There is a biblical concept that suggests a person found guilty of thievery make atonement to the victim in the form of actual compensation, either of property or monetary holdings. Since slavery was a crime against Blacks and humanity all together, restitution in the form of words, such as "I'm sorry" is not enough, not according to the laws of humankind.

In a story out of Philadelphia, PA. "Wachovia, the nation's fourth-largest bank, has asked African Americans to forgive the company for its history of owning slaves and using them as loan collateral."

"We apologize to all Americans, and especially to African Americans and people of African descent," Wachovia Chairman Kennedy Thompson said in a statement Wednesday.

That is all fine but what about Black America's financial situation to date as a result of this company profiting from the labor of our ancestors. Will there be any effort to reverse the poverty-plagued lives of generations of Black families who suffered from the discriminatory practices of banking institutions?

Is there time to reverse the social-economic clock of Black America in areas of education, employment, health, justice and all other areas of American life that stripped us of the rights to live like normal people in this country?

The scars of slavery run much, much deeper than what an apology can cure. The gesture may be sincere and accepted by some, but according to real life and the laws of the Most High, only retribution will do to wash the blood of guilt from the white man's hands. The story goes on to say:

"Wachovia, based in Charlotte, came clean about the activities of its predecessor banks and their officers -- including such prominent Philadelphians as Revolutionary War financier Robert Morris -- under pressure from the cities of Philadelphia, Chicago and Los Angeles, which have passed laws calling on city contractors to disclose any history of making money from slavery.

Wachovia said, it plans to help "preserve the African American story" by supporting "community organizations that are experts in furthering awareness and education of African American history."

Wachovia's predecessor bank in Georgia owned at least 162 slaves, and a South Carolina predecessor used more than 500 as collateral for loans, seizing some when their owners defaulted, according to a 111-page report prepared for Wachovia by History Factory, a corporate-research firm in Chantilly, Va."

Wachovia predecessors Philadelphia National Bank and Girard National Bank also "profited more indirectly from slavery" because they were run by, or invested in, people who made money from slavery under a broad test that included holding "U.S. government bonds during years when the United States permitted and profited from slave labor directly through taxation," according to the report.

Source From: http://www.news-record.com/news/local/wachovia_060205.htm

© June 2005 by C.R. Hamilton