Last night, MTV and BET suspended programming to host What Now?: An MTV News and BET News Town Hall in reaction to the recent fatal shootings of Alton Sterling, Philando Castile, and the five Dallas police officers. The live event served as a platform for the audience to have a conversation and express ways to find solutions regarding racially charged violence in America.
During the event, radio personality Charlamagne spoke with rapper Killer Mike on economic solutions for the Black community. “We can’t go out in the street and start bombing, shooting, and killing, Mike preaches. “I encourage none of us to engage in acts of violence. I encourage to take our warfare to financial institutions.”
The rapper proposes that we all should take a portion of our money and “put it into a small black bank or credit union” and watch it accumulate over the next few years. His proposal: for 1 million people to start a $100 account with any Black-owned bank. The result: it gives these small banks the ability to give out small home and business loans for areas that are being gentrified, so Black families don’t get pushed out and their businesses can thrive.
He states, “larger banks will not float those types of loans to minorities especially. I know this because I own a small business and I’ve tried to apply for them.”
Solange Knowles is on board with Killer Mike’s plan as she has already transferred money into a Black-owned bank. “While I realize this is a very personal decision and thing to share, I’m proud to say I made that step today, she writes. “Time to literally put my money where my mouth is.”
Here is the list of black-owned banks in the US. Watch the clip of the full conversation below, as Killer Mike dives into more detail on how to help the black community grow from the recent tragedies of police shootings and on an economical stand point. It’s time for change.