Saturday, February 26, 2011
On Friday, February 25th, we attended the White House Policy Briefing on Jobs and the Economic Future in Communities of Color sponsored by Michael Blake in the Office of Public Engagement. The meeting was held at the Eisenhower Building. Speaking were:
Saturday, February 19, 2011
"Not a single executive who ran the companies that cooked up and cashed in on the phony financial boom — companies like AIG, Goldman Sachs, Lehman Brothers, JP Morgan Chase, Bank of America and Morgan Stanley — has ever been convicted. Most of these firms were directly involved in elaborate fraud and theft. Lehman Brothers hid billions in loans from its investors. Bank of America lied about billions in bonuses. Goldman Sachs failed to tell clients how it put together the born-to-lose toxic mortgage deals it was selling. What's more, many of these companies had corporate chieftains whose actions cost investors billions — from AIG derivatives chief Joe Cassano, who assured investors they would not lose even 'one dollar' just months before his unit imploded, to the $263 million in compensation that former Lehman chief Dick "The Gorilla" Fuld conveniently failed to disclose. Yet not one of them has faced time behind bars."
A few highlights
Friday, February 18, 2011
Leroy Thomas had a front row seat to a moment that was truly ground breaking. "We were very excited. "It was quite the momentous occasion," Thomas told News Channel 8. He founded American State Bank in 1970. A crowd gathered to witness it's rebirth in it's new home on 38th North Peoria just seven years after it was founded. "It was a source of pride. There was no other institution in the state, financial institution controlled by blacks that in itself was an achievement we thought".
Thomas says he sold his interest in the bank in the 90s, but the bank still operated in the place he built. Until this week, it was still the only remaining black owned financial institution in Tulsa. Now a notice on the front door is directing customers to People's bank.
Edna Brooks worked at American State Bank for 15 years. She retired a few years ago. "They had talked about selling the bank for many years and after a while we just didn't think it was going to happen. I was really shocked that our only bank for the north side, the minority bank was gone," Brooks said. She'd hoped that someone else in the community would come in and to keep the north side location open. "You come so far. We had all of these when they the race riots. We had banks we had stores, everything we needed doctors lawyers, whatever". Now only memories remain. "Very sad. Very sad. An awful lot of work went into that," Thomas said.
There's no official word on what will happen to the current building, but there is some talk the bank could become a church."
Saturday, February 12, 2011
Learn more about new business and professional opportunities that may become available in 29 federal financial agencies like the nine (9) Federal Reserve Banks, the FDIC, etc. On January 22nd, each of the affected federal financial agencies established new offices devoted to ensuring minorities and women businesses are included in contracting opportunities. Moreover, these offices are still staffing up; therefore, professional opportunities also exist. The Dodd-Frank legislation that became law in the summer of 2010 include these provisions. Attend the Thursday, February 17th Chicago Booth Black Alumni Association's evening program event in Washington, DC to learn more!
|Dodd-Frank Provisions for Minority and Women Business & Professional Opportunities |
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