Modern day systemic racism, does it exist?

[essentialsaltes]

Was it a policy of discriminating against people who live in high crime/low income neighborhoods regardless of race; but just so happen to be mostly black or hispanic?

No. I live in View Park Windsor Hills: "one of the wealthiest primarily African-American neighborhoods in the United States.[3] The two neighborhoods are part of a band of neighborhoods, from Culver City's Fox Hills district on the west to the Los Angeles neighborhood of Leimert Park on the east, that comprise the single largest and one of the wealthiest and geographically contiguous historically black communities in the western United States."

The nearest City National branch to me is about 1.5 miles away. That is the one branch opened in the last 20 years that's in a predominantly nonwhite part of town. That is the one branch that does not have any mortgage loan officers. You cannot obtain a home loan there.

The next nearest branches are in Beverly Hills (6.6 miles) and downtown LA (7.8 miles).

Was it a policy of specific banks?

Yes, as previously mentioned, it was City National Bank, a bank headquartered in Los Angeles. I don't think you are sincerely interested in the answers to all these questions you're suddenly posing. You're just sealioning.

 

[rjs330]

No. I live in View Park Windsor Hills: "one of the wealthiest primarily African-American neighborhoods in the United States.[3] The two neighborhoods are part of a band of neighborhoods, from Culver City's Fox Hills district on the west to the Los Angeles neighborhood of Leimert Park on the east, that comprise the single largest and one of the wealthiest and geographically contiguous historically black communities in the western United States."

The nearest City National branch to me is about 1.5 miles away. That is the one branch opened in the last 20 years that's in a predominantly nonwhite part of town. That is the one branch that does not have any mortgage loan officers. You cannot obtain a home loan there.

The next nearest branches are in Beverly Hills (6.6 miles) and downtown LA (7.8 miles).



Yes, as previously mentioned, it was City National Bank, a bank headquartered in Los Angeles. I don't think you are sincerely interested in the answers to all these questions you're suddenly posing. You're just sealioning.

Will those other branches loan money to black people?

 

[essentialsaltes]

Will those other branches loan money to black people?

As a result of the consent order, that branch will now offer loans to my neighborhood. And the bank will open another branch in an area it is currently underserving.

 

[RDKirk]

As a result of the consent order, that branch will now offer loans to my neighborhood. And the bank will open another branch in an area it is currently underserving.

The question is: Will a loan officer in your branch wind up being like a Maytag repairman?

Was City National leaving money on the table, or were they avoiding losses?

 

[Pommer]

It was probably the path of least profit.

Back in the 30, General Motors refused to sell Cadillacs to well-to-do black people because they didn't want the brand associated with "Negroes." But wealthy black people were enamored of the brand to such an extent that they paid white men extra money to buy Cadillacs for them...so much so that the Cadillac brand became associated with black people anyway.

That's racism...when companies leave money on the table because it's black.

I'd like to see if that's what was happening here...were these companies eschewing profit the way General Motors did or avoiding losses?

A fellow told me that (back-in-the-day) black middle-class men would purchase a Cadillac because they had the money from their good-paying factory jobs but could never get a loan to purchase a home. The reasoning was “if they won’t let me get a nice house, at least I’ll be able to have a better car than any of them* have!”

*their white peers

 

[RDKirk]

A fellow told me that (back-in-the-day) black middle-class men would purchase a Cadillac because they had the money from their good-paying factory jobs but could never get a loan to purchase a home. The reasoning was “if they won’t let me get a nice house, at least I’ll be able to have a better car than any of them* have!”

*their white peers

That was a factor in why they wanted Cadillacs, but my point is that General Motors didn't want to sell them Cadillacs.

Ford had a wildly different perspective. For all Ford's antisemitism, the Ford Motor Company was fair with black people in hiring, pay, and even promoting black dealerships.

 

[Pommer]

That was a factor in why they wanted Cadillacs, but my point is that General Motors didn't want to sell them Cadillacs.

Ford had a wildly different perspective. For all Ford's antisemitism, the Ford Motor Company was fair with black people in hiring, pay, and even promoting black dealerships.

The television series Mad Men had a subplot that explored the Admiral Televisions (that, in the storyline), were a big hit in “Negro” neighborhoods, and that the company was trying to steer away from these customers for the exact reasons you’ve stated that GM didn’t want to sell Cadillacs to black people.

I do not recall if this was an actual historical fact and now have some winter reading to do.

 

[RDKirk]

The television series Mad Men had a subplot that explored the Admiral Televisions (that, in the storyline), were a big hit in “Negro” neighborhoods, and that the company was trying to steer away from these customers for the exact reasons you’ve stated that GM didn’t want to sell Cadillacs to black people.

I do not recall if this was an actual historical fact and now have some winter reading to do.

The Civil Rights Act provided "cover" for companies to openly sell--even advertise--to black people without being identified by whites as being "for Negroes."

 

[rjs330]

As a result of the consent order, that branch will now offer loans to my neighborhood. And the bank will open another branch in an area it is currently underserving.

That doesn't answer the question. We now forcing businesses to HAVE to operate a certain way and the branches all to HAVE to offer the same services even when you could go down the street and get the service from the same company?

This is just too much. I would totally understand if the bank had policies or regulations that said they can't loan to blacks or Hispanics, but that's not what happened here.

 

[essentialsaltes]

We now forcing businesses

They could have gone to trial and mounted a defense that their practices were legal, but they chose to make these changes to their policies and fork over the millions.

 

[rjs330]

They could have gone to trial and mounted a defense that their practices were legal, but they chose to make these changes to their policies and fork over the millions.

Yup businesses make choices. It wasn't worth it to them.

 

[Ken-1122]

No. I live in View Park Windsor Hills: "one of the wealthiest primarily African-American neighborhoods in the United States.[3] The two neighborhoods are part of a band of neighborhoods, from Culver City's Fox Hills district on the west to the Los Angeles neighborhood of Leimert Park on the east, that comprise the single largest and one of the wealthiest and geographically contiguous historically black communities in the western United States."

The nearest City National branch to me is about 1.5 miles away. That is the one branch opened in the last 20 years that's in a predominantly nonwhite part of town. That is the one branch that does not have any mortgage loan officers. You cannot obtain a home loan there.

The next nearest branches are in Beverly Hills (6.6 miles) and downtown LA (7.8 miles).

Okay; so they built one in your neighborhood. My question was concerning the neighborhoods they did not build in.

 

[essentialsaltes]

Okay; so they built one in your neighborhood.

One where you cannot obtain a loan.

 

[RDKirk]

One where you cannot obtain a loan.

Was that really the case?

Now that I think about it, we have Chase branches around the suburbs north of Dallas that don't all have continuous full services--like loan officers--in every branch. Some branches don't do that much business, and I'm talking about in towns that have been reputed as "best places to live in the US."

 

[Ken-1122]

One where you cannot obtain a loan.

When you get a loan, you go to every bank in the county to get the best rate anyway, so what difference does it make if one doesn't have a loan officer? You still gotta check all the others; right? And half the banks don't have a loan officer on staff, so what difference does it make if the one near your house is one of the branches that doesn't have one?

 

[Ken-1122]

No. I live in View Park Windsor Hills: "one of the wealthiest primarily African-American neighborhoods in the United States.[3] The two neighborhoods are part of a band of neighborhoods, from Culver City's Fox Hills district on the west to the Los Angeles neighborhood of Leimert Park on the east, that comprise the single largest and one of the wealthiest and geographically contiguous historically black communities in the western United States."

I've heard of such neighborhoods but have never seen one. Curious; what is it that keeps white people, asians, or other races from moving into such a neighborhood?

 

[Pommer]

That doesn't answer the question. We now forcing businesses to HAVE to operate a certain way and the branches all to HAVE to offer the same services even when you could go down the street and get the service from the same company?

This is just too much. I would totally understand if the bank had policies or regulations that said they can't loan to blacks or Hispanics, but that's not what happened here.

Why should it be up to the bank where to put “full service” banks?
We need banks to have equal services in each community as far as is possible because if they don’t, that’s “unequal treatment” which leads to less choice for black borrowers. Less choice the higher the interest rate is because that’s “how it works”.

 

[Pommer]

I've heard of such neighborhoods but have never seen one. Curious; what is it that keeps white people, asians, or other races from moving into such a neighborhood?

“Assimilation” is so 1950s.
What’s “wrong” with a predominantly black wealthy neighborhood existing?

 

[Ken-1122]

“Assimilation” is so 1950s.

No; there is far more assimilation today than there was in the 1950's.

What’s “wrong” with a predominantly black wealthy neighborhood existing?

Who said there was anything wrong with it? I'm asking how is it possible?

 

[Ken-1122]

Why should it be up to the bank where to put “full service” banks?

Because the banks are the ones who have to suffer the consequences of failure. Now if the City agrees to make sure the bank makes money, then they should be able to dictate how they do business

We need banks to have equal services in each community as far as is possible because if they don’t, that’s “unequal treatment”

But if there is a lot of crime in some areas, and the city is not always able to provide protection for business. Look what happened to business during the BLM/ANTIFA riots a few years ago; I would not want to do business in a place where at any moment, a cop kills the wrong guy a thousand miles away,; unrelated to you or the city you live in; and because of that, your city allows a mob of vandals to destroy your business without consequence. I wouldn’t wanna do business in an environment like that; would you?

which leads to less choice for black borrowers. Less choice the higher the interest rate is because that’s “how it works”.

No it doesn’t work that way. Nobody goes to 1 bank, ask for a loan and take the first number the loan officer puts in front of them, (would you do that when buying a used car?) No! You go to every bank in town, in order to negotiate the best loan possible. Just because there is no bank in your neighborhood does not mean you have less choice than someone with a bank near where they live