[Marxism] Fwd: Abacus: Too Small to Jail | Louis Proyect: The Unrepentant Marxist

Louis Proyect lnp3 at panix.com
Thu May 18 16:54:16 MDT 2017


Opening tomorrow at the IFC Center in NYC, “Abacus: Too Small to Jail” 
is a documentary that chronicles the five year legal struggle of the 
founder, top officers (his daughters) and lower-level staff to defend 
themselves against District Attorney Cyrus Vance Jr. (the son of Jimmy 
Carter’s Secretary of State) who charged them with bank fraud felonies 
having absolutely no merit.

The Abacus Federal Savings Bank was a mom-and-pop operation located on 
the Bowery in Chinatown between a herb medication shop and a noodle 
parlor. It was founded by lawyer and real estate investor Thomas Sung in 
1985 to meet the needs of the immigrant community that distrusted the 
big banks that operated in Chinatown. Even if they had Chinese tellers 
and managers, it was nearly impossible for an immigrant to get a loan or 
a mortgage.

full: https://louisproyect.org/2017/05/18/abacus-too-small-to-jail/



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