#BackersOfHate is a hashtag used by Immigrant Advocates to describe corporations such as JPMorgan Chase, BlackRock, and Wells Fargo, companies whose CEOs invest their cash in private prisons. Since money is considered an extension of free speech, it is not a stretch to conclude that these corporate powerhouses support that into which they invest.
JPMorgan Chase, BlackRock, and Wells Fargo all boast about their outreach efforts to the QTPoC community, citing initiatives such as internships, grants, and promises to diversify staff. However, the CEOs of JPMorgan Chase and BlackRock, in particular, have invested millions into CoreCivic (formerly known as Corrections Corporations of America) and GEO Group, Inc., corporations that organise and govern private prisons.
After the 2016 Presidential Election, the reported holdings of JPMorgan and BlackRock “increased 237.8 times [as much].” JPMorgan is also the single largest private prison lender, and it holds 62 percent more debt than the second biggest lender to these two corporations.
Since unequal policing and police brutality are core issues facing the QTPoC community, when JP Morgan boasts of a “perfect score” on the measure of LGBT equality, it ought to be taken with a boatload of salt. This is especially significant since the catalyst for the modern equal rights movement for the LGBT community began at Stonewall as a riot against police abuses.
QTPoC people and organizations should be weary of corporate backers who commandeer social justice buzzwords in order to appear inclusive. When everything is considered, corporations support nothing but the bottom line.
The Workshop @ The EFNIKS Daily is our writing program for young QTPoC writers. Each of the 5 writers identify as QTPoC, and are between the ages of 17 and 22. Program participants receive a $200 stipend for the 60-day program. You can help us build this and other EFNIKS programs by visiting our support page.