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Title: Bank of America's Equity: Racial Discrimination, Elitism, Fraud, and Bad Business
Source: RCP
URL Source: https://www.realclearmarkets.com/ar ... d_and_bad_business_852101.html
Published: Sep 8, 2022
Author: Scott Shepard
Post Date: 2022-09-08 21:19:18 by tankumo
Keywords: None
Views: 158

Bank of America (BoA)’s newest racially discriminatory program provides a casebook study in what “equity” is really about – racial discrimination perpetrated by billionaires against poor white people to atone on the backs of others for the fact that they are very, very rich, while too few non-white people are equally rich.

In other words, making other, poorer people pay their racial-guilt debts. But given that this is BoA, one of the largest too-big-to-fail banks, this shouldn’t surprise. After all, what it means to be too-big-to-fail is that CEO Brian Moynihan and his C-suite cohort keep their winnings when BoA succeeds, but push their losses onto us much poorer taxpayers when it fails. Making other, poorer people cover their losses is pretty much the mission statement over there.

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