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The title is misleading at best. He wants the banks to invest in his buildings. Which they don't want to because they don't see it as profitable. "You don't wa
by trabant00 6y ago
The title is misleading at best. He wants the banks to invest in his buildings. Which they don't want to because they don't see it as profitable.
"You don't want to give me money? RACISM!" - USA 2020
- tantalor 6y agoWhat point are you trying to make? The article makes it pretty clear: It didn't happen and Mr Rice believes the fact that Ensley is a black neighbourhood was the main factor, especially after being asked questions about the "demographics of Ensley".
- jaclaz 6y agoYep. The point is - as I see it - a little different, the valuation is lower (or in this specific case next to nothing) because the bank does not want to invest in a black neighborhood (racism) or because the bank has historical data saying that black neighborhoods (in general or that particular one) have lower value (pragmatism)?
- JshWright 6y agoYou see how both of those are actually "racism", right?
- DoofusOfDeath 6y ago> You see how both of those are actually "racism", right? I suspect you and GP are using subtly different definitions of "racism".
- jaclaz 6y agoThe point is who exactly is racist. The bank that reads the data or the environment that over the years created the conditions for the data (values) to be so low? Or maybe the unknown people that compiled (or even forged) the data? Let's for the sake of discussion bring it to a different form of discrimination (ageism). Here (EU) in most countries you can have your driving license at 18 years. When you go to an insurance company and you are younger than 21 or in some cases 25 years you will pay a much higher insurance rate for your car then if you are (say) 40. Same goes for renting a car, you simply cannot rent one if below 21 or in some cases 25 years. Now, the bad, bad, insurance and rent a car companies may be populated by bastards, or maybe for some reasons drivers below 21 or 25 years actually have an increased risk of accidents.
- Traster 6y agoHe doesn't want them to invest, he wants a collateralized loan.
- tomcam 6y agoUnfortunately those cool old buildings are horrible collateral. If he fails the bank simply cannot recover its costs. And he will fail because if the buildings can even be legally rehabbed it will take years and at least a million dollars or so just to get the doors open.
- kiplkipl 6y agoThat's not a quote.