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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/ _________________________________________________________ Full posting guidelines at: http://www.marxmail.org/sub.htm Set your options at: http://lists.csbs.utah.edu/options/marxism/archive%40mail-archive.com
