Wachovia's Apology for Slavery Ties Backfires

After giving into political correctness, Wachovia is realizing that its well-intentioned apology for having ancient ties to slavery is backfiring. Last week, Wachovia Bank disclosed that the Bank of North America, a 1700s predecessor to Wachovia, was founded by Robert Morris with profits he generated from the slave trade. Q&O Blog summed it up best:

Do we all feel better now? Does this make a single difference in anyone's life? Does the fact that people who've never ever been a slave were apologized to by an institution run by people who've never owned a slave?

Now Chicago aldermen are severing business transactions with Wachovia for its historical admission. Make no mistake - this will be a disaster for Wachovia's PR and will result in reparations to members of the black community. It has nothing to do with "racial justice" and everything to do with money.

Another reason appeasement never, ever works.