Mintz and Schwartz offer a fascinating tour of the corporate world.
Through an intensive study of interlocking corporate directorates,
they show that for the first time in American history the loan
making and stock purchasing and selling powers are concentrated in
the same hands: the leadership of major financial firms. Their
detailed descriptions of corporate case histories include the
forced ouster of Howard Hughes from TWA in the late fifties as a
result of lenders' pressure; the collapse of Chrysler in the late
seventies owing to banks' refusal to provide further capital
infusions; and the very different "rescues" of Pan American
Airlines and Braniff Airlines by bank intervention in the
seventies.
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