TEMPLE I · Op-Ed: Wall Street is full of *...

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Hey all,Not sure if you saw, but earlier this month, <a href="https://www.revolt.tv/news/2021/4/8/22373418/sean-diddy-combs-general-motors-corporate-america-letter" target="_blank" rel="nofollow">Sean “Diddy” Combs wrote an open letter</a> to Corporate America in his media outlet Revolt.I was asked to write something as well, particularly about the existing wealth gaps and financial literacy.The way things are going now, average Black net worth will drop to $0 by 2053. The number one driver behind that is lack of real estate/home ownership.On top of that, 90% of millionaires are made from real estate/home ownership.Meanwhile, banks like Bank of America make the bulk of their money, charging crazy fees from their smaller customers.So I called them out on that. But I offered a solution also. <a href="https://www.revolt.tv/2021/4/27/22406518/black-people-banks-credit-ownership" target="_blank" rel="nofollow">Here it is.</a> Please let me know what you think.- PhilipWARNING: It’s R-rated so if you’re sensitive, please don’t read.

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May 3

2021

Op-Ed: Wall Street is full of **** and it’s time we hold them accountable

Hey all,

Not sure if you saw, but earlier this month, Sean “Diddy” Combs wrote an open letter to Corporate America in his media outlet Revolt.

I was asked to write something as well, particularly about the existing wealth gaps and financial literacy.

The way things are going now, average Black net worth will drop to $0 by 2053. The number one driver behind that is lack of real estate/home ownership.

On top of that, 90% of millionaires are made from real estate/home ownership.

Meanwhile, banks like Bank of America make the bulk of their money, charging crazy fees from their smaller customers.

So I called them out on that. But I offered a solution also. Here it is. Please let me know what you think.

- Philip

WARNING: It’s R-rated so if you’re sensitive, please don’t read.

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5 years ago

I loved the article and it spoke volumes, but are they listening. It takes a deeper sense to understand that the system is working as intended. As an aside, for someone to believe that poor is a statement of victim mentality, they’re simply out of touch.

1 like Reply

I am a great admirer of your Phillip, I aspire to be like you one day.

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Great message, you give me hope.

Great content

Man!! Powerful and straight to the point article!!

Wow, I read that whole piece. I'm poor myself. I think it's great that you have made it to a successful and financial life. I love the fact that you are reaching back and pulling others up with you. The banks denied my husband and I a housing loan. However, we kept saving up our money and bought a cheap house for $19,500...It's only 1142 square ft...but it's ours. We don't have a mortgage or rent. We can now focus on learning to invest...Every step of the way has been difficult but we get through it. We overcome one hurdle just to be able to get to the next one

7 likes Reply

With home ownership and loans it's very difficult because the average person doesn't make a monthly income that will qualify for an actual purchase. Nobody qualifies for the monthly 8ncome required for approval. We are all poor.

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