Is this wealth not passed down throughout the years?

Wachovia didn't profit from it. Again, a lot of the public corporations have shareholders which include Black Americans - part owners in these banks.

-Rudey

They acknowledged that 2 of the banks they assumed did so they are accepting responsibility (for lack of a beter word).

I wonder how many Blacks folks will keep their shares?

Why was this divulged? Was it forced like the Chicago/JPMorgan event?

And I guarantee it will most. In fact quite a few of them don't control what shares they buy if they are in unions that invest pensions. Most probably won't care I'm guessing regardless since Wachovia is not that bank.

-Rudey

I'm not sure if they were forced to or if they just wanted to avoid any backlash.

"decision came amid a welter of local and legislative initiatives aimed at requiring banks and other companies to investigate their pasts with regard to slavery."

Now, let me prod you for a bit. Why do you think Wachovia and JPMorgan, 2 large banks, were "pushed" to release this information?

-Rudey

Because members of our society are interested in this information. :D

Why not about other types of companies? So basically why are banks targeted for this and why are banks so high profile in the news?

-Rudey

Oooh. I think other types of companies such as insurance companies have been targeted. I think Lloyd's in London was examined?? And there are studies on how some national monuments were built by slaves.

This is true. If you look at some of the South's most wealthy families you'll see that on down the line they owned slaves. And if you look back far enough, you'll note that many corporations profited from the slaves. Maybe not directly all the time, but they still profited whether directly or indirectly.


But then again a lot of this country's wealth is also a result of World War II and us lending money to France and England. War, in itself, made this country wealthy.

Lets cut to the chase. You are not looking for an apology. Apologies have already been made. The people running Wachovia were not even born 150 years ago. The people that deserve the apology are all dead. We already knew that slavery took place and businesses profited from it. What you really want is 40 acres and a Bentley.

:confused: Did I miss a memo??

70yrs after the incident in Rosewood were a White mob ran Black families out of a town the state gave 2.1 million to their descendants. Are you saying they shouldn't have recieved anything?

Was that like, when blacks in LA burned down half the city after the Rodney King verdict? How much in reparations were paid to all the white/asian business owners?

The individuals that were run out of town should be able to take legal action against the individuals that ran them out of town. You on the other hand probably want the rest of white America that had nothing to do with Rosewood pay reparations to the rest of Black America, who also had nothing to do with Rosewood.

Re: Wachovia's Ties to Slavery
 

I'm not surprised. It takes a good headstart to get to fourth largest. I appreciate that the higher ups have the social awareness to make a statement on it.