New York Life Insurance Sold Slave Insurance

Banks like JP Morgan Chase and Wells Fargo accepted Slaves as Collateral

Rachel Swarns of the New York Times joins us to discuss what she discovered when she followed the money trail of one of the nation’s top financial institutions all the back to the 19th century.
.. RACHEL: In 1847, Godfrey died in the Midlothian Coal Mines. We still don’t know exactly how he died, but in New York Life’s accounting of the deaths that happened, they simply described, “burned to death.

New York Life was good for its policy. And Nicholas Mills put in a claim and within months of Nicholas Mills’ claims— three months, actually— they paid up: $337. The folks at New York Life collected a lot of information, but not information that his family, today, might wanna know, or people looking at the institution of slavery might wanna know. They did not record his last name. They did not record where he was, or if he was, buried. Simply “burned to death” and “$337 payment.”

CHENJERAI: This payment to a Southern slave owner wasn’t coming from Charleston, or Richmond, it was coming from New York.
.. And slaves were often used by people who went to a bank, wanted to get a loan, and had to, as we often do today, show some property for collateral, and would say, “okay, I got these 20 guys here. This is my collateral.”

That was a very pernicious system because, if you think it through, what happens when that guy defaults? Well, we know what happens if you default on your car loan today. The bank will come take it. The same thing happened back then.

JACK: Wait a minute. There were slave repo men?

RACHEL: There were slave repo men.

It’s very simple. You default on your loan, you have given up some collateral, the banks then become the owners of that property. And so the banks became owners of human beings, of these enslaved people. They took them, repossessed them, and tried to sell them, because it’s just like in foreclosures, you know, they don’t wanna hold on to these distressed properties. You know, they’re not in the real estate business. Banks are not really in the slave owning business.

RACHEL: We are talking about, you know, there, there are contemporary banks that have this history, you know.

CHENJERAI: Could you, could you name them?

RACHEL: So some of the banks that were involved in this business, banks who accepted slaves as collateral were J.P. Morgan Chase and Wells Fargo.
.. CHENJERAI: So this how the descendants are responding? How are the insurance companies responding to this?

RACHEL: You know, no one really wants a call from a reporter saying, talking about…. their ties to slavery. It’s, it’s just not … A lot of people are looking-


RACHEL: … for coverage from the New York Times. This is not an issue where anyone is happy about a connection.

This information about slave insurance and these records came out in the 2000s, when states and municipalities required companies to disclose their ties to this period of time. So, you know, there was some trying to say, “well this is old news, there’s no reason to delve into this.” In some ways, it’s no surprise that-
.. There was a lawsuit that was filed particularly against New York Life and other companies that was dismissed in 2004, after a judge ruled that the black plaintiffs had been unable to establish a direct link to the companies that they had sued, and that the statute of limitations had run out.

With the advance of genealogy and the digitization of records, it’s now possible, difficult, but possible, to trace these people, and their descendants to the present day.
.. JACK: And in terms of just Americans coming to grips with this history, how should we- how do we tell that story?

RACHEL: You know, I think, with a lot of these issues, you know, there is the moral question, right? And what do we do with that, as, as Americans? It is simply true that African Americans were not paid for labor, right? For a long time. (laughing).
.. Ta-Nehisi Coates obviously did that really provocative piece about reparations and arguing for reparations. And he actually was at a conference and he was talking about that debate in American society and saying… You know people were saying, “Well, what would it look like?” and he said, “You know, we can’t really talk about what reparations looks like if there is no consensus that there was a debt.”

And I think that’s where America is right now is trying to figure out is there a debt? And part of the work that I do, and the work that a lot of people are doing in this area and looking at these kinds of connections between slavery and today, is just illuminating those kinds of connections.

Annual Coal Report

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Trump’s Diminishing Power and Rising Rage

None of Trump’s extremist policy ideas has received public support. The public opposed last year’s

  1. Republican-backed corporate tax cut, Trump’s
  2. effort to repeal the Affordable Care Act (Obamacare), his
  3. proposed border wall with Mexico, the decision to
  4. withdraw from the Iran nuclear agreement, and the
  5. imposition of tariff increases on China, Europe, and others.
  6. At the same time, contrary to Trump’s relentless promotion of fossil fuels (coal, oil, and gas), the public favors investments in renewable energy and remaining in the Paris climate agreement.

.. Trump has tried to implement his radical agenda using three approaches.

1) The first has been to rely on the Republican majorities in the two houses of Congress to pass legislation in the face of strong popular opposition. That approach succeeded once, with the 2017 corporate tax cut, because big Republican donors insisted on the measure, but it failed with Trump’s attempt to repeal Obamacare, as three Republican senators balked.

.. 2)  The second approach has been to use executive orders to circumvent Congress. Here the courts have repeatedly intervened, most recently within days of the election, when a federal district court halted work on the Keystone XL Pipeline, a project strongly opposed by environmentalists, on the grounds that the Trump administration had failed to present a “reasoned explanation” for its actions. Trump repeatedly and dangerously oversteps his authority, and the courts keep pushing back.

.. 3) Trump’s third tactic has been to rally public opinion to his side. Yet, despite his frequent rallies, or perhaps because of them and their incendiary vulgarity, Trump’s disapproval rating has exceeded his approval rating since the earliest days of his administration. His current overall disapproval rating is 54%, versus 40% approval, with strong approval from around 25% of the public. There has been no sustained move in Trump’s direction.

.. In the midterm elections, which Trump himself described as a referendum on his presidency, the Democratic candidates for both the House and Senate vastly outpolled their Republican opponents. In the House races, Democrats received 53,314,159 votes nationally, compared with 48,439,810 for Republicans. In the Senate races, Democrats outpolled Republicans by 47,537,699 votes to 34,280,990.

.. Summing up votes by party for the three recent election cycles (2014, 2016, and 2018), Democratic Senate candidates outpolled Republican candidates by roughly 120 million to 100 million. Nonetheless, the Republicans hold a slight majority in the Senate, where each state is represented by two senators, regardless of the size of its population, because they tend to win their seats in less populous states, whereas Democrats prevail in the major coastal and Midwestern states.

Wyoming, for example, elects two Republican senators to represent its nearly 580,000 residents, while California’s more than 39 million residents elect two Democratic senators. 

Without control of the House, however, Trump will no longer be able to enact any unpopular legislation. Only policies with bipartisan support will have a chance of passing both chambers.

.. On the economic front, Trump’s trade policies will become even less popular in the months ahead as the American economy cools from the “sugar high” of the corporate tax cut, as growing uncertainty about global trade policy hamstrings business investment, and as both the budget deficit and interest rates rise. Trump’s phony national-security justifications for raising tariffs will also be challenged politically and perhaps in the courts.

.. True, Trump will be able to continue appointing conservative federal judges and most likely win their confirmation in the Republican-majority Senate. And on issues of war and peace, Trump will operate with terrifyingly little oversight by Congress or the public, an affliction of the US political system since World War II. Trump, like his recent predecessors, will most likely keep America mired in wars in the Middle East and Africa, despite the lack of significant public understanding or support.

.. Nonetheless, there are three further reasons to believe that Trump’s hold on power will weaken significantly in the coming months. First, Special Counsel Robert Mueller may very well document serious malfeasance by Trump, his family members, and/or his close advisers. 

.. Second, the House Democrats will begin to investigate Trump’s taxes and personal business dealings, including through congressional subpoenas. There are strong reasons to believe that Trump has committed serious tax evasion (as the New York Times recently outlined) and has illegally enriched his family as president (a lawsuit that the courts have allowed to proceed alleges violations of the emoluments clause of the Constitution). Trump is likely to ignore or fight the subpoenas, setting the stage for a major political crisis.

.. Third, and most important, Trump is not merely an extremist politician. He suffers from what author Ian Hughes has recently called “a disordered mind,” filled with

  • hate,
  • paranoia, and
  • narcissism.

According to two close observers of Trump, the president’s grip on reality “will likely continue to diminish” in the face of growing political obstacles, investigations into his taxes and business dealings, Mueller’s findings, and an energized political opposition. We may already be seeing that in Trump’s erratic and aggressive behavior since the election.

.. The coming months may be especially dangerous for America and the world. As Trump’s political position weakens and the obstacles facing him grow, his mental instability will pose an ever-greater danger. He could explode in rage, fire Mueller, and perhaps try to launch a war or claim emergency powers in order to restore his authority. We have not yet seen Trump in full fury, but may do so soon, as his room for maneuver continues to narrow. In that case, much will depend on the performance of America’s constitutional order. 

The World Is Our Field of Practice: Angel Kyodo Williams

for us to transform as a society, we have to allow ourselves to be transformed as individuals. And for us to be transformed as individuals, we have to allow for the incompleteness of any of our truths and a real forgiveness for the complexity of human beings and what we’re trapped inside of, so that we’re both able to respond to the oppression, the aggression that we’re confronted with, but we’re able to do that with a deep and abiding sense of “and there are people, human beings, that are at the other end of that baton, that stick, that policy, that are also trapped in something. They’re also trapped in a suffering.” And for sure, we can witness that there are ways in which they’re benefiting from it, but there’s also ways, if one trusts the human heart, that they must be suffering. And holding that at the core of who you are when responding to things, I think, is the way — the only way we really have forward; to not just replicate systems of oppression for the sake of our own cause.

.. And so even our sense of what pains us and what makes us feel shame, feel guilt, feel awkwardness, feel put-upon by people, feel disempowered, has to do with the external information and cues that we have received. And they’re moving at an incredible rate of speed. And, for the most part, we almost never get the opportunity to observe them and sort through them — kind of like that drawer that collects everything in your house.

MS. TIPPETT: I have a few of those.

REV. WILLIAMS: Yeah, where you say, “Oh, but wait a minute, someone lived in this house before me,” in essence. “And some of that stuff is not mine. Actually, this is not mine. That’s my mom’s. This is not mine; that’s the inheritance of white supremacy,” or, “That’s the inheritance of generations of oppression and marginalization that subjects me to habitually feeling less-than, even if the current situation has no intent to make me feel that way.” And we have no real way of being able to discern what is mine, what is yours, what are we holding collectively, what have I inherited, what have I taken on as a measure of protection, of a way to cope at some point in my life or past lives, that I no longer need?

.. because what we first are confronted with is just the assault of the amount of thoughts and the mixed messages that just inhabit our body and our mind and our experience on an ongoing basis — that when we sit, the first thing we’re met with is not quiet or calm or peace. The first thing we’re met with is, “Oh, my God. Who is in here, and why won’t they shut up? How do I get them to stop?” And not only is something and someone and everyone speaking to me, it’s mixed messages. Things don’t agree with each other. I don’t agree with my own truth. I’m having arguments in here that are not my arguments, they are someone else’s arguments. They’re my parents’ arguments.

Sitting lets us just, first of all, recognize that we are this massive collection of thoughts and experiences and sensations that are moving at the speed of light and that we never get a chance to just be still and pause and look at them, just for what they are, and then slowly to sort out our own voice from the rest of the thoughts, emotions, the interpretations, the habits, the momentums that are just trying to overwhelm us at any given moment.

And when I say “trying to overwhelm us,” that’s really a key thing to understand, because that means that there’s an “us.” There’s a core and deep and abiding “us” that is being overwhelmed by something that’s actually not us. And when we become aware of it, we’re like: “Oh, I actually have some choice here.”

.. I had to bring into the language of my perception of the world; and that love was not to be limited to my bedroom or my family and just people that I thought that I liked; that what I was doing in the past and what we often do and what our culture calls us to do is to use love to be a quantifier of “Do I have a preference for you?” [laughs]

MS. TIPPETT: That’s really well put.

REV. WILLIAMS: “Am I aligned and in agreement and affinity? Are you reflecting back at me what I want to be reflected back at me? And if you are, and if you are enhancing my idea of myself, [laughs] then I love you.” And bell opened up the idea that that was a very limited way of understanding — and she still does — that that’s a limited way of understanding love.

The way that I think of love most often, these days, is that love is space.

MS. TIPPETT: Say some more about that. What do you mean?

REV. WILLIAMS: It is developing our own capacity for spaciousness within ourselves to allow others to be as they are — that that is love. And that doesn’t mean that we don’t have hopes or wishes that things are changed or shifted, but that to come from a place of love is to be in acceptance of what is, even in the face of moving it towards something that is more whole, more just, more spacious for all of us. It’s bigness. It’s allowance. It’s flexibility. It’s saying the thing that we talked about earlier, of “Oh, those police officers are trapped inside of a system, as well. They are subject to an enormous amount of suffering, as well.

I think that those things are missed when we shortcut talking about King, or we shortcut talking about Gandhi, or we shortcut talking about what Aung San Suu Kyi was doing at some point. We leave out the aspects of their underlying motivation for moving things, and we make it about policies and advocacy, when really it is about expanding our capacity for love, as a species.

MS. TIPPETT: That’s so interesting, to just focus on that word, “movement” — because again, if we just take a reality base, you don’t move people by hating them or criticizing them. And you don’t always move people by loving them, but you don’t have a chance of doing it with the other tools. But I’m also thinking so hard at the moment — you’re right, we haven’t even seen this aspect of that history, even the history that’s not so long ago. I sometimes have this feeling that we are only now growing into, for many reasons, the aspect of consciousness here, what you’re talking about — the real human work, without which those political changes are fragile.

.. REV. WILLIAMS: We’re at this unique time. I’m surprised, actually, that more people aren’t talking about it. I think I may have glimpsed an article that I disciplined myself to not read. But we are at a time, so incredibly unique in human history, where there is a meaningful number of us that are not driven by mere survival, and we are not defined by the work that we do or the place from which we come. We are able to be transient. We can move around places. We can create meaning out of things and ways of being and work that we choose to do. And we can recreate it, over and over again. We’re not defined by where we are or what we do. We can make meaning out of it, but we are not defined by it in a way that former cultures and societies that were limited in transportation and had a necessity to be able to put food on the table, and so we farmed, and so we did a whole bunch of things that were about fundamental necessities.

.. MS. TIPPETT: You just inherited identities from — all kinds of identities from your kin.

REV. WILLIAMS: And they’re inherited. That’s exactly right, which is part of our great conflict in this country right now. We are running into the conflict between people that inhabit an inherited identity with the place that they are — coal-mining country, and the work that they do as a result of the place that they are — up against people that have values and ways of perceiving the world that have shifted because they are not identified by their place and the work that they do in the same way that location and a fixed place tells you who you are and how you be in the world.

And that conflict, and the values that come from those two disparate locations, is the conflict that we are up against right now — in this country, in particular, but also in other places in the world.

MS. TIPPETT: All over, yeah. It’s global.

REV. WILLIAMS: We are in this amazing moment of evolving, where the values of some of us are evolving at rates that are faster than can be taken in and integrated for peoples that are oriented by place and the work that they’ve inherited as a result of where they are.

MS. TIPPETT: Yeah, and who are in survival mode.

REV. WILLIAMS: And who are in survival mode as a result of that, and so our values and what’s acceptable to us — enough of us — is shifting at a pace that is just outside of some of our ability to even take in. And the problem is — that’s always been true, but the problem is, now we have a meaningful number, a substantive number of people that have those rapidly evolving values in confrontation with people that are, understandably, still working with the location-, survival-based orientation. This means a lot of things for us. This means that, in terms of values, we can be more spacious. There are many of us that can afford, literally, to be OK with people that are really, really different. In fact, we can be curious about it, because our sense of threat is diminished, because our identity is not prescribed by sameness and being afforded belonging because of sameness.

Our own identities have evolved in such a way that, because we’re not merely trying to survive — I’m not saying we’re not trying to pay our rent and everything, but because we’re not identified with merely trying to survive, our sense of survival, our sense of thriving is embedded in a sense of movement and spaciousness and increasing allowance for more and more difference that is in direct conflict with people that are in a space-time continuum that is still place-based, survival-based, get-food-on-the-table-based. “If I don’t cut off the top of this mountain, where will I go? If those people are not beneath me, how will I know my own value?” Et cetera, et cetera.

.. It is part of it, to go through the fits and the denial. There’s a death happening. There is something dying in our society, in our culture, and there’s something dying in us individually. And what is dying, I think, is the willingness to be in denial. And that is extraordinary. The willingness to be in denial is dying in a meaningful number of us, the tipping point. It’s always been happening, and when it happens in enough of us, in a short enough period of time at the same time, then you have a tipping point, and the culture begins to shift. And then what I feel like people are at now is, “No, no, bring it on. I have to face it; we have to face it.” We have to face it; I also think, what people know is that, short of a nuclear war, we’ll survive it.