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Showing posts with the label Martin Luther King

Obama at Howard: Best Speech of his Presidency?

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President Barack Hussein Obama came to Howard University and delivered what many Black people will regard as the best speech of his presidency. (Click here for one absolutely hilarious reaction.) As with Larry Wilmore's White House Correspondents' Dinner Speech, we expect most white people to disagree. Here's why they are wrong on both. In content, reference and tone, both the President and Wilmore were not speaking to white people. They were speaking directly to Black people.  Mr. Obama started by name checking the resident student dormitories at Howard. In doing so, he speaks to the people who either lived in, partied at, heard about or wanted to party at one (or more) of the dorms. This may number 900,000 Black people, give or take...I'm not even kidding. He also name checked the pantheon of Black activists and achievers: Thurgood Marshall, David Dinkins, Zora Neale Hurston, King, of course, but also Fanny Lou Hamer, and James Baldwin, just for starters. This was a…

Martin Luther King's Philosophy on Investing

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Capitalism and Equality  As the civil rights movement expands to include investing and investments, I thought it would be an appropriate time to reflect on Martin Luther King, Jr.'s attitude toward investing. Though it may surprise some, Dr. King was one of capitalism's staunchest proponents. In this respect, his actions were fully consistent with his faith: as he noted in one of his speeches, "Jesus never made a universal indictment against all wealth." What's more, Dr. King's work made capital markets more efficient, as I discuss below.  A Socially Responsible Investor Martin Luther King was more concerned with how wealth was obtained and used. To him, the fact that one owned a Cadillac said nothing about one's faith or about one's character, for that matter. Worshiping the Cadillac, however, did. This certainly made him a socially responsible investor, specifically a values investor. His emphasis on values rested on a concern he expressed many time…

Financial Conflicts of Interest

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We define a financial conflict of interest as a situation in which a person, institution or organization has more than one financial  interest in a particular investment vehicle or asset. The problem occurs when parties whose interests are singular, and thus not compromised, depend upon a conflicted individual or institution for primary advice concerning the purchase, sale or retention of the conflicted financial asset. The conflict "corrupts the motivation of the individual or organization" providing advice.  According to the White House's Council of Economic Advisers, "conflicted retirement investment advice costs investors $17 billion each year," The US Department of Labor recently held a hearing on conflicts of interest in the provision of retirement investment advice. The goal of the hearing was to gather testimony on the Employee Benefits Security Administration's (EBSA) proposal to reduce conflicts of interest in the retirement advice marketplace. A…

Your Freedom will not be brought to you by Comcast, Sprite or Google...

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We are delighted that an idea and initiative we suggested has begun to get traction, as evidenced by an effort launched in July called “Venture DC 2015”. Sponsored by Comcast and supported by DC’s Department of Small and Local Business Development (DSLBD), the well funded Venture DC initiative claims to seek to “empower emerging entrepreneurs who are addressing and solving some of DC's most pressing challenges related to health care, education, housing, economic security and access to financial services, specifically in Wards 7 and 8.”
Perhaps a little background is in order. On January 19, 2015, Martin Luther King's Birthday, we convened several DC-based Black Tech firms, policy analysts and others at a meeting in Washington, DC to discuss social innovation and technology. For more, see: https://www.linkedin.com/pulse/martin-marion-tech-william-michael-cunningham-am-mba
“We focused on the role technology might play in addressing Black Male safety and security issues. The meet…