Author Topic: Democrats pressure banks to atone for slavery-era activities to 'redress past wrongs’  (Read 1141 times)

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Offline mystery-ak

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 December 7, 2022 12:31pm EST
Democrats pressure banks to atone for slavery-era activities to 'redress past wrongs’
One witness said banks have yet to address the harm they did during slavery

By Peter Kasperowicz | Fox News

Banks should fund community development in Black communities, support the education of the next several generations of Black students and take other steps to atone for the role they played financing and supporting slavery in America, witnesses told a House committee hearing organized by Democrats on Wednesday.

The House Financial Services Committee held a hearing on "The Role of Financial Institutions in the Horrors of Slavery and the Need for Atonement," which could be the final hearing led by Chairwoman Maxine Waters, D-Calif., before Republicans take control of the House in January.

William Darity, a professor of public policy at Duke University, said the slave trade was a major contributor to the growth of the U.S. financial sector, and said slavery is why Black families are so far behind White families when it comes to household net worth. Darity said a 2020 study says the average White household net worth is $840,000 higher than net worth for Black families and said bridging that gap would be expensive.

"The collective amount required to close the disparity for approximately 40 million black American descendants of persons enslaved in the United States will come to at least $14 trillion," he said in his written testimony. "This is a sum that cannot be met reasonably by private donors or other levels of government."

Other witnesses offered ideas on how banks can atone for their participation in the slave trade, which Rep. Al Green, D-Texas, contributed to the vast wealth of U.S. financial institutions that was "built on the backs of enslaved people."

Dr. Sarah Federman, associate professor at the University of San Diego’s Kroc School of Peace Studies, said financial institutions today still need to answer for their role in slavery.

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https://www.foxnews.com/politics/democrats-pressure-banks-atone-slavery-era-activities-redress-past-wrongs
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Offline catfish1957

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40 acres of desert property = $100/ac in some AZ desert Location = $4000

1 mule= $1000.

Total= $5K

Meet the government promise, Fund it, and STFU once and for all with this reparations shit.
 
I display the Confederate Battle Flag in honor of my great great great grandfathers who spilled blood at Wilson's Creek and Shiloh.  5 others served in the WBTS with honor too.

Offline andy58-in-nh

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People who were never slaves demanding money from people who were never slave-owners, nearly all of which would be absorbed by wealthy left-wing organizations so they can agitate for more grievance payments?

Nope.
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Offline Fishrrman

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Title:
"Democrats pressure banks to atone for slavery-era activities to 'redress past wrongs’"

What they REALLY mean:
"Give us your money, no questions, and be quick about it..."

Online goatprairie

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The original "40 acres and a mule" was written as a war order by Sherman during the CW meant for only a small group of ex slaves. It was reversed by Lincoln's successor Andrew Johnson. Sherman's war order probably had no legal or constitutional merit post CW.
Of course, that was taken as a real thing meant to be immediately enacted by many ex slaves.
Ever since then descendants of slaves have been demanding more and more freebies from the gov. because of the slave status of their ancestors.
If people were to rewarded for bad things that happened to their ancestors, then virtually everybody in the world would probably be owed some money. Maybe I could demand the Italian gov. give me lira (or Euros) because my Slavic ancestors  might have been enslaved by the Romans 2000 years ago or so.
At some point somebody has to stand up to black Americans and ask them to stop being such drags on the country. I'm not holding my breath.

Online goatprairie

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People who were never slaves demanding money from people who were never slave-owners, nearly all of which would be absorbed by wealthy left-wing organizations so they can agitate for more grievance payments?

Nope.
Nothing is stopping liberal billionaires and multi millionaires from sharing their moolah with all those deserving black Americans many I'm sure have never drawn a welfare check or been given a job they weren't qualified for but given to them because they were black.  :whistle:

Offline mountaineer

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Can't wait till they come after the descendants of slaveholders and seize their (my)  bank accounts or more - you know, for equity.
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Online goatprairie

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Title:
"Democrats pressure banks to atone for slavery-era activities to 'redress past wrongs’"

What they REALLY mean:
"Give us your money, no questions, and be quick about it..."
We always get back to the question: would they rather their ancestors not have been enslaved and they were still living in some fly ridden pesthole in Africa, or be where they are in the greatest country in the world?

Offline Hoodat

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banks have yet to address the harm they did during slavery

The same can be said for Democrats.
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Offline Hoodat

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40 acres of desert property = $100/ac in some AZ desert Location = $4000

1 mule= $1000.

Total= $5K

Meet the government promise, Fund it, and STFU once and for all with this reparations shit.

The original agreement (emphasis on 'agreement', i.e. something agreed to by both parties) called for 40 acres in South Georgia.  The mule was never part of the agreement but was tossed in for good measure.

Sherman (and Stanton's) 'Special Order' was incorporated into law in 1865.  But once Democrat Andrew Johnson took office, he reneged on it.  The legal promise was never fulfilled.

The restitutionists have a valid point.  But it is the Democrat Party who should be paying for it.
If a political party does not have its foundation in the determination to advance a cause that is right and that is moral, then it is not a political party; it is merely a conspiracy to seize power.     -Dwight Eisenhower-

"The [U.S.] Constitution is a limitation on the government, not on private individuals ... it does not prescribe the conduct of private individuals, only the conduct of the government ... it is not a charter for government power, but a charter of the citizen's protection against the government."     -Ayn Rand-

Offline Weird Tolkienish Figure

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Wasnt' this very thing what caused the 2008 crash?

Offline Hoodat

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Wasnt' this very thing what caused the 2008 crash?

Democrats taking control of both Houses of Congress in 2007 (and Clintonista control of FNMA) is what caused the 2008 crash.
If a political party does not have its foundation in the determination to advance a cause that is right and that is moral, then it is not a political party; it is merely a conspiracy to seize power.     -Dwight Eisenhower-

"The [U.S.] Constitution is a limitation on the government, not on private individuals ... it does not prescribe the conduct of private individuals, only the conduct of the government ... it is not a charter for government power, but a charter of the citizen's protection against the government."     -Ayn Rand-

Offline Free Vulcan

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Oh great, forced indulgences for our ancestors sins, whether they did them or not.
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Offline sneakypete

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Here's an idea.

Why don't Dims use THEIR money to ease THEIR guilt,instead of using yours and mine?

Trick question.

We all know that Dims are soul-less drones that are incapable of feeling guilt about anything. All they are doing is trying to use public money to buy votes.
« Last Edit: December 08, 2022, 06:55:59 am by sneakypete »
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Offline Smokin Joe

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Can't wait till they come after the descendants of slaveholders and seize their (my)  bank accounts or more - you know, for equity.
The reality there is that, for most, if the losses during the war hadn't destroyed most or all gains prior, the 1930s sure didn't leave much.

Put that pittance against the hundreds of thousands I have paid out in taxes to support people...and who owes who?

 
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Offline Kamaji

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The reality there is that, for most, if the losses during the war hadn't destroyed most or all gains prior, the 1930s sure didn't leave much.

Put that pittance against the hundreds of thousands I have paid out in taxes to support people...and who owes who?

 

Exactly. 

Offline GtHawk

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We always get back to the question: would they rather their ancestors not have been enslaved and they were still living in some fly ridden pesthole in Africa, or be where they are in the greatest country in the world?
Many years ago my mother working as a nurse got tired of a Black co worker whining and told her that instead of complaining she should look at what she had accomplished becoming an RN and in charge of the other nurses and an entire floor of the hospital. And that she should think about what her life would be if her life was never touched by slavery and she grew up in an African tribe. Pretty much what you said but nicer, mom was always polite and they even stayed friends.

Offline DefiantMassRINO

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Does that mean all the Blue-Blooded trust fund babies are willing to give away family fortunes first made by trading slaves?
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Offline The_Reader_David

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Seeing that the Democratic Party (to give them their own preferred name) was the party of the slaveholders and that all the secessionists who created the Confederacy were Democrats both before and after the Late Unpleasantness, could the current crop of Democrats at least have the decency to have their own party atone for its slavery-era activities before asking anyone else to pony up.
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Offline sneakypete

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Slavery was no one's fault. It was the  end product of necessity.

The first slaves were no  doubt captured women from a conquered tribe,and they were damn lucky to become slaves because the other option was they would become lunch and dinner.

This also benefitted the tribes because it brought fresh blood into their gene pool and kept such evils as the Democratic Party,retardation,and diseases at bay and kept the early tribes from just disappearing.

It continued for thousands of years because everything was created by manual labor,and the work needed to be done.
Once again,the slaves benefitted from it because being able to work kept them out of the soup pot at first,and kept them alive and able in some cases to earn their freedoms by being clever and/or brave they were seen as being more of an asset to the tribe as a free man than as a laborer.

The women,of course,were rarely freed,but being a woman had it's advantages even if they were old because by the time they were old,they were still useful as babysitters and housekeepers.

And,of course,even after some mechanical devices had been invented that made the need for slave labor not as neccessary,slaves were still useful as soldiers,and this even benefitted the slaves as a good slave soon became a good soldier,and a free man leading other slaves into battle. In some cases they even became commanders.

And in MOST cases the slaves were treated well in early America because their labor was valuable and their owners couldn't afford to lose them. I suspect this was true in most/all other western nations because it just made good economic sense,and once again,if that person had not become a slave,chances are they would have become a corpse in their home country.

Once actual slavery became unacceptable,what I call "economic slavery" emerged. Under this system,the newly freed slaves were free to either starve to death,or work for what became known as "slave wages" at the factories and in the farms of the northern industrialists.  There is some debate about if this was actually a step up,or not.

BUT......,there can be NO doubt about slavery becoming a necessity once farming became popular because early farming was entirely dependent on massive amounts of laborers.

Once mechanical machines were invented that would do the work of many slaves,cheaper and quicker,the need for slaves dropped and it should have been obvious to anyone that it would soon end due to economic reasons more than moral reasons. The Northern Industrialists saw the need for cheap labor in their factories because the ignorant and desperate immigrants from Europe were starting to get "uppity' and demand more money,shorter hours,and better treatement,so the Industrialists lobbied their representatives to free the slaves so they would once again have access to cheap and desperate labor they could exploit  for profits.

BTW,the very FIRST black man enslaved in the New World that was later called America was a black man that was enslaved by ANOTHER black man that came to America as an indentured servant who has worked off his obligation,and once GIVEN the FREE farm land that was a part of his contract,ended up taking his own indentured servant to court and legally enslaved him by court order. This happened in the Virginia Colony, and the first slave owner eventually ended up as the wealthy owner of a horse farm in Maryland when he died.
« Last Edit: December 09, 2022, 02:52:34 pm by sneakypete »
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Offline catfish1957

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Slavery was no one's fault. It was the  end product of necessity.



Society seems to forget that even the Judeo-Christian bible mentions slavery and slaves a handful of times, and not in a negative light.

No doubt, the practice is reprehensible, but understand that much of the morals and social practices for the past 2000-3000 years has been driven by the text of the Good Book.

1/4th of my Antebellum and earlier ancestors were slave owners.  Does that fact preclude the need for me to feel guilty and provide offers some form of restitution....   Hell No.

This offer has standed for 25 years of my on-line comments about this matter.....   I'll give 100% of my wealth to all the slaves I have ever owned.   No one has come forward yet.
I display the Confederate Battle Flag in honor of my great great great grandfathers who spilled blood at Wilson's Creek and Shiloh.  5 others served in the WBTS with honor too.

Offline christian

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The Bible describes human chattel, as forbidden-slavery.  Despite slavery being a common practice of that day.  As for paying reparations to further stress the American economy to collapse.  After the civil war, America bought and made blacks there own Country if Africa for those wishing to return, called Liberia.  This is nothing more than American Communists trying to stress the American economy to the breaking point to give them endless crisis to exploit and oppress America/Americans.
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Online goatprairie

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Society seems to forget that even the Judeo-Christian bible mentions slavery and slaves a handful of times, and not in a negative light.

No doubt, the practice is reprehensible, but understand that much of the morals and social practices for the past 2000-3000 years has been driven by the text of the Good Book.

1/4th of my Antebellum and earlier ancestors were slave owners.  Does that fact preclude the need for me to feel guilty and provide offers some form of restitution....   Hell No.

This offer has standed for 25 years of my on-line comments about this matter.....   I'll give 100% of my wealth to all the slaves I have ever owned.   No one has come forward yet.
One of the worst things about undeserved reparations would be what it would set in motion.
If some group of people i.e. American blacks got money for what bad things happened to their ancestors, why shouldn't other groups get paid?
The facts are in this history of mankind virtually everybody has ancestors who were treated horribly by other groups of people.
Where would it stop? It wouldn't.
And in the case of American blacks, would they be happier back in one of the many third world countries in sub-Saharan Africa? I doubt it.
They just refuse to admit how fortunate they are as Muhammad Ali said that their great granddaddies got on that boat.