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The Fall of the House of Speyer - The Story of a Banking Dynasty (Paperback)
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The Fall of the House of Speyer - The Story of a Banking Dynasty (Paperback)
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The dramatic story of the last fifty years of the Speyer banking
dynasty, a Jewish family of German descent, is surprisingly little
known today, yet at the turn of the 20th century, Speyer was the
third largest investment banking firm in the United States, behind
only Morgan and Kuhn, Loeb. It had branches in London, Frankfurt
and New York, and the projects it financed included the Southern
Pacific Railroad, the London Underground and the infrastructure of
the new Cuban republic. Later, it was the first major banking firm
to finance Germany's Weimar Republic, as well as providing League
of Nations loans to Hungary, Greece and Bulgaria. Yet, the firm was
doomed by the nationalist passions aroused by World War I. Its
English partner was denaturalised and exiled; its American partner
enjoyed reduced standing because of his connection to Germany; and
the Frankfurt branch closed with the coming of the Third Reich, its
German partner fleeing into exile. The firm was dissolved in 1939,
a surprisingly anticlimactic end to one of the great international
banking companies of modern times. George W. Liebmann here tells
the story of the firm and the family - shedding new light on the
protagonists of a remarkable dynasty, who came undone in the
dramatic years of the early 20th century.
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