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Other People's Money and How The Bankers Use It

Other People's Money and How The Bankers Use It

Paperback (04 Apr 2021)

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Publisher's Synopsis

Book Excerpt: le men possessed of large fortunes; but the most potent factor in their control of business is not the possession of extraordinary ability or huge wealth. The key to their power is Combination -- concentration intensive and comprehensive -- advancing on three distinct lines: First: There is the obvious consolidation of banks and trust companies; the less obvious afhliations -- through stockholdings, voting trusts and interlocking directorates -- of banking institutions which are not legally connected; and the joint transactions, gentlemen's agreements, and "banking ethics" which eliminate competition among the investment bankers.Second: There is the consolidation of railroads into huge systems, the large combinations of public service corporations and the formation of industrial trusts, which, by making businesses so "big" that local, independent banking concerns cannot alone supply the necessary funds, has created dependence upon the associated New York bankers.But combination, howeverRead Mor

Book information

ISBN: 9798719919324
Publisher: Independently Published
Imprint: Independently Published
Pub date:
DEWEY: 332.10973
Language: English
Number of pages: 298
Weight: 694g
Height: 280mm
Width: 216mm
Spine width: 16mm