Rep. Al Green, D-Texas, wants to develop legislation that could affect how insurers and other financial institutions address their historical involvement in slavery.
Green and other lawmakers talked about ideas for legislation related to slavery during a recent hearing of the House Financial Services oversight subcommittee on the role of financial institutions in the horrors of slavery.
Berkshire Hathaway, for example, descends partly from The Valley Falls Company, a textile manufacturer owned by members of an abolitionist family, Rockman said.
But members of the abolitionist family “rarely paused to ask where their cotton came from,” Rockman said. “Virtually every cotton fiber they spun and wove would have been slave-grown and slave-picked.”
William Darity Jr., a public policy professor at Duke University, talked about the role of insurers in slavery. He noted that Aetna, AIG, Baltimore Life, Loews Corp., New York Life and Southern Mutual Insurance Company all descend from companies that protected slaveowners against the deaths of slaves.
Author(s): Allison Bell
Publication Date: 12 Dec 2022
Publication Site: Think Advisor