Blacks are in a unique situation in the US due to slavery. If society was 7/8th white and 1/8th black, as it had been prior to 1965, then a limited wealth redistribution could have been a tolerable cost. Hispanics have no similar claim to blacks for preference under affirmative action. In the workforce, neither should Asians and other minorities. Everyone else came here knowing what the US was and how its society functioned, both in terms of good and bad. There should be no preference in these AA quota systems for voluntary immigrants and that should include the black children of African and Caribbean immigrants.
The reason that such a grand bargain isn't struck is because no one believes that liberals will ever live up to the condition of ending it.