Bank Of America Settles For $335 MILLION - The Worth Of The "Black Intergenerational Wealth" Has Been Appraised

Just as it is the case with the value of a house or a corporate stock - its VALUE is determined not by the "asking price" of the seller but by what an actual consumer is willing to PAY FOR IT.

Like it or not - we just learned the value of the "Black Intergenerational Wealth" that many say was stolen during the "Great Recession" by "banksters".   In truth the news that Bank America and the Obama Administration reached a settlement on the former "Countrywide Mortgage" use of "subprime loans" is an opportunity for all of us "kind Black folks" to appraise the value that Black people place upon the veracity of the claims that are used in political discourse to retain "congregational unity".


Below is my post on The Grio.com in response to their article.  Yes I admit that I like taunting my dear friends - the content contributors over at The Grio.com.   They are so dutiful in their agenda - as a subsidiary of MSNBC, carrying forth the message into our community where Rachael Maddow would not feel comfortable walking by herself.   I figure that if I don't do as Rachael Maddow said in her commercial a few months ago:  "Take all of the loose facts and STITCH THEM ALL TOGETHER" the Black community will surely not see this done by the mainline Black Media sources.

The cost of them serving as a marketing arm for the Obama Administration, the Democratic Party and the Black Racial Services Machine is that too few of them will bother using their past claims about the value of the " most catastrophic attack on the Black Community's Intergenerational Wealth" is merely worth a $335 million fine.

The de facto sentiment of "The Grio.com" would be to market this settlement as PROOF that "Obama/Holder Got The Back Of The Blacks".  Surely this is going to appear on some long bullet point list on "All That Obama Has Done For Black Folks And Why He Is Worthy In 2012".

As I stitch together the previous claims as heard on "Black Wing Talk Radio" and in various articles which called "The Great Recession" the largest theft of "Black Intergerational Wealth" it stands to reason that, if true, the fine should be larger than what the Black Farmers received in a payout ($2B).    By using what I call "The Proportionality Filter" I am forcing the voices of propaganda that is trained upon the Black community to EXPLAIN ITSELF.

Why aren't then going to Attorney General Eric Holder's office to protest and reject this settlement as too small?  From my perspective the very credibility of their past words and their present actions are under scrutiny based upon how they are inclined to (dutifully) accept this press release, attaching it to their own election year propaganda that is seen in most of their articles.





My Post on The Grio.com

Wait, wait wait.
(Ms Reid , Ms Maxwell or Mr Williams - did you post this?)
Lets talk about what is ABSENT in the article and the analysis that will surely be seen on this site and others like it.
IF "The Subprime Lending Scheme" was the LARGEST TRANSFER OF WEALTH OUT OF THE HANDS OF BLACK PEOPLE IN HISTORY...................................WHY is The Grio trumpeting this settlement rather than REJECTING it as TOO SMALL?
Ms Reid - please hear me out (you too Mr Love) - with all due respect to both of you.
The "Black Farmer's Settlement" was $2 BILLION to settle all claims that Black own farms were lost because they were not able to obtain sufficient financing - as was offered to WHITE FOLKS in the same situation where they needed  "last chance credit".    This $2B was a means of making them whole.
The foundation of my argument is that YOU - the Black Progressive Press (and Radio) told US - the CONSUMERS of your messages that this "Great Recession" which attacked Black people by attacking our HOUSING - was the most substantial loss of our "Intergenrational Wealth".
Do you see that I have the integrity of your claims on trial?  (Yes this is my agenda).
Either you all were claiming this in order to rile up the people OR since it is true you should REJECT the settlement made on the behalf of Black home mortgage holders as HOLDER HAS SOLD YOU OUT for mere pennies on the dollar.   Despite this fact - I have a strong suspicion that Mr Williams, Mr Arceneaux, Ms Taylor, or Ms Maxwell are going to use this news to make the case that the US Justice Department GOT OUR BACK.
If we tie all of these points of fact together and focus on PROPORTIONALITIES and not PROPAGANDA - Why wouldn't you publicly reject this as a deal that was TOO COMFORTABLE as it shows that some bank in the future only will receive a $400 million "slap on the wrist" when they were charged by the Prevailing Black Political Discourse for STEALING THE BLACK AMERICAN DREAM?
Is your dream only worth $400 Million?