Posted on 06/09/2005 5:03:45 AM PDT by new cruelty
City Councilman W. Wilson Goode Jr. is expected to introduce legislation today requiring banks in which the city deposits money to disclose whether they have ever profited from slavery - and provide the city with a statement of financial reparations.
Goode's bill follows legislation approved earlier this year that requires firms with city contracts to research and disclose whether they garnered any profits in the past from slavery.
That measure, sponsored by Councilwoman Blondell Reynolds Brown, requires businesses to submit an affidavit within 90 days of receiving a city contract stating that they have checked their records for evidence of any such profits. If a firm does not submit the paperwork or turns over false information, it could lose its city contract.
Goode's bill would require the banks to provide an annual certification of any financial ties they may have had to slavery. If they had such ties, they must also give the city a statement of financial reparations, which would describe any new financial products or programs developed by the bank to address racial disparity in its lending and investment activities.
What an absolute bunch of nonsense!
Reminds me of something john street once said... "The brothers and sisters are running the city!"
Haven't followed Philly politics in awhile (always good for a laugh) but I did not know Goode Jr. was now involved. Looks like the rotten apple did not fall far from the tree. Does he have hundreds of suits and his very own Air Force, like the old man?
That's going to help race relations.
I would love to see all the banks and other lending instiutions respond by refusing to do business with city. The city would be shut out of the bond market and have to pay 30% interest on its loans bacuase Harry's Qwick-Cash Payday Loans is the only outfit that will do business with it.
Yeah, the white folks of today have a lot to do with slavery that ended almost 150 years ago...
Tell the city to shove their contracts up their butt!!
Street, Goode, the whole lot of them in the city of "brotherly" love are crooked racists.
And an other once great city sinks below the surface, the inmates are running the asylam.
What about the statute of limitations on civil actions?
The business community would be very well served to the the city fathers, "No" and let them scream, then tell them they don not need their business.
We are a Heavy/Highway Contractor in the NY Metro area and have made these business decisions. We have determined which owners, public and private we will not work for.
What happens when the bank's records reveal that some of their clients who were slave holders were also black?
Don't know - my family came here as indentured servants - do we get to play the game?
I wonder if the banks' higher than average write-offs on "politically-correct" loans will "count" towards the "reparations" target that Mr. Goode has in mind?
(Denny Crane: "Sometimes you can only look for answers from God and failing that... and Fox News".)
The liberty bell isn't the only thing that's cracked in the city of brotherly love.
I can see why a business would want to leave the city. I would not be surprised of philly continues to shrink in size and stature.
They have already done that. It is the Law and Wachovia has admitted to and apologized for said 300 year old blah blah blah. What Wilson Goode Jr. is going to do today is introduce legislation to require financial reparations from them!
Like his Father, he is going to drop another bomb on the city.
You sound like Jar-Jar Binks. LOL...
I'll bet that an intense investigation would show that Goode himself has profited immensely from slavery.
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