One Trillion Dollars-Image Source
As a community we need to wake up and smell the coffee. The nation is in the throes of a deep and serious economic crisis. The government is spending billions of dollars to rescue mega corporations. What is going on? Who is tracking these dollars and what regulatory agencies are holding the beneficiaries accountable? How are the recipients spending these funds? How many AIGs are there? Are there better strategies for protecting homeowners and creating green, tech, and energy efficient jobs in an economic development context? Where are the best and brightest who have committed themselves to the protection of these interests locally,nationally and globally? Is anybody home?
More than a trillion dollars is going to to hit the streets in the next 3-6 months. To what extent are these mammoth resources being distributed equitably among community development efforts? How about African-American banks? Minority banks? Businesses, colleges and universities?
Yes, there are groups and individuals who are fending for themselves on this issue.But this is a new day. Change has come in many ways and some that we have yet to grasp.
We are generally poorly organized and too reactionary. Decisions are being made with lightning speed, and perhaps too quickly. That means that the best and the brightest need to wake up and get on point. A lot is at stake. More long range planning and well thought out concepts for constructively addressing economic interests are needed. We need collaboration and creative strategies to ensure that bail out funds don't end up in the pockets of people on top at the expense of those on the bottom.
These times present a prime opportunity to develop innovative models that can be used to create new economic and employment opportunities. Keep your eye on Treasury and the Department of Commerce. The money is THERE. I have been curious about the development of CDFIs and community development banks.
These are perilous and challenging times and still, a trillion dollars is a lot of money. Ten percent of a trillion is 100 billion. Twenty percent of a trillion is 200 billion. A trillion dollars of taxpayers money has been issued to resolve the current economic crisis,one of the severest since the Great Depression.What percentage is going back to the "mainstreet" community?
Are we relying still on antiquated, ineffective, and fragmented approaches to protect our interests? Where are our best and brightest? I have spoken to some of them and they are busy here and there scattered about seeking audiences with key Executive branch and congressional decision makers, in reactionary mode. Missing is a concrete centralized strategy with key buy ins from major institutional decision makers and players. In this regard, the government tail should not wag the private empowerment side dog. If it does, we will become victims of its insensitivity and feigned ignorance. The good news is that the government is much more user friendly than it has been and it is listening.
Again, twenty percent of a trillion is 200 billion. No I am not suggesting economic quotas. But I am suggesting economic parity and inclusion. There are over 100 million black and brown people in this country. Their revitalization will greatly benefit the nation. This money effects all of us, our jobs, our homes, our businesses and our families. Think! We need leadership and clear action for the good of the whole.
Donald M.Temple
