A woman waits as  two people use the ATM machines in central capital Nicosia, Cyprus, on March 22, 2013.

Recently the Chairman of the FDIC, the Honorable Martin Gruenberg, spoke at a HOPE Forum (February 21st, 2013), held the HOPE Financial Dignity Center Ebenezer, home of Dr. Martin Luther King, Jr.'s social ministry and work.  One of the many insights shared on this day by Chairman Gruenberg was that the Europe of the future could benefit greatly from an FDIC-like system of bank deposit insurance.

The accuracy of this insight shared by Chairman Gruenberg is included prominently in this recent Time Magazine article surrounding the banking crisis now unfolding in Cyprus.

This much is obvious: this is not a global crisis of the poor, and it was not started by the poor.  Poor people do not have $21 trillion dollars to lose (one estimate of loss wealth in America alone tied to the unfolding global economic crisis). This is a middle class crisis, here and around the world, and the same precious few at the top seem to be making a lot of the decisions.  This crisis now involves and has impacted the working poor, the underserved, and yes the struggling middle class. That means both here and as this article notes, increasingly around the world too.  We really are all in this together. 

Commendations to Chairman Gruenberg for his vision here, and of course, for joining us for our HOPE Forum series in Atlanta, Georgia.  

From civil rights protections to silver rights empowermenr for all.  


John Hope Bryant is a thought leader, founder, chairman and CEO of Operation HOPE and Bryant Group Companies, Inc. Magazine/CEO READ bestselling business author of LOVE LEADERSHIP: The New Way to Lead in a Fear-Based World (Jossey-Bass), the only African-American bestselling business author in America, and is chairman of the Subcommittee for the Under-Served and Community Empowerment for the U.S. President’s Advisory Council on Financial Capability, for President Barack Obama.  Mr. Bryant is the co-founder of the Gallup-HOPE Index, the only national research poll on youth financial dignity and youth economic energy in the U.S. He is also a co-founder of Global Dignity with HRH Crown Prince Haakon of Norway and Professor Pekka Himanen of Finland. Global Dignity is affiliated with the Forum of Young Global Leaders and the World Economic Forum.  Mr. Bryant is a thought leader represented by the Bright Sight Group for public speaking. Mr. Bryant serves on the board of directors of Ares Commercial Real Estate Corporation (NYSE: ACRE), a specialty finance company that is managed by an affiliate of Ares Management LLC, a global alternative asset manager with approximately $59 billion in committed capital under management as of December 31, 2012. 

Pin It on Pinterest

Share This