Insensitive and Insulting
Lehman Brothers was being "insensitive and insulting" when one of its officials suggested -- following disclosures that it had ties to slavery when it was legal -- that "the Lehman Brothers in the 1850s is not the company that it is today," reports the Chicago Sun-Times.
A Chicago alderman, Dorothy Tillman, wants Carole Brown, a senior vice president of Lehman Brothers, to resign her post as chairwoman of the Chicago Transit Authority. Tillman demanded that Brown apologize for allowing herself to be used to "sanitize the reputation of a company built on the backs of her own people," as the Sun-Times put it.
In an affidavit filed in connection with its role as co-senior manager of a $145 million O'Hare Airport bond issue, Lehman Brothers admitted that the three brothers who founded the firm's predecessor in Montgomery, Ala., in 1850 purchased a female slave named Martha four years later. Historical records also suggest that the brothers "may have personally owned other slaves," the company stated.
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