Wachovia Acknowledges Ties to Slavery

“Two predecessor banks of Wachovia Corp. owned slaves before the Civil War, the nation’s fourth-largest bank said Wednesday as it made an apology to black Americans.”

“The bank said incomplete records make it impossible to know how many slaves were owned by either institution, but that specific transactional records show the Georgia bank owned at least 162 slaves and the Bank of Charleston accepted at least 529 slaves as collateral on mortgaged properties or loans.”

“In 1860, there was more money invested in slavery than in business, railroads and banking combined. That gives you a sense of how big a shadow slavery casts.”

Here is an article discussing slavery and Confederate finances.

TheStateOf…slavery. Imagine how easy it would be to be rich if you owned hundreds of other people? Slavery was the “Main Event” of American capitalism, and the truth is seeping out, ever so slowly.