Abacus: Small Enough to Jail

Men and women who go beyond and take risks to help their community get through difficult times, who care enough to try and set hardworking impoverished people up with the loans they need to simplify complicated cashflow problems, people like Thomas Sung, who saw that his community needed a bank, a bank which he then went about creating, as chronicled in Steve James's Abacus: Small Enough to Jail, Sung spent a huge chunk of his life assisting struggling immigrant families who had been rejected elsewhere, innovative families, whose loans rarely defaulted.

That's what statistics presented in the documentary precisely state, although they didn't prevent the Abacus Federal Savings Bank from being indicted for fraud.

After the 2008 financial crisis.

None of the gigantic American banks were tried in the fallout, instead, one small bank from New York's Chinatown was presumed guilty, and the government didn't even have much of a case.

Had crimes been committed at the bank?

Yes.

As the bank grew, Sung and members of his family eventually became executive managers, a reward for years of dedicated service, and their higher ranking positions slowly cut them off from ground level employees, as the years passed by.

They could monitor the bank's activities from higher up, but since they had less direct contact, it became easier for the unscrupulous to cheat them.

And a popular employee named Ken Yu did just that, along with many of the people for whom he secured loans.

As soon as his crimes came to light he was fired, but the damage had already been done.

Were the crimes committed at the bank significantly less serious than those committed by major American financial institutions?

Yes.

And whereas many of the loans approved by those institutions defaulted, only an extremely small statistically significant number of those approved by Abacus did as well.

Was there an attempt to scapegoat a small bank catering to an immigrant community for crimes committed by more formidable opponents?

It certainly looks that way, especially when you consider that none of the bigger banks were prosecuted, none, as in ye olde not a single one.

Who is Thomas Sung if not a first rate American who devoted his entire life, a life filled with countless self-sacrifices, to making the United States even greater?

Damaging his reputation and humiliating him and his family and his community in court was a cowardly act perpetrated by a lack of imagination.

It's as if he was targeted for his integrity by those who had none, The Dark Knight's Harvey Dent factor coming into play.

Fortunately he unyieldingly faced the charges and diligently proved his innocence.

One tough hombre.

An inspirational American.