Corporate Cowardice Backfires
Wachovia Corporation's ridiculous apology for its alleged ties to slavery has backfired.

Chicago City Council aldermen are vowing to strip from Wachovia a $9.4 million loan to build affordable housing units as punishment for the bank's supposed failure to disclose that its predecessor banks were involved in slave-related business deals.

This serves as a warning to other companies that believe they can buy peace with the slave reparations movement. Wachovia thought it would be good for business to cave in to the demands of reparations activists. Now, not only is the company out of a multi-million dollar contract, it has made itself a fat new target for lawsuits and shakedowns.