Capital Markets Memorandum 002
by: Eli FieldsPublished on: 28/04/2026The first analytical point is definitional: the core operating costs of a regulated depository institution do not scale linearly with asset size. They are, in the language of cost accounting, predominantly fixed
MDIsmall-bank tax compliance costscapital trapsecuritizationBlack banksFDICfixed costs
Capital Markets Memorandum 001
by: Eli FieldsPublished on: 28/04/2026Architectural Brief No. 008 proposed that Black-owned banks unite for scale. It named the problem — fragmentation — and described the mechanism — a shared securitization consortium — through which that fragmentation could be solved.
securitizationMDIstructured financecapital marketsBlack banksRule 144ASPV ABS
