Julian Robinson describes the motivation of activists behind Public Bank NYC:
“I think most people are aware of the consequences of the financial system. … We’ve seen companies like Wells Fargo commit widespread fraud and maintain most of its business. We’ve seen government bailout banks despite having caused the financial crisis. … And in a place like New York City that’s both home to many communities of color, many immigrant communities, many low income communities AND these mega banks that routinely extract money from those neighborhoods, the consequences are really present. … We see these consequences. We see this financial system. It exists by design. None of these consequences are by accident. They’re the result of a system that’s designed and controlled by these mega banks — these Wall Street banks — to extract the most wealth that they can.”
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