65:) illustrate this financial elite. These families and the firms which they controlled were bound together by religious and social factors, and by the prevalence of intermarriage. These personal ties fulfilled real business functions before the advent of institutional organization in the 20th century. Nevertheless, antisemitic elements often falsely targeted them as key players in a supposed Jewish cabal conspiring to dominate the world.
173:. Jonathan Knee postulates that Jews were forced to focus on the development of investment banks because they were excluded from the commercial banking sector. In many cases, the efforts of Jewish immigrants to start banks was enabled due to the substantial support of their Jewish banking connections in Europe. Several major banks were started following the mid 1800s by Jews, including
241:
efforts to build a canal in Panama as well as the subsequent
American endeavor. In the 1890s J.& W. Seligman & Co. Inc. underwrote the securities of newly formed trusts, participated in stock and bond issues in the railroad and steel and wire industries, and invested in Russia and Peru, and in American in shipbuilding, bridges, bicycles, mining, and other enterprises. In 1910
305:
261:
to blame the perceived evils of capitalism and industrialism on Jews because of their alleged racial/religious inclination for financial exploitation and, more specifically, because of the alleged financial manipulations of Jewish financiers such as the
Rothschilds. Although Jews played only a minor
240:
transitioned from merchandising to banking, setting up operations in New York, St. Louis, and
Philadelphia as well as Frankfurt, Germany, London and Paris that gave European investors an opportunity to buy American government and railroad bonds. In the 1880s the firm provided financing for French
32:
have played a major role in
American finance or "Wall Street", both at investment banks and investment funds. German Jewish bankers began to assume an important role in American finance in the 1830s when government and private borrowing to pay for canals, railroads and other internal improvement
915:
348:(president of Harvard university) who suggesting that the Jewish bankers wielded an "international and interlocking Jewish money power". Schiff took steps to combat these viewpoints in the business world, and attempted to educate Eliot and others who shared those viewpoints.
762:
862:
745:
950:
361:
Arthur
Hertzberg argues that, contrary to the claims that Jews controlled banking and finance, the opposite was true. Hertzberg asserts that Jews were a minority on Wall Street and that there was an "effective ban on allowing Jews into the banking business."
293:, bonds which that syndicate was now selling for a profit, the Populists used it as an opportunity to uphold their view of history, and prove to the nation that Washington and Wall Street were in the hands of the international Jewish banking houses.
232:
Jewish banking houses were instrumental to the process of capital formation in the United States in the late 19th and early 20th century. For example, the firm of Kuhn, Loeb & Co. played a prominent role in the area of railway finance.
807:
165:
In the middle of the nineteenth century, a number of German Jews founded investment banking firms which later became mainstays of the industry. Most prominent Jewish banks in the United States were
296:
Another focus of anti-Semitic feeling was the allegation that Jews were at the center of an international conspiracy to fix the currency and thus the economy to a single gold standard.
884:
By the 1890s anti-Semitic feeling had crystallized around the suspicion that the Jews were responsible for an international conspiracy to base the economy on the single gold standard.
932:
413:
814:
The contribution of such Jewish banking houses to the process of capital formation in the United States in the late 19th and early 20th century was considerable by any standard.
769:|quote=Jewish banking houses such as those of the Guggenheims, Wertheims, and Baches actually received financial and human resources from Jewish bankers in Europe.}}
88:
are large hedge funds cofounded by Jews. They have also played a pivotal role in the private equity industry, co-founding some of the largest firms, such as
278:
1005:
249:
gave control of his company to the
Seligmans and Lee, Higginson & Co. in return for underwriting $ 15 million worth of corporate notes.
326:
258:
338:
317:
was perhaps the most influential Jewish banker in the United States at the end of the nineteenth century. He was president of
975:
420:, and claimed that "in the United States today, the Gentiles have the slips of paper while the Jews have the lawful money."
334:
68:
Since the late 20th century have Jews played a major role in the hedge fund industry, according to
Zuckerman (2009) Thus
330:
237:
222:
221:
Several Jewish bankers played key roles in providing government financing for both sides of the Civil war: Speyer and
991:
77:
246:
226:
121:
116:
who lived in colonial New York during the second half of the 17th century. In the 1700s, Jewish bankers included
457:
137:
85:
151:
Haym
Solomon in the Revolutionary war (see "Transactions of the Jewish Historical Society of America,"passim),
101:
408:
the notion of a Jewish financial conspiracy. Such views were also shared by some prominent politicians;
401:
371:
322:
262:
role in the nation's commercial banking system, the prominence of Jewish investment bankers such as the
73:
602:
69:
271:
141:
129:
494:
Barry E. Supple, "A Business Elite: German-Jewish
Financiers in Nineteenth-Century New York,"
971:
933:"Streetscapes: The Bank of the United States in the Bronx; The First Domino In the Depression"
409:
290:
263:
242:
674:
662:
383:
345:
282:
206:
133:
89:
397:
198:
194:
170:
166:
50:
42:
658:
210:
182:
97:
58:
34:
617:
481:
Vincent P. Carosso, "A Financial Elite: New York's German-Jewish
Investment Bankers,"
666:
417:
375:
174:
93:
62:
46:
29:
314:
308:
286:
267:
202:
190:
178:
117:
81:
38:
257:
Beginning in the early 1880s, declining farm prices also prompted elements of the
747:
The Accidental Investment Banker: Inside the Decade That Transformed Wall Street
214:
125:
54:
113:
678:
379:
318:
186:
917:
The Jews in America: four centuries of an uneasy encounter : a history
136:
in 1784. The most prominent Jewish banker of the eighteenth century was
405:
17:
304:
37:(Rothschild's agent in New York and a leading Democrat), Philip Speyer,
796:
J. C. Schwab, "Confederate States of America," p. 102, New York, 1901)
274:
in New York City, made the claims of anti-Semites believable to some.
670:
511:
Antisemitism: A Historical Encyclopedia of Prejudice and Persecution
864:
Conspiracy theories in American history: an encyclopedia, Volume 1
382:
branch is said to have started the collapse of banking during the
303:
277:
The Morgan Bonds scandal injected populist anti-Semitism into the
429:
ADL rebukes Rush Limbaugh for comments relating Jews and banking.
1006:"ADL Demands Apology for Time Magazine Sept 9/11 Memorial Cover"
416:, blamed Jews for president Roosevelt's decision to abandon the
601:
See Jamie Johnson, "Wasps Stung over Renaming of the N.Y.P.L."
806:
Baron, Salo Wittmayer; Kahan, Arcadius; Gross, Nachum (1975).
683:
The New Crowd: The Changing of the Jewish Guard on Wall Street
644:
R. William Weisberger, "Jews and American Investment Banking,"
764:
The transplanted: a history of immigrants in urban America
616:
Robin Pogrebin, "Donor Gives Lincoln Center $ 10 Million",
952:
New York Jews and the Great Depression: Uncertain Promise
970:. Indianapolis: Indiana University Press. p. 174.
849:
International directory of company histories: Volume 61
414:
United States House Committee on Banking and Currency
344:
Schiff was offended by contemporary non-Jews such as
472:(1967) pp 8-9, 96-108, 128-42, 233-36, 331-37, 343,
470:"Our Crowd": The Great Jewish Families of New York
681:) and numerous others see Judith Ramsey Ehrlich,
33:increased rapidly and significantly. Men such as
575:"The 400 Richest Americans:#355 Noam Gottesman"
562:"Schechter school mourns founder Golda Och, 74"
329:, and he took part in the reorganization of the
112:An early Jewish banker in the United States was
285:had sold bonds to a syndicate which included
8:
696:The Partnership: The Making of Goldman Sachs
333:in 1896-99, and at various times aided the
992:"ADL Rebukes Limbaugh for remarks on Jews"
968:America, Its Jews, and the Rise of Nazism
920:. Columbia University Press. p. 233.
378:bank that failed in 1930. The run on its
955:. Syracuse University Press. p. 11.
767:. Indiana University Press. p. 134.
750:. Random House Digital, Inc. p. 31.
498:Summer 1957, Vol. 31 Issue 2, pp 143-177
445:
536:Led by Steven Cohen; Bruce Zuckerman,
432:ADL demands apology from Time Magazine
483:American Jewish Historical Quarterly,
7:
931:Gray, Christopher (18 August 1991),
698:(2nd ed. 2009) pp 29, 45, 52, 91, 93
648:June 1991, Vol. 43 Issue 1, pp 71-75
590:The Golden Age of Jewish Achievement
321:and financed railroads such as the
281:. It was disclosed that President
24:
327:Louisville and Nashville Railroad
551:The Jewish Role In American Life
538:The Jewish Role In American Life
525:The Jewish Role In American Life
880:America, religions and religion
878:Albanese, Catherine L. (1981).
485:1976, Vol. 66 Issue 1, pp 67-88
339:Western Union Telegraph Company
41:(at Kuhn, Loeb & Company),
1:
335:Westinghouse Electric Company
331:Baltimore & Ohio Railroad
966:Arad, Gulie Ne'eman (2000).
809:Economic history of the Jews
400:in the late 1930s attacked
140:, the key financier of the
78:Och-Ziff Capital Management
1027:
914:Hertzberg, Arthur (1989).
744:Knee, Jonathan A. (2007).
279:1896 presidential campaign
253:Populist targeting of Jews
247:General Motors Corporation
229:financed the Confederacy.
227:Emile Erlanger and Company
646:American Jewish Archives,
366:Bank of the United States
949:Wenger, Beth S. (1999).
496:Business History Review,
225:financed the Union, and
86:Renaissance Technologies
867:. ABC-CLIO. p. 82.
685:(1990), pp. 4, 72, 226.
454:Encyclopaedia Judaica.
452:"Banking and Bankers,"
861:Knight, Peter (2003).
564:New Jersey Jewish News
396:The radio speeches of
311:
882:. Wadsworth Pub. Co.
847:Jay P. Pederson, ed.
761:Bodnar, John (1991).
402:Franklin D. Roosevelt
372:Bank of United States
323:Pennsylvania Railroad
307:
74:Soros Fund Management
509:Bankers, Jewish" in
468:Stephen Birmingham,
272:Kuhn, Loeb & Co.
70:SAC Capital Advisors
238:The Seligman family
236:In the late 1860s,
142:American Revolution
937:The New York Times
694:Charles D. Ellis,
657:On the careers of
507:Richard Levy, ed.
412:, Chairman of the
312:
243:William C. Durant
156:Nineteenth century
130:Alexander Hamilton
604:Vanity Fair Daily
588:Steven L. Pease.
549:Bruce Zuckerman,
523:Bruce Zuckerman,
410:Louis T. McFadden
352:Twentieth century
291:Rothschilds house
259:Populist movement
245:of the fledgling
122:Revolutionary war
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663:Salomon Brothers
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527:(2009) pp 64, 70
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513:(2005) pp 55-56
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479:
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384:Great Depression
346:Charles W. Eliot
283:Grover Cleveland
207:Salomon Brothers
171:commercial banks
167:investment banks
134:Bank of New York
1026:
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812:. p. 224.
805:
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795:
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734:Krefetz p 54-55
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398:Father Coughlin
394:
368:
359:
354:
302:
266:in Europe, and
255:
223:Seligman family
220:
211:Bache & Co.
199:Lehman Brothers
195:Jacob H. Schiff
163:
158:
147:
110:
51:Lehman Brothers
43:Joseph Seligman
26:
22:
21:
20:
12:
11:
5:
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997:
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829:pp. 231-8, 350
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659:John Gutfreund
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621:Sept. 30, 2009
619:New York Times
609:
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456:(2nd ed. 2008)
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183:Marcus Goldman
169:, rather than
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109:
108:Colonial times
106:
98:Warburg Pincus
59:Marcus Goldman
35:August Belmont
23:
15:
14:
13:
10:
9:
6:
4:
3:
2:
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904:Cohen, p 52-3
901:
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851:(2004) p 141
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832:
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778:Krefetz, p 46
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725:Sombart, p 59
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716:Krefetz, p 46
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668:
667:Felix Rohatyn
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635:(1994) p. 661
634:
631:Ron Chernow,
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592:(2009) p. 510
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579:Sept 17. 1008
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418:gold standard
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376:New York City
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175:Goldman Sachs
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138:Robert Morris
135:
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103:
99:
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94:Carlyle Group
91:
87:
83:
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75:
71:
66:
64:
63:Goldman Sachs
60:
56:
52:
48:
47:Philip Lehman
44:
40:
36:
31:
30:American Jews
27:
19:
1000:
986:
967:
961:
951:
944:
936:
926:
916:
909:
900:
891:
883:
879:
873:
863:
856:
848:
843:
838:Perry, p 148
834:
826:
825:Birmingham,
821:
813:
808:
801:
792:
787:Baron, p 224
783:
774:
763:
756:
746:
739:
730:
721:
712:
707:Baron, p 223
703:
695:
690:
682:
653:
645:
640:
633:The Warburgs
632:
627:
618:
612:
606:May 19, 2008
603:
597:
589:
584:
576:
571:
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558:
553:(2009) p. 72
550:
545:
540:(2009) p. 71
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532:
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495:
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482:
477:
469:
464:
453:
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435:
395:
388:
369:
360:
343:
315:Jacob Schiff
313:
309:Jacob Schiff
300:Jacob Schiff
295:
287:J. P. Morgan
276:
268:Jacob Schiff
256:
235:
231:
219:
213:(founded by
203:Henry Lehman
191:Solomon Loeb
179:Samuel Sachs
177:(founded by
164:
146:
132:founded the
118:Haym Solomon
111:
82:GLG Partners
67:
39:Jacob Schiff
28:
25:
406:New Dealand
264:Rothschilds
215:Jules Bache
126:Isaac Moses
55:Jules Bache
977:0253338093
669:(based at
440:References
337:, and the
114:Asser Levy
90:Blackstone
827:Our crowd
679:Citigroup
319:Kuhn Loeb
187:Kuhn Loeb
128:who with
124:era, and
325:and the
289:and the
18:User:DGG
161:Banking
974:
671:Lazard
577:Forbes
458:online
374:was a
209:, and
100:, and
57:, and
895:Cohen
392:1930s
380:Bronx
357:1920s
270:, of
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972:ISBN
677:(of
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