BIN Daily Podcast. March 13, 2023

Here's a recap of some of this weekend's biggest news stories presented by Host Ramses Ja and Shoe Producer Maggie B Knowin.

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Episode Transcript

Speaker 1 (00:05):
Here at the Black Information Network, we know how important
it is for you to start your week off energized, engaged,
and enlightened. So we're looking back at the weekend to
bring you the biggest stories you may have missed. Stay
tuned for our weekend recap featuring bi N writer and
producer Maggie b. Knowing. This is the Black Information Network
Daily Podcast and I'm your host Rams This jah all right,

(00:29):
Maggie be Knowing. How you doing. How was your weekend?
I'm wonderful. How are you? I'm doing very well. We
obviously had a crazy weekend, a lot of crazy stuff
going on. The one thing that everyone's talking about, of course,
is the Oscars, but that's being covered by every media outlet,
but certainly a big event obviously the anniversary of Brianna

(00:49):
Taylor's death. That was a big one that we had
to deal with around here as well. Of course, stories
about the cartel apologizing for the murders of the Black Travelers,
so forth, and so on. Lots of stories, but a
couple of stories that we felt were important or that
folks may have missed, we're going to talk about today.
So I'll get us started. One story that you mentioned

(01:12):
was the story on, of course, the Silicone Valley Bank,
which collapsed Friday in what is being called the second
biggest bank failure in US history after a run on
deposits doomed the tech focus lenders plans to raise fresh capital.
Of course, the Federal Deposit Insurance Corporation said that it
has taken control of the bank via a new entity

(01:33):
it created called the Deposit Insurance National Bank of Santa Clara.
All the bank's deposits have been transferred to the new bank.
So this obviously is a big deal. Why don't you
tell us a bit more about this story? Yes, Rams,
this is this is honestly, it was crazy. I started
to see on Wednesday some messaging going around online. I

(01:53):
do have some connections in the tech space, started Startupscoe
and Silicon Valley Bank was a bank that did have
a lot of tech and startup companies that were heavily
invested or had deposits in the bank. So um words
started going out on Wednesday that basically the business was shaky.

(02:14):
They were not able to cover their requested deposits and
were actually trying to source money from external investors to
cover that and be able to allow you know, their
customers to take their money out. So that then basically
throughout the tech industry, the startup world, it had investors,
venture capitalists contacting the founders and basically sounding the alarm

(02:38):
and saying, move all of your money out of the
account right this second. So you know, for the most part,
within five minutes, people had their money in different places
and you know, as much as possible without setting off
different regulatory alarms. A lot of smaller companies were able
to get their money. There were, though, just a vast
number of larger entities that had more than the FDI

(03:00):
two hundred fifty thousand, so their money was up in
the air. Over the weekend, realizing that you know, like
you said, this is the second biggest bank failure in history,
and a lot of things are kind of towers in
a sense coming down right now. So the government, the
different people, the powers it be, the people with the

(03:20):
money in a sense, those that are profiting from big
banks basically got together and we're like, we need to
do something. So they have strategized. Over the weekend, they
did notice that another bank, signature bank, was very close
to being in the red. So instead of you know,
having alarms go off again, and Monday morning, just being

(03:42):
an entire collapsed throughout the industry, they did go ahead
and step in and shut down that bank as well.
So at this point, Joe Biden, President Biden just spoke
this morning, tried to calm the nerves of the country.
And you know this is of course right after his
job's report that did come out last stuff. I believe
it was Friday or Thursday afternoon Friday morning that basically

(04:04):
touted record breaking three hundred thousand jobs created. So just
you know, he wasn't he wasn't pleased with this, but
did have to get in front of it. So you know,
it's a clean up job right now, and we're going
to have to wait and see what happens definitely throughout
the industry of banking, through the tech world, and the
ripple effects will have. It'll be very interesting to watch,

(04:26):
you know. The So I happen to know that you
kind of have a background in banking, so I know
you know how serious this is and why particularly this
story was selected for us to cover today because a
lot of times we as black people, we do not
enjoy the same fiscal independence that our Caucasian brothers and

(04:49):
sisters do from institutions like these were very much connected
to them. In other words, if the banks become insolvent,
it's not like we have the same amount of investment
or passive income to rely on as our Caucasian brothers
and sisters, Asian American and so forth. And so this
is something that we really do need to watch for.

(05:09):
This is this is kind of what I was gathering
from you right right, So it's more so for the
black community. It's going to be the ripple effects that
we're going to have to watch and see. The people
who are directly impacted really are those that have venture
funding founders, which are definitely not Black people. For the majority,
it's less than that. I believe it's two percent of
funding a venture capitalist goes to Black people as a

(05:30):
current statistic. And then there's investors in the bank as well,
and just the businesses, the big businesses that have a
lot of money, so they're getting the direct impact right now.
But we will have to again wait and see, because yes,
it is something that with crypto and you know, AI
and all the technology and different opportunities that people have

(05:54):
to invest in different places. Right now, I think you know,
the Jake is starting to be up with banking, and
you know, again, banking is something that I have history with.
But but the history of banking itself is rooted in slavery.
So this is one of those things that was built
up upon a fraudulent foundation. And you know, should the
tower fall down, I don't know that that's the worst thing,

(06:17):
but you know, for capitalism purposes, we do need to
have some type of banking systems. So again, you know,
there's a lot to unpack with this, and it's going
to be playing out hour by hour. It looks like
as we've seen, you know, just since Thursday night. Sure Sure,
Black Information Network writer and producer Maggiebee, no one is
here with us discussing the weekends major stories. All right,

(06:39):
Another big story that you may have missed is this
one comes from Colin Kaepernick. Right athlete turned activist Colin
Kaepernick is opening up about his upbringing in a new
graphic novel called Change the Game. While promoting this book,
he's also dishing on how Rick and Teresa Kaepernick, his
adoptive parents, who are white, perpetuate anti blackness and put

(07:01):
him through very problematic things. Those are his own words. So, Maggie,
give us a bit more about this story and why
it's important to have conversations like these. Yeah, so this
was Um, this is a topic that hit very close
to home. Um, I, like Colin Kaepernick, UM, a biracial
black woman, And unlike Colin, I was not adopted. Um

(07:26):
so I have a white mother and a black father.
They are married almost forty years So growing up in
an interracial household. Um, you know, the dynamics are very interesting,
to say the least. Um, Colin Kaepernick was basically going around,
um for press, you know, talking about the new book
that he's released, which is his memoir. It's going in
depth about his life. It's you know, going into great detail.

(07:48):
It's talking about his trials, its tribulations, its triumphs, all
of the in between. Um. Yes, in that In that story, though,
there are details regarding his experience growing up, of course,
as you would expect, and he was adopted by white parents,
and he you know, had experiences growing up in a

(08:10):
predominantly white community that prevented him from really exploring his
blackness and being able to be who he felt to
be authentically himself. Once he you know, really learned more
about it and decided he wanted to kind of engage
with his culture more so recollecting you know, different comments

(08:31):
that they made basically, you know, calling him looking like
a thug and just different more covert racism is what
you could call it. Uh, you know, he's he's reporting this,
and there's been a very mixed reaction. So of course
there's people like me that absolutely understand. I think a
lot of black people perhaps can have some kind of

(08:53):
empathy and understanding, but there's also a whole other side,
and even black conservative I was listening to some of
the reports and Fox News and Laura Ingram, and it's
just it hurts my heart to hear these people, especially
black people, talking about Colin just speaking about his personal
experience and his personal feelings and his upbringing, because why

(09:16):
should he not be allowed to say that, you know,
some of their arguments for that he was adopted, he
was he was a minority person who was basically given
privileges and they didn't have to do that. So how
dare he speak out against them? And you know, I
just I can't silencing the people that are oppressed is racism. So,

(09:39):
you know, he's speaking out about the racism he received.
He is now receiving racism for speaking out on the topic.
That's crazy how that works. You know, there's something here
that I liked, particularly because what it does is it
allows people to have conversations where nuance has to be

(10:00):
he centered. You know, it has to be you have
to focus on the nuance right, because you're right. Colin
Kaepernick is a person who achieved a tremendous amount of
success and then even more success after, you know, standing
up for what he believes in. But to even be
in that position, he needed the right upbringing, in the
right support system, etc. And so we have to have

(10:20):
a full conversation about who his parents are, what his
upbringing was, and how that has impacted the way the
world has come together for him. However, this is kind
of one of those things that for me, I think
that according to the world, or how about this the
world according to white people, If we're painting with broad

(10:43):
strokes here, it absolutely absolutely looks like Colin Kaepernick might
be ungrateful, right, But the world according to black people Again,
if I'm painting with broad strokes, it looks like, yeah, well,
what's what is money worth? If you can't be yourself,
if you're afraid to be yourself, if there's inner turmoil,

(11:04):
you know what I'm saying, If you're if you're unsettled,
if the hair grows out of your head a certain
way and that looks to your parents like you're you're
a little thug as he as he quoted his mom
saying when he got his hair done. Um, you know,
what is the value of the wealth that you've achieved
or the privilege that you've been afforded if you cannot

(11:27):
exist in your own skinned as a as a as
a single solitary carbon unit of humanity with consciousness and
and you know, um, receive the experience that you have.
If you're not happy within yourself, money's not going to
make you happy. And so there's lots of questions that

(11:47):
people are asking now, UM, And I think that the conversation,
of course, goes much deeper than is he ungrateful? Or
you know, um, is he upset about his upbringing? Because
I know that on some level and a child with
no parents being adopted, that's a phenomenal story, regardless of race,
regardless of sexual orientation and so forth. I believe that firmly.

(12:09):
But you also have to bear in mind that if
you're going to raise someone outside of their culture, and
they're going to grow into a man or woman who
is a reflection of that culture. Without a direct connection,
without an understanding and an ability to love themselves for
who they are and celebrate themselves for who they are,
you might end up with problems. You might end up

(12:30):
with disconnects or lapses in communication like this, like Colin
Kaepernick and his mother in this instance, I'm sure they
love each other very much. In fact, you know, he
talks about his parents and the fondest of lights. You know,
he cast them in a very flattering light. But there
are definitely going to be some gaps and some missed

(12:53):
opportunities will call them. And so it's it's very important
to have these conversations. And I'm glad that that you
brought this to our attention. There's something more more you
want to add her. I'm just gonna say, like you
say a lot. You know, there can be two truths,
you know, exactly fine, And yes, you know, I I
again of relate my mother. She birthed me, you know, naturally,

(13:14):
so without epid earle. So I know she loves me.
I know I'm thirty six years old. She's helped me
get to this point. Um, but you know, she's been
a vessel for my provisions. Um, but you know that
was determined by our creator, and that does not, you know,
change my reality of my lived experience, right, Or meeting
a black woman that just so happened to be birthed

(13:34):
by a white woman, or her making comments that she
doesn't even realize offend, you know, or that she gets
defensive and doesn't want to, you know, really unpack. So
I think it's so like you said, it's so important
to have these conversations. We're really just getting started. But
I do believe that it is by racial black people,
you know, like Colin Kaepernick, like myself, that are willing

(13:55):
to speak out and share these stories. There's so many
similarities between the story of the biracial black person that
I believe we have the opportunity to communicate these stories
in a way that we can really be branch builders
and lead us towards a more positive and peaceful future.
I love it. Well, thank you very much for your
insight and of course all your hard work on these stories.

(14:15):
Once again today's guest Black Information Network News anchor, writer
and producer Maggie B. Nolan. This has been a production
of the Black Information Network. Today's show is produced by
Chris Thompson. Have some thoughts you'd like to share, use
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(14:37):
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