Friday, January 21, 2005

Backdoor Reparations?

Holy Toledo. A major U.S. Bank is not only admitting it's role in the U.S. Slave trade, but APOLOGIZING for said role AND starting a $5million dollar scholarship fund in Lousiana, the state where the events took place: BBC NEWS | Business | JP Morgan admits US slavery links

This, not surprisingly, comes on the heels of news of a $60 BILLION merger agreement that JP Morgan has signed with Bank One, which if approved, will form the second largest bank in the land.

So was it a grand jesture on their part to correct a wrong from the past, or just good business sense? Guess they're doing their due diligence and cleaning a few skeletons from their closet.

$60 billion. $5 million. I wonder how they came up with the $5 million dollar figure? I suspect it's the amount of pocket change the board members had lying around when they made their decision.

More later...
Paul

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