularly unmarried women. I prefer the “cash economy” it keeps things realistic. Electronic transfers should be reserved only for high value transactions that make it impractical and dangerous to carry so much cash, or unexpected expenses such as a car breakdown.

17 03 2017
Thomas

I think I saw this on an episode of the Wire, or maybe it was the Sopranos. As I recall, the money got pocketed, the bank got stiffed, and hood stayed the hood.




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