"Gentlemen Bankers" investigates the social and economic circles
of one of America s most renowned and influential financiers to
uncover how the Morgan family s power and prestige stemmed from its
unique position within a network of local and international
relationships.
At the turn of the twentieth century, private banking was a
personal enterprise in which business relationships were a
statement of identity and reputation. In an era when ethnic and
religious differences were pronounced and anti-Semitism was
prevalent, Anglo-American and German-Jewish elite bankers lived in
their respective cordoned communities, seldom interacting with one
another outside the business realm. Ironically, the tacit agreement
to maintain separate social spheres made it easier to cooperate in
purely financial matters on Wall Street. But as Susie Pak
demonstrates, the Morgans exceptional relationship with the
German-Jewish investment bank Kuhn, Loeb & Co., their strongest
competitor and also an important collaborator, was entangled in
ways that went far beyond the pursuit of mutual profitability.
Delving into the archives of many Morgan partners and legacies,
"Gentlemen Bankers" draws on never-before published letters and
testimony to tell a closely focused story of how economic and
political interests intersected with personal rivalries and
friendships among the Wall Street aristocracy during the first half
of the twentieth century."
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