Just because you refuse to acknowledge the points we have made does not mean you know everything. You couldn't even think of the banking alternatives.Animal wrote: ↑Fri Jan 15, 2021 1:10 amno, but these bandstanding idiots wouldn't have any idea. they are preaching on a subject they have absolutely no fucking experience with. its always that invisible cloud of systemic racism though. no way to describe it exactly. just something that is there and we are all supposed to know it.
I guess White small business owners don't matter
Moderator: Biker
- Burn1dwn
- Non-Gay Omar
- Posts: 3735
- Joined: Mon Jan 07, 2019 7:23 pm
Re: I guess White small business owners don't matter
-
- Not UJR's Military Attaché
- Posts: 6741
- Joined: Sun Jan 06, 2019 11:30 pm
- Location: South Carolina
Re: I guess White small business owners don't matter
You've asserted points not made them.Burn1dwn wrote: ↑Fri Jan 15, 2021 1:12 amJust because you refuse to acknowledge the points we have made does not mean you know everything. You couldn't even think of the banking alternatives.Animal wrote: ↑Fri Jan 15, 2021 1:10 amno, but these bandstanding idiots wouldn't have any idea. they are preaching on a subject they have absolutely no fucking experience with. its always that invisible cloud of systemic racism though. no way to describe it exactly. just something that is there and we are all supposed to know it.
- Cassandros
- Hamsterphile
- Posts: 2025
- Joined: Sat Jan 19, 2019 11:38 pm
Re: I guess White small business owners don't matter
I'm not going through 7 pages, so sorry if you have to repeat yourself.Burn1dwn wrote: ↑Fri Jan 15, 2021 1:12 amJust because you refuse to acknowledge the points we have made does not mean you know everything. You couldn't even think of the banking alternatives.Animal wrote: ↑Fri Jan 15, 2021 1:10 amno, but these bandstanding idiots wouldn't have any idea. they are preaching on a subject they have absolutely no fucking experience with. its always that invisible cloud of systemic racism though. no way to describe it exactly. just something that is there and we are all supposed to know it.
But, how can race be a factor when race isn't even on the application?
“The society that puts equality before freedom will end up with neither, the society that puts freedom before equality will end up with a great deal of both.” --Milton Friedman
- Animal
- The Great Pretender
- Posts: 28039
- Joined: Mon Jan 21, 2019 11:18 pm
Re: I guess White small business owners don't matter
please name one specific point that was brought up. thanks.Burn1dwn wrote: ↑Fri Jan 15, 2021 1:12 amJust because you refuse to acknowledge the points we have made does not mean you know everything. You couldn't even think of the banking alternatives.Animal wrote: ↑Fri Jan 15, 2021 1:10 amno, but these bandstanding idiots wouldn't have any idea. they are preaching on a subject they have absolutely no fucking experience with. its always that invisible cloud of systemic racism though. no way to describe it exactly. just something that is there and we are all supposed to know it.
- Animal
- The Great Pretender
- Posts: 28039
- Joined: Mon Jan 21, 2019 11:18 pm
Re: I guess White small business owners don't matter
it can't. especially during covid when you can't even physically walk into a bank. but these soccer moms think their insight into a topic they know nothing about means something.Cassandros wrote: ↑Fri Jan 15, 2021 1:17 amI'm not going through 7 pages, so sorry if you have to repeat yourself.Burn1dwn wrote: ↑Fri Jan 15, 2021 1:12 amJust because you refuse to acknowledge the points we have made does not mean you know everything. You couldn't even think of the banking alternatives.Animal wrote: ↑Fri Jan 15, 2021 1:10 amno, but these bandstanding idiots wouldn't have any idea. they are preaching on a subject they have absolutely no fucking experience with. its always that invisible cloud of systemic racism though. no way to describe it exactly. just something that is there and we are all supposed to know it.
But, how can race be a factor when race isn't even on the application?
- Burn1dwn
- Non-Gay Omar
- Posts: 3735
- Joined: Mon Jan 07, 2019 7:23 pm
Re: I guess White small business owners don't matter
And the people that have businesses set up that never requires them to walk into banks, were ineligible from the program in the beginning.Animal wrote: ↑Fri Jan 15, 2021 1:31 amit can't. especially during covid when you can't even physically walk into a bank. but these soccer moms think their insight into a topic they know nothing about means something.Cassandros wrote: ↑Fri Jan 15, 2021 1:17 amI'm not going through 7 pages, so sorry if you have to repeat yourself.Burn1dwn wrote: ↑Fri Jan 15, 2021 1:12 amJust because you refuse to acknowledge the points we have made does not mean you know everything. You couldn't even think of the banking alternatives.Animal wrote: ↑Fri Jan 15, 2021 1:10 amno, but these bandstanding idiots wouldn't have any idea. they are preaching on a subject they have absolutely no fucking experience with. its always that invisible cloud of systemic racism though. no way to describe it exactly. just something that is there and we are all supposed to know it.
But, how can race be a factor when race isn't even on the application?
- Animal
- The Great Pretender
- Posts: 28039
- Joined: Mon Jan 21, 2019 11:18 pm
Re: I guess White small business owners don't matter
not because of race you stupid fuck. i was in that same boat. cheesy was in that boat. divertexas was in that boat. everyone i knew was in that boat. they still did what i did and applied when things opened up to where everyone that qualified could.Burn1dwn wrote: ↑Fri Jan 15, 2021 2:04 amAnd the people that have businesses set up that never requires them to walk into banks, were ineligible from the program in the beginning.Animal wrote: ↑Fri Jan 15, 2021 1:31 amit can't. especially during covid when you can't even physically walk into a bank. but these soccer moms think their insight into a topic they know nothing about means something.Cassandros wrote: ↑Fri Jan 15, 2021 1:17 amI'm not going through 7 pages, so sorry if you have to repeat yourself.Burn1dwn wrote: ↑Fri Jan 15, 2021 1:12 amJust because you refuse to acknowledge the points we have made does not mean you know everything. You couldn't even think of the banking alternatives.Animal wrote: ↑Fri Jan 15, 2021 1:10 amno, but these bandstanding idiots wouldn't have any idea. they are preaching on a subject they have absolutely no fucking experience with. its always that invisible cloud of systemic racism though. no way to describe it exactly. just something that is there and we are all supposed to know it.
But, how can race be a factor when race isn't even on the application?
- Burn1dwn
- Non-Gay Omar
- Posts: 3735
- Joined: Mon Jan 07, 2019 7:23 pm
Re: I guess White small business owners don't matter
I am legitimately embarrassed I am taking you serious. Do mexicans really listen to you? Or are the kind of boss they wait for to leave to get the job done right.Animal wrote: ↑Fri Jan 15, 2021 2:07 amnot because of race you stupid fuck. i was in that same boat. cheesy was in that boat. divertexas was in that boat. everyone i knew was in that boat. they still did what i did and applied when things opened up to where everyone that qualified could.Burn1dwn wrote: ↑Fri Jan 15, 2021 2:04 amAnd the people that have businesses set up that never requires them to walk into banks, were ineligible from the program in the beginning.Animal wrote: ↑Fri Jan 15, 2021 1:31 amit can't. especially during covid when you can't even physically walk into a bank. but these soccer moms think their insight into a topic they know nothing about means something.Cassandros wrote: ↑Fri Jan 15, 2021 1:17 amI'm not going through 7 pages, so sorry if you have to repeat yourself.Burn1dwn wrote: ↑Fri Jan 15, 2021 1:12 amJust because you refuse to acknowledge the points we have made does not mean you know everything. You couldn't even think of the banking alternatives.Animal wrote: ↑Fri Jan 15, 2021 1:10 am
no, but these bandstanding idiots wouldn't have any idea. they are preaching on a subject they have absolutely no fucking experience with. its always that invisible cloud of systemic racism though. no way to describe it exactly. just something that is there and we are all supposed to know it.
But, how can race be a factor when race isn't even on the application?
Not that you will read this but...
https://www.businessinsider.com/ppp-loa ... 20-7%3famp
Unintentional (systematic) Racism is the point AH and I and Spudoc have all pointed out to you that you refuse to acknowledge.
- Animal
- The Great Pretender
- Posts: 28039
- Joined: Mon Jan 21, 2019 11:18 pm
Re: I guess White small business owners don't matter
Whoops!Burn1dwn wrote: ↑Fri Jan 15, 2021 2:22 amI am legitimately embarrassed I am taking you serious. Do mexicans really listen to you? Or are the kind of boss they wait for to leave to get the job done right.
Not that you will read this but...
https://www.businessinsider.com/ppp-loa ... 20-7%3famp
Unintentional (systematic) Racism is the point AH and I and Spudoc have all pointed out to you that you refuse to acknowledge.
Something went wrong.
(404 page not found)
The page you are trying to reach cannot be found.
In the meantime feel free to search or check out the articles below.
Great link. Thanks for that.
Are you the kind of employee that a boss repeatedly asks a simple question and you just stammer around about how you know the answer but you won't give it?
Give an example of this systemic racism that you allege the banks commit. Just ONE fucking example.
- CHEEZY17
- Libertarian house cat
- Posts: 14908
- Joined: Mon Jan 07, 2019 8:25 pm
Re: I guess White small business owners don't matter
I agree that is/was a problem but it isnt racist.Burn1dwn wrote: ↑Fri Jan 15, 2021 2:04 amAnd the people that have businesses set up that never requires them to walk into banks, were ineligible from the program in the beginning.Animal wrote: ↑Fri Jan 15, 2021 1:31 amit can't. especially during covid when you can't even physically walk into a bank. but these soccer moms think their insight into a topic they know nothing about means something.Cassandros wrote: ↑Fri Jan 15, 2021 1:17 amI'm not going through 7 pages, so sorry if you have to repeat yourself.Burn1dwn wrote: ↑Fri Jan 15, 2021 1:12 amJust because you refuse to acknowledge the points we have made does not mean you know everything. You couldn't even think of the banking alternatives.Animal wrote: ↑Fri Jan 15, 2021 1:10 amno, but these bandstanding idiots wouldn't have any idea. they are preaching on a subject they have absolutely no fucking experience with. its always that invisible cloud of systemic racism though. no way to describe it exactly. just something that is there and we are all supposed to know it.
But, how can race be a factor when race isn't even on the application?
"When governments fear the people, there is liberty. When the people fear the government, there is tyranny."
- Burn1dwn
- Non-Gay Omar
- Posts: 3735
- Joined: Mon Jan 07, 2019 7:23 pm
Re: I guess White small business owners don't matter
I am an independent contractor (wasn't eligible for ppp until they got rid of the employee rule but didn't need it, knocking on wood) but you would have loved me when I used to be a $15 an hour laborer. I was a hard as worker, kept my mouth shut and was not afraid to get dirty. Plus I am great at taking initiative and finding something to do. I am part Central American though so you would probably keep a shovel in my hand.Animal wrote: ↑Fri Jan 15, 2021 2:27 amWhoops!Burn1dwn wrote: ↑Fri Jan 15, 2021 2:22 amI am legitimately embarrassed I am taking you serious. Do mexicans really listen to you? Or are the kind of boss they wait for to leave to get the job done right.
Not that you will read this but...
https://www.businessinsider.com/ppp-loa ... 20-7%3famp
Unintentional (systematic) Racism is the point AH and I and Spudoc have all pointed out to you that you refuse to acknowledge.
Something went wrong.
(404 page not found)
The page you are trying to reach cannot be found.
In the meantime feel free to search or check out the articles below.
Great link. Thanks for that.
Are you the kind of employee that a boss repeatedly asks a simple question and you just stammer around about how you know the answer but you won't give it?
Give an example of this systemic racism that you allege the banks commit. Just ONE fucking example.
Try this link.
https://ncrc.org/despite-gaping-holes-i ... imination/
-
- Not UJR's Military Attaché
- Posts: 6741
- Joined: Sun Jan 06, 2019 11:30 pm
- Location: South Carolina
Re: I guess White small business owners don't matter
First paragraph says that PPP is messed up nearly beyond definition. Second paragraph says “testers” had problems. How was test bias controlled?Burn1dwn wrote: ↑Fri Jan 15, 2021 2:37 amI am an independent contractor (wasn't eligible for ppp until they got rid of the employee rule but didn't need it, knocking on wood) but you would have loved me when I used to be a $15 an hour laborer. I was a hard as worker, kept my mouth shut and was not afraid to get dirty. Plus I am great at taking initiative and finding something to do. I am part Central American though so you would probably keep a shovel in my hand.Animal wrote: ↑Fri Jan 15, 2021 2:27 amWhoops!Burn1dwn wrote: ↑Fri Jan 15, 2021 2:22 amI am legitimately embarrassed I am taking you serious. Do mexicans really listen to you? Or are the kind of boss they wait for to leave to get the job done right.
Not that you will read this but...
https://www.businessinsider.com/ppp-loa ... 20-7%3famp
Unintentional (systematic) Racism is the point AH and I and Spudoc have all pointed out to you that you refuse to acknowledge.
Something went wrong.
(404 page not found)
The page you are trying to reach cannot be found.
In the meantime feel free to search or check out the articles below.
Great link. Thanks for that.
Are you the kind of employee that a boss repeatedly asks a simple question and you just stammer around about how you know the answer but you won't give it?
Give an example of this systemic racism that you allege the banks commit. Just ONE fucking example.
Try this link.
https://ncrc.org/despite-gaping-holes-i ... imination/
- Animal
- The Great Pretender
- Posts: 28039
- Joined: Mon Jan 21, 2019 11:18 pm
Re: I guess White small business owners don't matter
And, not surprisingly, your linked story doesn't point out one single example other than to just use the general term that racism existed. If you really read it, it read like propoganda that is trying to make a point without any data to make the point. They talk about the governemtn PPP program not providing them enough data in order to make socialogical conclusions. The gov't didn't provide it because the loans didn't ask about race. there was no data to collect with reference of race. there was no smoking gun to report.Burn1dwn wrote: ↑Fri Jan 15, 2021 2:37 am Try this link.
https://ncrc.org/despite-gaping-holes-i ... imination/
Cut and paste one or two sentences from that article that actually provide a good solid example of a specific finding of racism that they found.
- Burn1dwn
- Non-Gay Omar
- Posts: 3735
- Joined: Mon Jan 07, 2019 7:23 pm
Re: I guess White small business owners don't matter
It wasn't intentionally racist but it is well known in the financial industry that minorities (especially hispanics) use fintech because they don't have banks fighting for their business. Is PPP a racist program? No. The hispanics were not excluded by the program because of their race, they were excluded by the system because it is set up for the Big Banks and businesses which helped other races more/easier. Just the way it is and all it took was allowing fintech to give loans to help bridge the gap.CHEEZY17 wrote: ↑Fri Jan 15, 2021 2:28 amI agree that is/was a problem but it isnt racist.Burn1dwn wrote: ↑Fri Jan 15, 2021 2:04 amAnd the people that have businesses set up that never requires them to walk into banks, were ineligible from the program in the beginning.Animal wrote: ↑Fri Jan 15, 2021 1:31 amit can't. especially during covid when you can't even physically walk into a bank. but these soccer moms think their insight into a topic they know nothing about means something.Cassandros wrote: ↑Fri Jan 15, 2021 1:17 amI'm not going through 7 pages, so sorry if you have to repeat yourself.Burn1dwn wrote: ↑Fri Jan 15, 2021 1:12 amJust because you refuse to acknowledge the points we have made does not mean you know everything. You couldn't even think of the banking alternatives.Animal wrote: ↑Fri Jan 15, 2021 1:10 am
no, but these bandstanding idiots wouldn't have any idea. they are preaching on a subject they have absolutely no fucking experience with. its always that invisible cloud of systemic racism though. no way to describe it exactly. just something that is there and we are all supposed to know it.
But, how can race be a factor when race isn't even on the application?
Look Biden's quote couldn't have been worse but that doesn't mean there was not a point to it.
- Burn1dwn
- Non-Gay Omar
- Posts: 3735
- Joined: Mon Jan 07, 2019 7:23 pm
Re: I guess White small business owners don't matter
First Paragraph-thank the Treasury Dept for lack of info and transparency.Antknot wrote: ↑Fri Jan 15, 2021 2:46 amFirst paragraph says that PPP is messed up nearly beyond definition. Second paragraph says “testers” had problems. How was test bias controlled?Burn1dwn wrote: ↑Fri Jan 15, 2021 2:37 amI am an independent contractor (wasn't eligible for ppp until they got rid of the employee rule but didn't need it, knocking on wood) but you would have loved me when I used to be a $15 an hour laborer. I was a hard as worker, kept my mouth shut and was not afraid to get dirty. Plus I am great at taking initiative and finding something to do. I am part Central American though so you would probably keep a shovel in my hand.Animal wrote: ↑Fri Jan 15, 2021 2:27 amWhoops!Burn1dwn wrote: ↑Fri Jan 15, 2021 2:22 amI am legitimately embarrassed I am taking you serious. Do mexicans really listen to you? Or are the kind of boss they wait for to leave to get the job done right.
Not that you will read this but...
https://www.businessinsider.com/ppp-loa ... 20-7%3famp
Unintentional (systematic) Racism is the point AH and I and Spudoc have all pointed out to you that you refuse to acknowledge.
Something went wrong.
(404 page not found)
The page you are trying to reach cannot be found.
In the meantime feel free to search or check out the articles below.
Great link. Thanks for that.
Are you the kind of employee that a boss repeatedly asks a simple question and you just stammer around about how you know the answer but you won't give it?
Give an example of this systemic racism that you allege the banks commit. Just ONE fucking example.
Try this link.
https://ncrc.org/despite-gaping-holes-i ... imination/
Second-the studies are all linked and sourced. Feel free to read it.
- Animal
- The Great Pretender
- Posts: 28039
- Joined: Mon Jan 21, 2019 11:18 pm
Re: I guess White small business owners don't matter
it would be neat if one single sentence from anything you guys have posted pointed to a finding that minorities that use paypal to run their business found out that was a problem for getting PPP loans. If that is your connection to accusing banks of being racist, then i don't know what to say.
- Burn1dwn
- Non-Gay Omar
- Posts: 3735
- Joined: Mon Jan 07, 2019 7:23 pm
Re: I guess White small business owners don't matter
Here you go...Animal wrote: ↑Fri Jan 15, 2021 3:01 am it would be neat if one single sentence from anything you guys have posted pointed to a finding that minorities that use paypal to run their business found out that was a problem for getting PPP loans. If that is your connection to accusing banks of being racist, then i don't know what to say.
https://robertsmith.com/we-need-a-finte ... s-recover/
In March, the government passed the Paycheck Protection Program (PPP). While big businesses and those with access to mainstream banking institutions quickly applied for and received PPP loans, Black and Latino business owners were largely shut out. Our weak financial and technology infrastructure is a big reason why.
Many Black and Latino business owners run payroll and keep their financial books on their own. They also rely on what I call the ‘capillary banking system’ — community development financial institutions (CDFIs) and minority-owned depository institutions (MDIs). These institutions go where commercial banks refuse to and provide essential financial services like mortgages, microloans and venture capital for small businesses. However, these organizations typically don’t have the capital of mainstream commercial banks to invest in updating their digital infrastructure to scale their services for something like PPP.
While a majority of Black and Latino business owners reported requesting less than $20,000, they were turned away from commercial branch banks where they didn’t have existing relationships; they struggled to compile the financial data needed to complete the PPP application since many lack financial software; and CDFIs and MDIs were often hamstrung by a lack of robust technology that made it time-consuming and costly for organizations to submit PPP applications. In total, just 12 percent of Black and Latino businesses reported receiving a PPP loan. Overall, two-thirds of Black and Latino businesses report that they’ve received no assistance or are still waiting to hear back.
To help pandemic-hit Black and Latino businesses, we need a fintech revolution. This means ensuring that every single Black and Latino business and every community lender is equipped with robust digital infrastructure to help them better withstand future crises like this and better position small businesses to thrive in good times.
- Cassandros
- Hamsterphile
- Posts: 2025
- Joined: Sat Jan 19, 2019 11:38 pm
Re: I guess White small business owners don't matter
No offense, but this study seems like they were trying to get a result; and not just conducting an unbiased study. (If such a thing even exists anymore).
As such, it wouldn't surprise me that the 'testers' self-sabotaged themselves to drive the results expected.from the study wrote:Testers were only used if their voice was perceived to be racially identifiable above 70%.
We selected profile names after researching names most often perceived with a particular race
“The society that puts equality before freedom will end up with neither, the society that puts freedom before equality will end up with a great deal of both.” --Milton Friedman
- Animal
- The Great Pretender
- Posts: 28039
- Joined: Mon Jan 21, 2019 11:18 pm
Re: I guess White small business owners don't matter
well, finally, after all of these pages someone posted something that has some meat on the bone. I am not aware of CDFIs. I never heard of one and I deal with minority companies all of the time. The only places, other than banks, that I know that they go to are pay day loans and title loans. If they took their account info to a bank and were turned away from a PPP loan because they are a minority, then that would be criminal.Burn1dwn wrote: ↑Fri Jan 15, 2021 3:11 amHere you go...Animal wrote: ↑Fri Jan 15, 2021 3:01 am it would be neat if one single sentence from anything you guys have posted pointed to a finding that minorities that use paypal to run their business found out that was a problem for getting PPP loans. If that is your connection to accusing banks of being racist, then i don't know what to say.
https://robertsmith.com/we-need-a-finte ... s-recover/
In March, the government passed the Paycheck Protection Program (PPP). While big businesses and those with access to mainstream banking institutions quickly applied for and received PPP loans, Black and Latino business owners were largely shut out. Our weak financial and technology infrastructure is a big reason why.
Many Black and Latino business owners run payroll and keep their financial books on their own. They also rely on what I call the ‘capillary banking system’ — community development financial institutions (CDFIs) and minority-owned depository institutions (MDIs). These institutions go where commercial banks refuse to and provide essential financial services like mortgages, microloans and venture capital for small businesses. However, these organizations typically don’t have the capital of mainstream commercial banks to invest in updating their digital infrastructure to scale their services for something like PPP.
While a majority of Black and Latino business owners reported requesting less than $20,000, they were turned away from commercial branch banks where they didn’t have existing relationships; they struggled to compile the financial data needed to complete the PPP application since many lack financial software; and CDFIs and MDIs were often hamstrung by a lack of robust technology that made it time-consuming and costly for organizations to submit PPP applications. In total, just 12 percent of Black and Latino businesses reported receiving a PPP loan. Overall, two-thirds of Black and Latino businesses report that they’ve received no assistance or are still waiting to hear back.
To help pandemic-hit Black and Latino businesses, we need a fintech revolution. This means ensuring that every single Black and Latino business and every community lender is equipped with robust digital infrastructure to help them better withstand future crises like this and better position small businesses to thrive in good times.
- Burn1dwn
- Non-Gay Omar
- Posts: 3735
- Joined: Mon Jan 07, 2019 7:23 pm
Re: I guess White small business owners don't matter
I guess I am your Monkey...
https://www.nbcnews.com/business/busine ... t-n1195291Experts say the differences in access, while not intended by the program's drafters or executors, are the results of social and economic inequities that must be taken into account by policymakers.
"There is a structural flaw in this program. It uses banks as middlemen. Any time you create a big program and give banks the ability to choose which customers it prioritizes, you're going to have disparities," said Mehrsa Baradaran, a law professor at the University of California, Irvine. "Credit disparities are where past injustices lead to present disparities."
- Animal
- The Great Pretender
- Posts: 28039
- Joined: Mon Jan 21, 2019 11:18 pm
Re: I guess White small business owners don't matter
well, thank you for posting that.
-
- Not UJR's Military Attaché
- Posts: 6741
- Joined: Sun Jan 06, 2019 11:30 pm
- Location: South Carolina
Re: I guess White small business owners don't matter
I agree thus my question about test bias.Cassandros wrote: ↑Fri Jan 15, 2021 3:19 am No offense, but this study seems like they were trying to get a result; and not just conducting an unbiased study. (If such a thing even exists anymore).
As such, it wouldn't surprise me that the 'testers' self-sabotaged themselves to drive the results expected.from the study wrote:Testers were only used if their voice was perceived to be racially identifiable above 70%.
We selected profile names after researching names most often perceived with a particular race
- Animal
- The Great Pretender
- Posts: 28039
- Joined: Mon Jan 21, 2019 11:18 pm
Re: I guess White small business owners don't matter
that study seemed highly suspect for a multitude of reasons.Antknot wrote: ↑Fri Jan 15, 2021 4:02 amI agree thus my question about test bias.Cassandros wrote: ↑Fri Jan 15, 2021 3:19 am No offense, but this study seems like they were trying to get a result; and not just conducting an unbiased study. (If such a thing even exists anymore).
As such, it wouldn't surprise me that the 'testers' self-sabotaged themselves to drive the results expected.from the study wrote:Testers were only used if their voice was perceived to be racially identifiable above 70%.
We selected profile names after researching names most often perceived with a particular race
the other one, however, that explained how some minorities handle financial transactions without banks "might" have some merit. It doesn't prove that racism or systemic racism existed, but it would explain why they might have more trouble getting the PPP loan through a bank that they had no account with.
although there are typically 2 reasons why a person running a business wouldn't have a bank account. and those reasons would be more why a person didn't try to apply for PPP money than racism.
- Burn1dwn
- Non-Gay Omar
- Posts: 3735
- Joined: Mon Jan 07, 2019 7:23 pm
Re: I guess White small business owners don't matter
Highly suspect because you guys don't agree with the results? They have multiple years of tests (basically mystery shoppers) and data to back up their positions. You guys have a bunch thoughts.
- Cassandros
- Hamsterphile
- Posts: 2025
- Joined: Sat Jan 19, 2019 11:38 pm
Re: I guess White small business owners don't matter
Multiple years of "Testers were only used if their voice was perceived to be racially identifiable above 70%." and "We selected profile names after researching names most often perceived with a particular race."
Odds are high they went out of their way to not sound 'black' --> but to sound "street".
As a lender, you want to lend to those you feel will be able to pay the debt back.
So, be honest, if you were a bank and you had to choose between the guy who sounds like a business owner and a guy who sounds like he's gangster, who would you choose to lend tens of thousands of dollars to? Same is true for a business owner verse some Appalachian hillbilly named Cleetus. One will get preferential treatment based on the assumption of their ability to manage and repay the debt.
And before you cry "racist" realize its not about "sounding/acting white", its about sounding/acting professional. A difference people who like making broad sweeping claims of systematic institutional racism often swept under the rug.
“The society that puts equality before freedom will end up with neither, the society that puts freedom before equality will end up with a great deal of both.” --Milton Friedman