The way you wrote it sounded like these Jewish bankers (Rothschilds, Warburgs, etc.) caused the problems because they didn't want to bail out another Jewish banker for some "not one of us" reason. This is not what the chapter said at all.
First, none of the bankers referenced by name at the meeting were Jewish. In fact the name Warburg and Rothschild are not even mentioned (they had no banks in NY at the time). Second, the reference to "a Jew of the wrong sort" was not a Jew vs. Jew thing but a perception of Jewish bankers by non-Jewish ones. "...for all of the anti-semitic bigotry of old dinosaurs like Jack Morgan, these [Jewish] firms were held in very high regard...". The Bank of the US was not held in high regard and was put down by two named bankers who's feelings about Jews in general was far from positive. Third, the statement about "many of the big NY bankers being Jewish" - there was no Rothschild or Warburg banks in NY. Felix Warburg was a partner in a US bank and Eric Warburg founded a private equity firm. Neither would have fought against the Bank of the US as both were very active in community services (including Jewish ones). So the bottom line is a combination of misreading and misremembering on your part. Or at least a mis-writing of what you remembered to make it sound way different than what was in the book. No big Jewish money conspiracies here folks. Move along. :) On Sun, Mar 27, 2011 at 11:36 PM, Gruss Gott <[email protected]> wrote: > > Gruss Gott <[email protected]> wrote: > > Michael Dinowitz <[email protected]> wrote: > >> I think you're going to have to go into more details on this in another > >> thread. > >>> > >>> I also read Lords of Finance on vacation too > > > > Ah, the thing about the Bank of the US, forgot about that. > > I'm just going from memory, but basically - from the book - the bank > that started the run on the banks in 1930 was The Bank of the US, a > textile bank in NY started by this guy named Marcus who was a Jewish > garment worker; i.e., he started the bank for other garment workers > (who were mostly Jews as I understand it). > > The story goes that Marcus' son wasn't running the bank too well > around 1930 (think Madoff-lite). One morning a garment worker walks > in to exchange his $200/share stock for $200 as the bank had promised > (only now it was only worth about $40). > > The bank tried to convince him otherwise and told him to come back > later and then if he still wanted his money he could have it. > > The guy left, was pissed and so told the press that the bank didn't > have any money. By mid-day there was a run on the bank that had > mounted police holding back depositors. This panic spread eventually > melting down the US economy. > > As was customary for all finance crises of the time, the big NY > bankers (many of them Jews: Warburg, Rothchilds, etc) assembled to > consider bailing out the bank. At the last moment, after they'd all > agreed to bail out the bank, one of them pulled the plug on the deal > (can't remember which) because he didn't want to help out Marcus' son. > > It was implied in the book that this was due, in part, because Marcus > was of poor garment worker Jew stock and not of the same heritage as > the banking Jews ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~| Order the Adobe Coldfusion Anthology now! http://www.amazon.com/Adobe-Coldfusion-Anthology/dp/1430272155/?tag=houseoffusion Archive: http://www.houseoffusion.com/groups/cf-community/message.cfm/messageid:335564 Subscription: http://www.houseoffusion.com/groups/cf-community/subscribe.cfm Unsubscribe: http://www.houseoffusion.com/groups/cf-community/unsubscribe.cfm
