In an interview with the Los Angeles Times, LA Mayor Eric Garcetti said George Soros’ foundation expressed interest in funding a pilot reparations program for Black Angelenos.
Per the report:
In a Friday interview with The Times, Garcetti said many private entities, including Open Society Foundations, a grant network founded by billionaire George Soros, had expressed interest in being involved in funding.
Exactly who would benefit from a local reparations program and how any financial compensation would be made are details the commission would have to decide. Garcetti said he hoped corporations and banks would participate “to begin to make some amends and to push this movement forward.”
This would not be an outlet for these institutions to “buy forgiveness but to reckon with a complicity that we saw in American capitalism, slavery and post-slavery racism,” Garcetti said.
Council member Mark Ridley-Thomas said in a statement that reparations “will not undo the decades of historic injustices, but we cannot move forward unless we are intentional about identifying solutions to advance racial equity.”
Garcetti’s announcement came one day after President Biden signed a bill that made Juneteenth a national holiday to commemorate the moment a Union general told enslaved Black Americans in Galveston, Texas, that the Civil War had ended and emancipation was a reality.