Wall Street and FDR

Autorentext

Antony C. Sutton (1925-2002) was born in London and educated at the universities of London, Gottingen and California. He was a Research Fellow at the Hoover Institution for War, Revolution, and Peace at Stanford, California, from 1968 to 1973, and later an Economics Professor at California State University, Los Angeles. He is the author of 25 books, including the major three-volume study Western Technology and Soviet Economic Development.

Klappentext

Franklin D. Roosevelt is frequently described as one of the greatest presidents in American history, remembered for his leadership during the Great Depression and World War II. Antony Sutton challenges this received wisdom, presenting a controversial but convincing analysis. Based on an extensive study of original documents, he concludes that:

• FDR was an elitist who influenced public policy in order to benefit special interests, including his own.
• FDR and his Wall Street colleagues were "corporate socialists," who believed in making society work for their own benefit.
• FDR believed in business but not free market economics. Sutton describes the genesis of "corporate socialism"--acquiring monopolies by means of political influence--which he characterizes as "making society work for the few." He traces the historical links of the Delano and Roosevelt families to Wall Street, as well as FDR's own political networks developed during his early career as a financial speculator and bond dealer.

The New Deal nearly destroyed free enterprise in America, but it didn't adversely affect FDR's circle of old friends ensconced in select financial institutions and federal regulatory agencies. Together with their corporate allies, this elite group profited from the decrees and programs generated by their old pal in the White House, while thousands of small businesses suffered and millions became unemployed.

Wall Street and FDR is much more than a fascinating historical and political study. Many contemporary parallels can be drawn to Sutton's powerful presentation given the recent banking crises and worldwide governments' bolstering of private institutions via the public purse.

This classic study--first published in 1975 as the conclusion of a key trilogy--is reproduced here in its original form.

The other volumes in the series are Wall Street and the Rise of Hitler and Wall Street and the Bolshevik Revolution.

Inhalt

Part I Roosevelts and Delanos The Wall Street lineage of the Roosevelt and Delano families Politics in the Bonding Business FDR as vice president of the Fidelity & Deposit Company (1921-28) FDR: International Speculator Profiteering during the German hyperinflation of the 1920s FDR: Corporate Promoter FDR as a deal maker during the 1920s Part II The Genesis of Corporate Socialism Making society work for the few Prelude to the New Deal The Federal Reserve System and the War Industries Board Roosevelt, Hoover and the Trade Council An attempt to reform the construction industry Wall Street Buys The New Deal Bankers and industrialists back FDR instead of Hoover Part III FDR and The Corporate Socialists The Swope Plan and the N.R.A. FDR, Man on the White Horse The Smedley Butler Affair (1934) The Corporate Socialists at 120 Broadway, New York City Many of the leading players in the club FDR and the Corporate Socialists Willing accomplice of the rich and powerful Appendices Appendix A: The Swope Plan Blueprint for FDR's National Recovery Administration (NRA) Appendix B: Sponsors of Plans Presented for Economic Planning Selected Bibliography