In the wake of the Black Lives Matter Movement, several major banks made significant investments in Black banks:

With this increased attention, the performance of stocks issued by all minority banks (Asian, Black, Hispanic) have improved dramatically:


Data from two sources show the US economy recovering swiftly. In testimony on June 22, 2021, before the Select Subcommittee on the Coronavirus Crisis, U.S. House of Representatives, Federal Reserve Chair Jerome H. Powell noted:

“Widespread vaccinations have joined unprecedented monetary and fiscal policy actions in providing strong support to the recovery. Indicators of economic activity and employment have continued to strengthen, and real GDP this year appears to be on track to post its fastest rate of increase in decades. Much of this rapid growth reflects the continued bounce back in activity from depressed levels.”​

Confirming the Fed’s analysis…


On June 17th, 2021, the Biden Administration announced the Child Tax Credit (part of the American Rescue Plan) in order to combat child poverty. To be eligible for this program, individuals must file taxes and have income no greater than $50,000. This program gives $3,000 to parents with children between the ages 6–17 and $3,600 to those who have children under the age of 6. The Biden Administration believes that it is a moral imperative to make sure this tax credit reaches parents struggling to take care of their children. …


There can only be one reason for the events of January 6, 2021 — republican political culture officially sanctioned “insurrection, terrorism and treason.” A collection of racist and fascist sympathizers sought to murder the Vice President and members of Congress.

We discussed this eventuality on December 26, 2016:

“Under any conceivable scenario, the current situation is very bad, and I mean toxic, for democratic institutions in general and for people of color specifically. Bottom line: our Fully Adjusted Return Forecast** indicates that, over time, things will get much, much worse…..” From: Trumpism. https://www.linkedin.com/pulse/trumpism-william-michael-cunningham-am-mba/

Now, the power of right-wing lobbyists, conservative…


In an interview on Fox Business News, the current Secretary of the Treasury, former Goldman Sachs partner Steven Mnuchen, indicated that $1.5 trillion worth of $100 bills recently “disappeared.” In explaining how this money vanished, Mnuchen said: “Literally, a lot of these $100 bills are sitting in bank vaults all over the world.”

This explanation is beside the point and impossible to verify, of course, making it highly unlikely to be true.

Mnuchin, you will recall, came to Washington with a firmly established reputation for unethical behaviour. In 2009, he took “over California’s IndyMac bank, shut down amid the 2008…


Facebook’s recently announced cryptocurrency pilot, Libra, claims it will “transform the global economy.”

The company hopes that anyone would be able to send Libra through platforms like Facebook messenger and WhatsApp to act as an intermediary for transferring traditional currencies. The ultimate goal is to have this currency accepted as a (general) form of payment. And other financial services will be built on top of its blockchain-based network, called the Libra Blockchain, a “proof of authority” permissioned blockchain system.

Libra’s proof-of-authority model allows much faster transaction confirmation times, but only if the number of transaction validating “nodes” is limited. Facebook says Libra will be backed by a reserve of real assets called the…


Mark Zuckerberg’s October 23rd testimony before Congress on LIBRA, Facebook's’ proposed digital currency, has garnered much attention. I attended the hearing (*I’m the Black guy in the blue tie) and thought both legislators and Zuckerberg missed the real solution to the problem.

Mark Zukerberg at the House Financial Services Committee, October 23, 2019. (I’m in the blue tie in back.)

To understand why, let’s start with what’s really going on. Facebook created Libra in response to competitive pressure. Imagine a social networking platform with the four functions of money (store of value, means of payment, unit of account and a means of social control) imbedded. A social media platform with this functionality has the potential to significantly reduce…

William Michael Cunningham

Author, Impact Investment Creator.

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