by R. Cort Kirkwood, The New American:
California’s Democratic Governor Gavin Newsom has signed a bill that would force any of the state’s $100 million-plus companies 62 years old or more to examine its records for ties to slavery.
Signed September 30, the bill is supposedly an attempt to get at the “truth” about the companies and their putative connection to the slavery business.
The targeted companies have less than three years to comply with the dopey law. The measure comports with the push to give blacks reparations for slavery despite California’s entering the union as a free state.
TRUTH LIVES on at https://sgtreport.tv/
Newsom has signed a number of bills he thinks will ameliorate the pain of slavery, which ended in the United States in 1865.
Gov. Gavin Newsom signed a first-in-the-nation law that requires large companies to disclose if they or their predecessors profited from chattel slavery. https://t.co/jqY2Q5PPD7
📸 Semantha Norris pic.twitter.com/pt853Jw4JQ
— CalMatters (@CalMatters) October 2, 2026
Why the Bill
Newsom and a gang of racialist lawmakers are gunning for big businesses because some might have profited even remotely from slavery. The main concern seems to be insurance companies that insured slave owners against the loss of their human property. The far-left governor signed the bill on his podcast.
“Numerous American businesses across various industries, including, but not limited to, insurance, banking, tobacco, cotton, sugar, railroads, and shipping, reaped substantial profits by exploiting the uncompensated labor of enslaved persons,” the law says:
Consequently, these businesses and the individuals managing them directly profited from the labor of enslaved persons or directly benefited from insurance policies that insured enslaved persons. This intertwining of economic interests highlights the extent to which the exploitation of enslaved persons permeated the foundation of various American industries. However, very few American industries and the underlying businesses and individuals have adequately acknowledged their connection to the enslavement era.
Many California residents are descendants of enslaved persons and their ancestors were defined as property, dehumanized, separated from their families, coerced into performing labor without appropriate compensation or benefits, and were assaulted and abused.
The bill focuses on the insurance business, but includes banking, tobacco, cotton, sugar, railroads, and shipping.
“Insurance policies from the enslavement era, which have been discovered in the archives of several insurance companies, document insurance coverage to slaveholders for damage to or the death of enslaved persons,” the law continues:
In some cases, existing insurance firms or their predecessor firms issued these policies. These insurance policies, loan documents, and other documents and records provide evidence of ill-gotten profits from slavery. Slaveholders and those involved in the slave trade, in turn, profited from the uncompensated labor of enslaved persons, even if such profits have long since been redistributed to shareholders. Industries that profited in this manner may include, but not be limited to, capitalized insurers, financial service providers, textile companies, tobacco companies, railroad companies, shipping companies, the sugar industry, and entities in other industries whose successors in interest remain in existence today.
To rectify this manifest injustice, Californians, including the descendants of slaves, need “complete transparency” about companies that might have profited from what was called the “peculiar institution.”
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