America 1982-Chapter 595 - 130: Do Black Lives Matter?
"When we define the New York Mafia’s usury as a quite serious crime, the interest rates that KeyBank charges low-income people are five times that of the New York Mafia."
"And what’s worse is that once customers are lured in, they can never escape until death. I don’t know how they managed to design such a cruel mechanism, a joint liability mechanism, where groups of five black people, if one can’t repay on time, the others will have their funds frozen. To unfreeze the funds, either the defaulting group member has to repay, or the others have to shoulder the loan. This essentially forces KeyBank’s borrowers to become its debt collectors for free. Generally, among groups of five black customers, there will just happen to be two gang members, ensuring that the other three dare not default."
"KeyBank calls their usury ’micro-urban entrepreneur loans,’ primarily aimed at supporting low-income groups whose credit was destroyed by the credit card issuance frenzy, promising them a chance to turn their lives around. But in reality, they rarely lend to other racial groups and mainly target the lower-class black community. Their reach currently spans California, Texas, Washington, Massachusetts, New Hampshire, Nevada, Florida, even Indiana."
"Perhaps some of you might think that low-income blacks, once they receive a loan, will do as they did during the credit card issuance frenzy—overspend, consume, and then default and disappear. No, no, no! KeyBank changed the game. Just as ticks are always found near deer, in the main cities of the aforementioned states, within two hundred meters of a KeyBank sign, you can definitely find a community youth entrepreneurship support center. Get what I mean? There’s someone specifically responsible for teaching those low-income blacks how to manage their subsequent loan funds. KeyBank will not admit any affiliation with such youth entrepreneurship support centers, but the reality is that the person in charge is always closely connected to KeyBank’s local officials, we just can’t find any evidence of their connection."
"We hired a local black youth to try to participate in the loan process and understand the whole procedure. Getting a loan was very, very easy—fill out the information, prove the identity, then form a group of five for joint liability, attend a meeting; the whole process took about forty minutes. And then he got fifty or a hundred bucks. If your information is good, you could even get more. Initially, everything was so smooth that we almost had the illusion that KeyBank was a charitable organization, not caring whether the borrower could repay the loan."
"But the nightmare’s second act quickly began. The entrepreneurial support center: when you received the loan, you attended a KeyBank meeting and agreed to a clause that you must compulsorily attend the local community’s entrepreneurial support center coaching course. You can ignore the coaching advice and insist on what you want to do with the loan, but you must attend the class when you get the first loan, for three consecutive days, one hour each day. If you refuse, you will not get the loan, and KeyBank can also declare you in default and take back your loan."
"The entrepreneurial center won’t encourage them to do bad things, and it gives a bunch of ideas, such as handcrafting, family snack workshops, recycling operations, and wholesale of small commodities—legitimate options. But in reality, if you join the entrepreneurial center, you will immediately be tempted by another group of classmates, who are likely to be local black gang members. They will tempt you, the owner of the loan, to take out the money as capital to invest in their illegal criminal activities. In return, they give you a share of the earnings. Or more boldly, they tell you how to be a street cannabis distributor, helping you to explore the market while they supply the goods. In short, they do everything possible to get you to use the money from KeyBank in high-profit, high-risk business ventures."
"A young black father with four children, under such loan pressure that’s more outrageous than usury, it’s obvious what choice he is going to make. Virtually no one can resist this temptation. And don’t think those gang member classmates are all black tough guys; no, they’re black beauties. Young black men from the lower class are already entranced just by seeing them, easily influenced to expand the drug market."
"KeyBank doesn’t get its hands dirty with those high-risk high-profit dirty money directly; instead, they use the hands of blacks. So, when the police catch the blacks, they can’t pin the responsibility on KeyBank, but KeyBank can still send the bill to those who have ended up in jail."
"The most outrageous thing about the entrepreneurial center is that it even fucking offers a free tax education course to us blacks. When I walked into the classroom with my fifty bucks, I was stunned. WTF!"
"They teach people how to perfect their tax returns, preaching that paying taxes is a sacred duty of citizenship. You think that dirty money is going to be deposited ostentatiously into KeyBank? No, you have no idea how the money gets cleaned. Undoubtedly, it’s the entrepreneurial center that must be teaching the blacks."
"KeyBank offers a higher deposit interest rate to customers who make money from entrepreneurial loans, to retain them depositing the money in their bank. Once the money is in, getting it out is probably just a bit harder than the customer being elected President of the United States. Customers, in KeyBank’s eyes, are not assets; they are fucking consumables, with no concern for long-term efficiency. My experience is just like this: I’m going to drain your blood, and then you can go die because there are plenty of blacks to take your place."
"Look at this document: Stanley Jack, Compton Community College’s Youth Entrepreneurship Center counselor and advisor, one of the three Jack brothers, known as the ’Big Jack Brothers.’ He’s the middle child of the Jack family, and also the leader of Compton’s street gang, the Compton Executioners. As a gang leader, Stanley Jack still serves as an honorary counselor against campus gangs at Compton’s Martin Luther King High School and has been awarded ’Outstanding Black Social Activist’ by the NAACP California Chapter. This is simply black humor."
