It's Time to Kick Magic Johnson Down from That Pedestal

The world is buzzing about comments made by Don Sterling during his CNN interview with Anderson Cooper. People of color, especially black folks, seem to be mad simply because the words came from the mouth of someone being accused of bigotry. But, when it comes to comments Sterling made about Earvin "Magic" Johnson, specifically, many of them are absolutely true.

Yes, it does hurt to have to admit that this NBA legend is actually hurting urban communities. And, I myself am hurt because he was on such a positive roll for some years. But, the positive things he's done do not make up for the fact that he's sold his soul, his face, his image and his brand to predatory lenders.

Watch the Full CNN Anderson Cooper Interview Don Sterling

 Watch the entire interview at: http://cnn.it/1ncNBXV

 

The Don Sterling Saga Continues… Is Magic Johnson in Bed with Predatory Lenders?

Today, I published an article I spend all of yesterday writing. When I first started my research for the article, I was hoping to find proof the Don Sterling lied about Magic Johnson. But, the more I dug, the more it became obvious that there was even more to the madness than what Sterling said in the Anderson Cooper CNN interview.

Magic Johnson was spokesperson for Rent-A-Center

The fact is: Magic Johnson is indeed in bed with predatory lenders. Not only does he promote them, he actually became one himself. These are four businesses Magic Johnson supports (or has supported), that are known for predatory lending and practices:

1. Washington Mutual was responsible for selling dreams to homebuyers in low-income communities. These homeowners became victims of the foreclosure crisis at some point.
2. Jackson-Hewitt lures people of color into their stores with ploys like “refund anticipation loans” AKA cash advances, on their tax returns. The interest rates were as much as 500%.
3. Remember the Magic Johnson’s Rent-A-Center commercials? Well, RAC triples the prices of furniture and appliances by offering extremely low payments over very long periods of time.
4. The Magic Prepaid MasterCard has some of the most expensive fees ever seen in the prepaid debit card industry. What's the point of this? It certainly doesn't help urban communities.

 

Ol' Don Spoke Some Truth 

Personally, I'm appalled by the fact that a Jewish man can make such judgemental remarks about a black man and get away with it. No, I'm not appalled by the fact that he's Jewish. I'm appalled by the fact that what he said is so close to true.

Now, to be fair, Ol' Don was incorrect when he said that black people don't give back. It's generalized statements like that which keep people calling him a bigot. He was also incorrect when he said Magic has done nothing for "the" black community. We all know that's not quite true. Magic Johnson Enterprises has done it's fair share to bring jobs and business to urban communities.

We can assume President Obama thought Magic Johnson was a good guy when they shook hands on the court that day.  Image Credit: zimbio.com

Magic Johnson Owes Us Answers

However...

All the "programs for HIV/AIDS awareness, programs to decrease high-school dropout rates, UNCF fundraisers" in the world don't make up for selling your soul to predatory lenders. These companies could NOT survive in affluent communities. They can only survive in low-income neighborhoods, because generally speaking, we, the people of color, have no other places to turn for help.

But, that's no excuse for someone many of us look up to, admire and trust to publicly recommend these predatory companies to us. It's time for Magic Johnson to come down from that pedestal speak up on this matter. He owes us at least that much!

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