Slave descendants attempt to revive reparations lawsuit against 17 insurers and banks
The Associated Press
Published: September 27, 2006
CHICAGO Lawyers representing the descendants of African-American slaves asked a federal appeals court Wednesday to a revive a landmark reparations lawsuit that demands that 17 insurers and banks publicize and pay for their roles in the slave trade.
The lawsuit, which names Wall Street giants JP Morgan Chase & Co., Aetna Inc., Bank of America, Lehman Brothers and others, says the companies' predecessors issued loans to slave owners and, in some cases, owned, insured and transported slaves — all at a financial profit that helped ensure their success today.
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Editor's Note: The Fed just engineered a takeover of Bear Stearns by JP Morgan/Chase over this past weekend at $2 per share. Now Lehman Brothers faces a similar storm. Perhaps this is the start of a trend. Perhaps the implosion of the banking industry will be the catalyst which will be the beginning of the end of slavery in the modern world.