Tags Small Business Administration
Tag: Small Business Administration
The Consumer Financial Protection Bureau was created five years ago by the Dodd-Frank financial reform law to be a “cop on the beat” to protect consumers in their dealings with banks, credit card companies and other financial firms. The CFPB clearly takes its job seriously. Some members of Congress who take their marching orders from Wall Street have been trying to weaken CFPB ever since it was created, but happily they haven’t succeeded.
The history of technology in the United States is inextricably related to Negro labor and business conditions. During the 18th and 19th centuries, the country was characterized by its rural and agricultural nature. With the advent of mass production, a steady and inexorable shift occurred, resulting in an urban, industrial society with many people leaving Eastern and Southern farms and towns and migrating to Northern and Western cities.
All the ingredients of human bondage and denigration which characterize Anglo treatment of minority peoples in the United States are also present in Oakland, California. A study of Oakland’s socio-economic situation demonstrates, as the Kerner Report and many other similar queries have done throughout the country, that the poor are cut off dramatically from the middle and upper classes.
In November 2010, Joe Debro sent the Bay View a 200-page “book” he wrote in 1968 on racism in construction. His family has generously agreed that it be published in the Bay View. To begin, here is the prolog he wrote in 2010 to update it. In 1968, three of us undertook a study of the manpower implications of small business financing. In 2010, 42 years later, not much has changed.
When the leaders of the National Bankers Association, an organization of 37 mostly Black-owned banks, began pondering prospective recipients of their annual “Beyond the Call of Duty Award,” its president says they did not have to look very far. No question, it was Marie Johns, deputy administrator of the U. S. Small Business Administration, he said.
The nation has lost one of its unsung civil rights heroes: Ray Dones was the Martin Luther King of the construction industry. We lost Ray at a time when his kind of leadership is most needed. We all recognize now that the best way to fight violent crime is with a well paying job.
Foreclosures have drained $350 billion in assets from communities of color and Small Business Administration lending to minority-owned businesses has cratered, contributing to a growing racial wealth gap. For every dollar of wealth owned by a white family, an African American or Latino family owns just 16 cents.