All the Presidents' Bankers: The Hidden Alliances that Drive American Power

All the Presidents' Bankers: The Hidden Alliances that Drive American Power

by Nomi Prins
All the Presidents' Bankers: The Hidden Alliances that Drive American Power

All the Presidents' Bankers: The Hidden Alliances that Drive American Power

by Nomi Prins

Paperback(First Trade Paper Edition)

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Overview

A groundbreaking narrative of how an elite group of men transformed the American economy and government, dictated foreign and domestic policy, and shaped world history.

Culled from original presidential archival documents, All the Presidents' Bankers delivers an explosive account of the hundred-year interdependence between the White House and Wall Street that transcends a simple analysis of money driving politics-or greed driving bankers.

Nomi Prins ushers us into the intimate world of exclusive clubs, vacation spots, and Ivy League universities that binds presidents and financiers. She unravels the multi-generational blood, intermarriage, and proté relationships that have confined national influence to a privileged cluster of people. These families and individuals recycle their power through elected office and private channels in Washington, DC.

From the Panic of 1907 to the financial crisis of 2008, this unprecedented history of American power illuminates how the same financiers retained their authoritative position through history, swaying presidents regardless of party affiliation. All the Presidents' Bankers explores the alarming global repercussions of a system lacking barriers between public office and private power. Prins leaves us with an ominous choice: either we break the alliances of the power elite, or they will break us.

Product Details

ISBN-13: 9781568584799
Publisher: PublicAffairs
Publication date: 03/24/2015
Edition description: First Trade Paper Edition
Pages: 544
Sales rank: 400,320
Product dimensions: 5.50(w) x 8.10(h) x 1.60(d)

About the Author

Nomi Prins is a journalist, speaker, respected TV and radio commentator, and former Wall Street executive. The author of six books, including All the Presidents' Bankers, Other People's Money, and It Takes a Pillage, her writing has been featured in the New York Times, Fortune, Mother Jones, Guardian, and Nation, among others. She was a member of Senator Bernie Sanders (D-VT) Federal Reserve Reform Advisory Council, and is on the advisory board of the whistle-blowing organization ExposeFacts.

Table of Contents

Cast of Main Characters ix

Preface xv

Introduction When the President Needed the Bankers 1

Chapter 1 The Early 1910s: Post-Panic Creature and Party Posturing 17

Chapter 2 The Mid-1910s: Bankers Go to War 40

Chapter 3 The Late 1910s: Peace Treaties and Domestic Politics 57

Chapter 4 The 1920s: Political Isolationism, Financial Internationalism 69

Chapter 5 1929: The Room at 23 Wall, Crash, and Big-Six Take 96

Chapter 6 The Early 1930s: Tenuous Times, Tax-Evading Titans 105

Chapter 7 The Mid- to Late 1930s: Policing Wall Street, World War II 135

Chapter 8 The Early to Mid-1940s: World War II, Bankers, and War Bucks 158

Chapter 9 The Late 1940s: World Reconstruction and Private Bankers 180

Chapter 10 The 1950s: Eisenhower's Buds, Cold War, Hot Money 196

Chapter 11 The Early 1960s: "Go-Go" Youth, Murders, and Global Finance 229

Chapter 12 The Mid- to Late 1960s: Progressive Policies and Bankers' Economy 251

Chapter 13 The Early to Mid-1970s: Corruption, Gold, Oil, and Bankruptcies 274

Chapter 14 The Late 1970s: Inflation, Hostages, and Bankers 301

Chapter 15 The Early to Mid-1980s: Free-Market Rules, Bankers Compete 319

Chapter 16 The Late 1980s: Third World Staggers, S&Ls Implode 340

Chapter 17 The Early to Mid-1990s: Killer Instinct, Bank Wars, and the Rise of Goldman Sachs 357

Chapter 18 The Late 1990s: Currency Crises and Glass-Steagall Demise 377

Chapter 19 The 2000s: Multiple Crises, the New Big Six, and Global Catastrophe 393

Glossary of Financial Terms 425

Acknowledgments 431

Notes 433

Index 503

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