Florida Minority Group To Protest Federal Reserve Chief

Washington, DC 20551

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Honorable Barney Frank                                  Honorable Chris Dodd

Chair                                                                Chair

House Financial Services Committee              Senate Banking Committee

2252 Rayburn Bldg                                           448 Russell Building

Washington D.C. 20515                                     Washington D.C. 20510          

RE:  Hunger Strike against Chairman Bernanke Set for January 5, 2010 at Federal ReserveBoard Building (Washington D.C.)

“Compassionate Capitalism- It is not a matter of fairness; it is a matter of economic survival for there is no greater asset than that of human capital”

Dear Mr. Bernanke:

We have made several requests for your attention to the economic concerns of the underserved minority communities of Florida.  Repeatedly, you have neglected to hear the cries of our communities whose lives are torn apart by the neglect that you continue to demonstrate towards our families in Florida.

The economic distress of minority communities may be one of the most pressing issues facingFlorida.  The lack of businesses and jobs fuels not only a crushing cycle of increasing poverty but also crippling social problems, such as drug abuse and crime in our minority communities. The establishment of a sustainable economic base together with employment opportunities, wealth creation, role models, and improved local infrastructure is critical to the future well-being of these communities and the State of Florida.  The Federal Reserve Board System is center to the creation, execution and enforcement of community reinvestment policy that addresses these issues that plague our communities and businesses.  But the lack of a true understanding of the issues and pain that confronts these families everyday by your organization has resulted in policies that are counter to the future well being of these communities. 

With the emerging global economy, resources will become more limited in scope and nature for minority communities and businesses.  Florida is a state in which minority communities are witnessing decreasing social services, due to budget shortfalls, when such services are needed to be expanded to meet greater social need.   This in turn allows poverty, unemployment, crime and drug abuse to take a greater hold on under served minority communities in Florida.

The ability of minority communities to access resources and develop the ability to counter rising unemployment is critical to not only the health of minority communities and businesses in Florida, but the overall economic health of all of Florida. In 2010, our country will see the most sweeping changes in the financial industry since the New Deal.  It is imperative for your organization to address the problems and not the symptoms that hinder community revitalization in not only Florida, but minority communities across the United States.  Your policies must address the root of the problem and not the symptoms.  But you can not hear the cries of our families and businesses by engaging a system of regional Federal Reserve Boards that are skewed towards the best interest of the financial industry. 

Because of your continue lack of willingness to come to Florida and hear our cries, I have no choice but to challenge you until you do so.  I will no longer ALLOW YOU to ignore our communities, businesses or families.  On January 5, 2010 I will begin a hunger strike in front of the Federal Reserve Building in Washington D.C.  And such demonstration will not conclude until you agree to come to Florida to hear the cries of our communities, businesses and families.  

Minorities account for over 40% of Florida’s population but account for less than 5% of its GDP.

There is no doubt that there must be a complete paradigm shift in your view of community revitalization of inner cities. Data conclusively links the overall economic health of all major metropolitan areas to job creation within their surrounding inner cities.  This is not more evident than in Florida and the lack of effective job creation resources for minority communities and businesses. 

The Global economy will forever change the face of this nation.  Minorities are the future economic soldiers who will serve to continue to ensure that the values of our country are multiplied that will in turn ensure we as a country remain strong and the global economic leader for centuries to come.  But you as the Chairman of the Federal Reserve Board System must ask yourself are the minority communities and businesses properly prepared to meet this challenge of becoming a major contributor to the gross domestic product of our country.

This is not a minority issue but a national issue that presses directly to the future of this great country of ours.  .  How many scientists, teachers, doctors, engineers and so on has this country lost because of loss of hope and dreams?  Whether we as a country want to see the future or not, it will not stop the fact that minorities will make up over 50% of the population in years to come in such states as New York, Texas, California, Arizona and Florida.  Are our communities, families and business adequately equipped to shoulder a greater responsibility for our country’s economic future?  Allow us to work together to answer this question. 

Again, it is our hope that I do not have to launch such a demonstration on January 5^th but that you will come visit Florida and see for yourself both the neglect and the potential that our communities, families and businesses have. 

We thank you for your consideration on this very important issue.  If there are any questions or concerns, please contact myself at either (813) 598-6361 or (941) 284-0688.  We thank you for your leadership on this matter.

Cordially,

Al Pina

Chair

Florida Minority Community Reinvestment Coalition

www.fmcrc.org
pina@fmcrc.org
(813) 598-6361
admin@fmcrc.org
(941) 284-0688

Federal Deposit Insurance Corporation                    Department of the Treasury

Ms. Sheila Bair                                                         Secretary Timothy Geithner

Chairwoman                                                             500 Pennsylvania Ave NW

Room MB-6028                                                          Washington  D.C. 20220

Washington D.C.  20429                        

Roger Campos (President, Minority Business Roundtable), Aracely Panameno (Director, Latino Affairs-Center for Responsible Lending) John Gamboa (Greenlining Institute) Roger Campos (President, Minority Business Roundtable) David Lizarraga (Chairman, United States Hispanic Chamber of Commerce) Greg B. Macabenta (National Chairman, National Federation of Filipino American Associations) Winnie Tang (President- Organization of Chinese Americans, South Florida Chapter) Elaine Black (President-Liberty City Trust) Ron Frazier (Chairman- BAC Funding Corporation) Joy Bruce (Founder-President/CEO, NANAY Inc.) Raul Espinosa (President- Fairness In Procurement Alliance) Reggie Clyne Esq. (Wilkie D. Ferguson Jr., Bar Association)  Orson Aguilar (Director, Greenlining Institute) Johnson Ng (Executive Director, United Chinese Association of Florida) Val Dagani (Founder, Filipino American Coalition of Florida) Doug Mayorga (President, Florida Minority Chamber of Commerce)  Rolando Sanchez-Medina, Esq. (President, Cuban American Bar Association) Nydia Menendez, Esq. (President, Puerto Rican Bar Association) Jorge A. Mestre, Esq.(Hispanic National Bar Association) Kerth J. Conze, Esq. (President, Haitian Bar Association) Jay Kim, Esq. (Asian Bar Association) Dr. Rubio Arnesto (President, Cuban American Publisher’s Association) Sylvia Alvarez (President, Housing & Education Alliance) Tomas Lares (Coalition of Latino Central Florida Faith Based Organizations) Glorious J. Johnson (Council Member, City of Jacksonville) Dr. Bessie Fletcher (President, Mothers & Daughters Inc.) Vicente Rodriquez (Hispanic Publishers Association) Raphael Cosme (La Prensa Orlando)  Debra Reyes (President, Neighborhood Lending Partners) Dorothy Hughes (President, Gateway Economic Empowerment Coalition) Maria Benton (President, Spain in Jacksonville) Eddie Stanton (President, Mad Dads Inc.)  Romeo De La Paz (Chair, Filipino American Foundation) 

Asian American Chamber of Commerce-Jacksonville (Dr. Mel Carbonell, President)  

Filipino American Coalition of Florida (Lita Martija, Convenor)   
Fil-Am Council of Jacksonville (Noli Vianzon, President)  

Florida's Space Coast Filipino American Charitable and Educational Foundation, Inc (Romy dela Paz, Chair)

Asian American Federation of Florida (Joy Bruce, Interim President)  

NANAY, Inc (Bennie Trinidad, Exec Vice-President & COO)  

NANAY Housing Resource Center (Evelyn Bruce, Executive Director)   

QBIS Group, Inc. (Eva Bruce, Chair person & CEO)  

Cambodian American Community Services - (Jadranko (Jay) Gogalija, Government Affairs Financial Matters Program Director)    

Fil-Am Political Alliance of Florida (Ernie Ramos, Chair)  

Asian American Heritage Council (Karen Nguyen, President)  

A-Major Multimedia (Andrew Jeng - Vice-Chair)   

Organization of Chinese Americans - South Florida Chapter (Winnie Tang, President) 

Florida Chinese Federation (Winnie Tang, President)   

Council for Filipino American Organizations (CFAO), Central Florida (Mario Ordona, Chair) 

Bataan Corregidor Memorial Foundation, Osceola Co. (Pedro I Gonzales, MD -Chairman) 

Bayanihan International Ladies Assoc., Seminole Co. (Julieann Cruz - President)  

Filipino-American Assoc. South Orange &Osceola Co, Osceola Co. (Erlinda Rodas-President)  

Filipino American Veterans Assoc., Orange Co. (Angel Salvador-President)  

Gawad Kalinga Orlando, Orange Co. (Rainer Guevarra-Coordinator)  

Ilonggo Assoc., Orange Co. (Jeanette O'Meara-President)  

Knights of Rizal, Orange Co. (Alex de Guzman-Commander)   

Ladies for Rizal, Orange Co. (Naty Ordona, DMD-President)   

Philippine American Chamber of Commerce, Orange Co. (NV Bouffard-President)   

VisMindaLuz Assoc. Orange Co. (Nena Adonay-President)  

80-20 Educational Foundation (Edward Lin, Director)  

NANAY Health Center Inc (Badette Llurba, Chair)   

Philippine American Federation of South Florida (Beth Marull, President)  

Philippine American Cultural Foundation of Florida (Edwin Dominado, President & Chair)  

Han Foundation

Kissimmee Chinese School

United Chinese Association of Florida (Winnie Tang, President)