Hip-hop artist and clothing designer Jay-Z is being scrutinized for allegedly profiting off of the Occupy Wall Street Movement. Last week, friend and fellow business mogul, Russell Simmons tweeted a backstage photograph of himself standing next to Jay-Z, who was wearing a T-shirt that read, “Occupy All Streets.” Simmons’s tweet and the tee, from the Jay-Z owned company Rocawear, quickly became an online sensation as people scoured the Net trying to get their hands on the shirt. However, (more…)
Written By Manyell Akinfe, SVP of Optimum Capital Management, LLC
I recently read an article entitled “The Banks Are Bullying The Poor and I’m Not Having It” and I couldn’t believe my eyes. Russell Simmons was speaking out against predatory banking practices. While I’m all for getting riled up about the inequalities in the financial services industry, I’m not for hypocrisy.
I have a lot of respect for Russell as an entrepreneur and businessman and can’t imagine him not seeing the similarities in what the banks are doing and what he has been doing with the RushCard. Maybe he feels because he’s “one of us” he gets a pass. The same way brothers give other brothers a pass for calling them the “N” word but will raise Cain if a Caucasian addressed them that way. I’m not sure where the disconnect lays but I have to call a spade a spade.
I agree that banks are getting outrageous with their fees.read more