Posted on June 7, 2005

Ties To Slavery Could Cost Firm City Contract

Gary Washburn, Chicago Tribune, June 4, 2005

The chairman of the City Council’s black caucus said Friday he will ask the council to void a housing financing deal with a unit of Wachovia Corp., charging that the company lied earlier this year when it denied any historical ties to slavery.

“I think they ought to be punished, and I think we ought to send a message so that anybody else who comes here has got to tell the truth,” said Ald. Ed Smith (28th). “It is a message to everybody else; if you lie, you are out.”

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An apology by Wachovia’s chairman on Wednesday did little to satisfy unhappy aldermen.

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[Editor’s Note: For more on this story, click here.]

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