Discovery Bank begins rollout to general public

midkemia

Senior Member
Joined
May 31, 2006
Messages
550
The discrimination against you that you speak of is only in your head. Your current bank doesn't give you free shares and Discovery also wont. So you lose nothing.
its not in your head, or my head... its in their policies in black and white... maybe they should print their policies on black paper with black ink...
 

midkemia

Senior Member
Joined
May 31, 2006
Messages
550
You know they don't have a choice in regards to black ownership? You know they also need to certain percentage in e.g. management (think 40-50%), etc.
There are other banks that didn't give away shares, they sold them but only made it so black people can get them. The point of shares is to raise capital, I'm okay with them being forced to sell to only race as government is forcing them to (not agreeing with government though as those able to purchase/get them are definitely not underprivileged) but not okay with giving away for free as it undermines the use of shares. Some people are going to get a say in the company without even contributing to it.
but if they opened this to everyone born under a south african sky, wouldn't the % work itself out in the end. why do we need this seems like a money grab by rich politically connected blacks, to which there is no opposition in this country, they are above the law and untouchable
 

SauRoNZA

Honorary Master
Joined
Jul 6, 2010
Messages
33,748
Honestly, I doubt it is going to reach the LSM who actually needs it. It would probably end up with the middle and upper classes, who don't need it.

If they haven't spread the love down to the LSM by now then it is not going to happen anything soon. Therefore it was a wasted exercise, was it not?

Or are the LSM onboarding in droves?
Stop using acronyms that nobody else has ever heard of.

At least use the full written form once.
 

SauRoNZA

Honorary Master
Joined
Jul 6, 2010
Messages
33,748
You know they don't have a choice in regards to black ownership? You know they also need to certain percentage in e.g. management (think 40-50%), etc.
There are other banks that didn't give away shares, they sold them but only made it so black people can get them. The point of shares is to raise capital, I'm okay with them being forced to sell to only race as government is forcing them to (not agreeing with government though as those able to purchase/get them are definitely not underpriveledged) but not okay with giving away for free as it undermines the use of shares. Some people are going to get a say in the company without even contributing to it.
Those banks were all existing and migrated with change.

They didn’t need to start from scratch in that environment.

Quite different.
 

Nemoneiros

Well-Known Member
Joined
Feb 14, 2012
Messages
117
Stop using acronyms that nobody else has ever heard of.

At least use the full written form once.
My bad, it's just too much dealing with the switching and reward systems made me round it down to just "lsm". I meant to say The Lower LSMs (Living Standards Measure) as I've pointed out in my reply. Thank you for pointing that out.
 
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