A Reader Says Starbucks Is Raising "Microloan" Money For American Minorities
November 02, 2011, 12:14 AM
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From:Christine [Email her]

I`m sitting at Starbucks and they are selling wristbands for $5 dollars that benefit "The Opportunity Finance Network"

On the wall there is a pamphlet about this group... I think this sentence says it all

"CDFIs [“Community Development Financial Institutions" ]make loans that are profitable, but not profit-maximizing. They are required to put their communities first, not their shareholders."

Not only that, but these loans only go to low income `disadvantaged communities` so another wealth transfer from SWPL`s to minorities

GEESH! I`m glad I could employ Mark Pinsky—the President and CEO of this moneymaking little scheme.

Micro-loans for American minorities. LOL!!!

There`s an old Economist Article on Mark Pinsky and CDFI`s which says "Mr Pinsky hopes that CDFIs can become a $25 billion industry within a decade."[Banking on the poor | The Clinton administration has poured millions of dollars into community financial institutions. Has it been money well spent? Jun 25th 1998 |]

It`s always good to have non-profit charitable organizations attempt to become an "industry" now, isn`t it?

Sounds like to me Mr. Pinsky`s "Industry" is floundering as minorities tend not to repay loans during a recession, so the industry needs a cash injection from Starbucks Customers.