In front of Representative Al Green of Texas sat seven men: Jamie Dimon of JPMorgan Chase, Michael Corbat of Citigroup, Brian Moynihan of Bank of America, David Solomon of Goldman Sachs, James Gorman of Morgan Stanley, Charles Scharf of Bank of New York Mellon, and Ronald O'Hanley of State Street. Between them, these seven individuals governed institutions with comb
Architectural 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.