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Has Magic Sold his soul to payday lenders?

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Zac Bissonnette says of Magic Johnson’s business practices, he has “sold his soul to predatory financial companies.”

During an appearance on CNN, Zac mentions that there is a large industry of banks and finance companies that are designed to take advantage of low income minorities.  Many of these organizations include companies like Rent a Center or payday lenders, many of whom make loans that many experts might consider predatory.

At the center of this industry is Magic Johnson.  Johnson is paid well by these companies to promote these questionable loans, largely because he is loved by the black community.  But is Magic’s role in this industry admirable or despicable?

The best way to sell garbage to black people is to wrap it up and put a bow on it.  Is Magic selling his respect among African Americans as a way for predatory lenders to further destroy black wealth?

You can watch the video here.

 

 

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Christine

13 Comment

  1. Yes

  2. Come on majic….you know that ain't right….smh

  3. Magic Johnson does no more against blacks than other races and thats to add a service for people without a choice of places to turn for help. Nothing is really said about the whites ,Jews etc who have been doing it from the beginng of time.It's just another way of trying to make our blacks to go against each other. Explain a little more to your people and try to educate them to make wiser choices if at all possible. God bless you Magic,keep your head up high. DRICHMAN1

  4. This is highly inflammatory, lets see the EVIDENCE!!!!

  5. Just cause Magic isn't doing no more than other ethnic groups have done to Blacks doesn't mean Magic ought not be ashamed of himself for being their pawn to continue to keep us financially incarcerated. This is why when individuals try to quote what media says he has done for Blacks, they need to dig a little deeper and behold what he's really doing for us.

  6. It gets even deeper than this. Magic Johnson was also in bed with Washington Mutual, which was shut down for predatory lending to low-income homeowners. Then, there’s Jackson Hewitt, who was ordered by the feds to pay back millions for charging up to 500% interest on their “refund anticipation loans.” And, please, let us not forget the Magic Prepaid MasterCard, with it’s extremely high fees. I published an entire article about it today. Check it out: Don Sterling Saga Continues… Is Magic Johnson in Bed with Predatory Lenders?

  7. This white guy Zac Bissonnette did a article on August 2013 about this same thing. Makes me wonder where was black media and why black media wasn’t exposing Johnson before the Sterling racist thing blew up.

    http://www.buzzfeed.com/zacbissonnette/how-magic-johnson-uses-his-name-to-exploit-low-income-consum

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