''The Moneychangers'' is a 1975 novel written by

Arthur Hailey Arthur Frederick Hailey, AE (5 April 1920 – 24 November 2004) was a British-Canadian novelist whose plot-driven storylines were set against the backdrops of various industries. His books, which include such best sellers as ''Hotel'' (1965), ...

. The plot revolves around the politics inside a major bank.

Plot summary

As the novel begins, the position of CEO of one of America's largest banks, ''First Mercantile American'', is about to become vacant due to the terminal illness of Ben Roselli, the incumbent chief, whose grandfather founded the bank. Two high-ranking executives groomed for the succession begin their personal combat for the position. One, Alex Vandervoort, is honest, hard-charging, and focused on growing FMA through retail banking and embracing emerging technology; the other, Roscoe Heyward, is suave, hypocritical, and skilled in boardroom politics, and favors catering more to business than to consumers. Heyward lives in a "rambling, three-story house in the suburb of

Shaker Heights Shaker or Shakers may refer to: Religious groups * Shakers, a historically significant Christian sect * Indian Shakers, a smaller Christian denomination Objects and instruments * Shaker (musical instrument), an indirect struck idiophone * Cockta ...

," Cleveland, Ohio. Many characters and plot lines interweave. Senior bank teller Miles Eastin is discovered to be defrauding the bank whilst casting guilt on another teller, a young single mother named Juanita Nunez. He is dismissed, arrested, and convicted. While in prison, he is gang-raped by a gang of fellow inmates. In prison, his knowledge of

counterfeit To counterfeit means to imitate something authentic, with the intent to steal, destroy, or replace the original, for use in illegal transactions, or otherwise to deceive individuals into believing that the fake is of equal or greater value tha ...

ing brings him to the attention of a gang of

credit card A credit card is a payment card issued to users (cardholders) to enable the cardholder to pay a merchant for goods and services based on the cardholder's accrued debt (i.e., promise to the card issuer to pay them for the amounts plus the o ...

forgers, who offer him a job on his release. Owing money to

loan shark A loan shark is a person who offers loans at extremely high interest rates, has strict terms of collection upon failure, and generally operates outside the law. Description Because loan sharks operate mostly illegally, they cannot reasonably ...

s, and desperate not to have to go to work for a criminal organization, he tries going back to his former employer to ask for some kind of job. Nolan Wainwright, the bank's Head of Security, obviously won't hire him to work directly for the bank, but with the approval of higher management, is allowed to pay Eastin to go undercover as an affiliate of the forgers and secretly report back details of their operation to Juanita Nunez, who had forgiven him after he came to see her and apologize for what he did. She agrees to be the "

cut-out Cut-out, cutout, or cut out may refer to: * Cutout animation * Cutout (electric power distribution), a combination fuse and knife switch used on power poles * Cutout (espionage), a mechanism used to pass information * Cut-out (philately), an impr ...

" whom Eastin will contact, and she will report back what he tells her to Wainwright. Eastin is discovered to be a planted spy by the criminal organization and tortured, only to be rescued in the nick of time as a result of Juanita being captured by the forgers and forced to identify Eastin. She is released, but uses her

photographic memory Eidetic memory ( ; more commonly called photographic memory or total recall) is the ability to recall an image from memory with high precision—at least for a brief period of time—after seeing it only onceThe terms ''eidetic memory'' and ''pho ...

to count the amount of time she spent blindfolded in the car and the movements it made, and as a result is able to lead police to the safe house where Eastin was being held and tortured. At the end, Eastin, Juanita and her daughter, Estella, move out of the state where both get new jobs. Also featured is Edwina D'Orsey, the head of FMA's flagship downtown branch, through whom a reader gains much insight into day-to-day branch banking, and her husband, Lewis, who writes a financial newsletter. As readers increasingly appreciate Vandervoort, the

protagonist A protagonist () is the main character of a story. The protagonist makes key decisions that affect the plot, primarily influencing the story and propelling it forward, and is often the character who faces the most significant obstacles. If a st ...

, they learn of his troubled personal life. His advancement in banking circles has come as his marriage is failing; his wife Celia is confined to an inpatient psychiatric facility. Vandervoort is shown as having developed a relationship with Margot Bracken, who is depicted as a

radical Radical may refer to: Politics and ideology Politics *Radical politics, the political intent of fundamental societal change *Radicalism (historical), the Radical Movement that began in late 18th century Britain and spread to continental Europe and ...

attorney and political activist many years his junior; her attitudes sometime conflicts with Vandervoort's role at FMA. She is also related to Edwina D'Orsey, as she is her first cousin. Meanwhile, Vandervoort's

antagonist An antagonist is a character in a story who is presented as the chief foe of the protagonist. Etymology The English word antagonist comes from the Greek ἀνταγωνιστής – ''antagonistēs'', "opponent, competitor, villain, enemy, riv ...

, Heyward, is depicted as a devout Episcopalian who strives to maintain an air of personal integrity and morality, only to slowly sacrifice them both in his pursuit of the presidency of FMA. As these men pursue their battle for the soon-to-be-vacant position of CEO, various issues involving the banking industry, such as

credit card fraud Credit card fraud is an inclusive term for fraud committed using a payment card, such as a credit card or debit card. The purpose may be to obtain goods or services or to make payment to another account, which is controlled by a criminal. The P ...

embezzlement Embezzlement is a crime that consists of withholding assets for the purpose of conversion of such assets, by one or more persons to whom the assets were entrusted, either to be held or to be used for specific purposes. Embezzlement is a type ...

, inflation,

subprime lending In finance, subprime lending (also referred to as near-prime, subpar, non-prime, and second-chance lending) is the provision of loans to people in the United States who may have difficulty maintaining the repayment schedule. Historically, subpri ...

, and

insider trading Insider trading is the trading of a public company's stock or other securities (such as bonds or stock options) based on material, nonpublic information about the company. In various countries, some kinds of trading based on insider information ...

are discussed. ''First Mercantile American'' is eventually revealed to have a doppelganger in the form of an organized crime family. The fight for control of the bank continues under the darkening clouds of an approaching economic

recession In economics, a recession is a business cycle contraction when there is a general decline in economic activity. Recessions generally occur when there is a widespread drop in spending (an adverse demand shock). This may be triggered by various ...

. Roscoe is manipulated into making a large, illegal and toxic loan to Supranational Corporation (SuNatCo), a multinational conglomerate (loosely based on

International Telephone and Telegraph ITT Inc., formerly ITT Corporation, is an American worldwide manufacturing company based in Stamford, Connecticut. The company produces specialty components for the aerospace, transportation, energy and industrial markets. ITT's three businesses ...

, with certain elements of

Penn Central The Penn Central Transportation Company, commonly abbreviated to Penn Central, was an American Railroad classes, class I railroad that operated from 1968 to 1976. Penn Central combined three traditional corporate rivals (the Pennsylvania Railroad ...

) run by the powerful, unscrupulous CEO, G. G. Quartermain. It turns out that SuNatCo is on the verge of bankruptcy, using the bank's loan in a vain attempt to keep afloat. The ensuing scandal causes a

bank run A bank run or run on the bank occurs when many clients withdraw their money from a bank, because they believe the bank may cease to function in the near future. In other words, it is when, in a fractional-reserve banking system (where banks no ...

and panic among depositors, shareholders, and employees, with the perpetrator committing suicide rather than facing the consequences of his actions. By the vote of the board of directors, Vandervoort assumes the position of CEO of the half-ruined bank.

Real-life background

One of the banking innovations that Hailey mentioned in ''The Moneychangers'' is Docutel, an

automated teller machine An automated teller machine (ATM) or cash machine (in British English) is an electronic telecommunications device that enables customers of financial institutions to perform financial transactions, such as cash withdrawals, deposits, fun ...

, based on real technology that was issued a patent in 1974 in the United States. In the novel, Jill Peacock, a journalist, interviewed First Mercantile American Bank executive VP, Alexander Vandervoort, in a suburban shopping plaza where the bank had installed the first two stainless-steel Docutel automatic tellers. Vandervoort, whose clothes looked like they were from the "fashion section of ''Esquire''" and who had the "mannerisms a la Johnny Carson", was not at all like the classical solemn, cautious banker in a double-breasted, dark blue suit. Peacock compared him to the new ATMs which embodied modern banking. The history of the real Docutel was traced in a ''New York Times'' magazine article. The breakthrough came when Don Wetzel, Vice President of Product Planning at Docutel, was waiting in a long line for a teller at a bank in Dallas, Texas in 1968. Wetzel had seen cash dispensing machines in Europe and was inspired to adapt Docutel technology, which was originally used in airport baggage handling, to create Docuteller, an American version. By 1969 work began on the prototype and the first working Docutel ABM was installed at Chemical Bank in New York.An account of U.S. ATM history The bank is very loosely based on the

Bank of America The Bank of America Corporation (often abbreviated BofA or BoA) is an American multinational investment bank and financial services holding company headquartered at the Bank of America Corporate Center in Charlotte, North Carolina. The bank w ...

, although it is located in a Midwestern American city loosely drawing mostly from

Cincinnati, Ohio Cincinnati ( ) is a city in the U.S. state of Ohio and the county seat of Hamilton County. Settled in 1788, the city is located at the northern side of the confluence of the Licking and Ohio rivers, the latter of which marks the state line wit ...

. During the first 5 chapters of the book, it only describes the bank's location as a state in "the Midwest" and the state itself is never identified.

Miniseries

The novel was adapted for television as a -hour

NBC The National Broadcasting Company (NBC) is an Television in the United States, American English-language Commercial broadcasting, commercial television network, broadcast television and radio network. The flagship property of the NBC Enterta ...

miniseries of which its four parts aired on December 4, 1976, and each of the subsequent three Sunday evenings through December 19 as part of the network's “Big Event” format.O'Connor, John J. "TV Weekend," ''The New York Times'', Friday, December 3, 1976.
Retrieved February 6, 2021

Ross Hunter Ross Hunter (born Martin Terry Fuss; May 6, 1916 or 1920 – March 10, 1996) was an American film and television producer and actor. He is best known for producing light comedies such as ''Pillow Talk'' (1959), and the glamorous melodramas ''M ...

and Jacque Mapes were the producers and

Boris Sagal Boris Sagal (October 18, 1923 – May 22, 1981) was an American television and film director. Early life and career Born in Yekaterinoslav, Ukrainian SSR (now known as Dnipro, Ukraine) to a Ukrainian-Jewish family, Sagal immigrated to the United ...

directed.''The Moneychangers'', NBC (Awards & Nominations) – Academy of Television Arts & Sciences (ATAS).
Retrieved February 6, 2021 The cast: *

Kirk Douglas Kirk Douglas (born Issur Danielovitch; December 9, 1916 – February 5, 2020) was an American actor and filmmaker. After an impoverished childhood, he made his film debut in ''The Strange Love of Martha Ivers'' (1946) with Barbara Stanwyck. Do ...

as Alex Vandervoort *

Christopher Plummer Arthur Christopher Orme Plummer (December 13, 1929 – February 5, 2021) was a Canadian actor. His career spanned seven decades, gaining him recognition for his performances in film, stage, and television. He received multiple accolades, inc ...

as Roscoe Heyward *

Timothy Bottoms Timothy James Bottoms (born August 30, 1951) is an American actor and film producer. He is best known for playing the lead in ''Johnny Got His Gun'' (1971); Sonny Crawford in ''The Last Picture Show'' (1971), where he and his fellow co-stars, Cy ...

as Miles Eastin *

Susan Flannery Susan Flannery (born July 31, 1939) is an American actress and director known for her roles in the daytime dramas ''The Bold and the Beautiful'' and ''Days of Our Lives''. Early life Flannery was born in Jersey City, New Jersey, on July 31, 19 ...

as Margot Bracken *

Anne Baxter Anne Baxter (May 7, 1923 – December 12, 1985) was an American actress, star of Hollywood films, Broadway productions, and television series. She won an Academy Award and a Golden Globe, and was nominated for an Emmy. A granddaughter of Fra ...

as Edwina Dorsey *

Percy Rodrigues Percy Rodriguez (born Percy Rodrigues; June 13, 1918 – September 6, 2007) was a Canadian actor who appeared in many television shows and films from the 1950s to the 1980s. He was of Afro-Portuguese heritage and was born in the Saint-Henri neigh ...

as Nolan Wainwright *

Ralph Bellamy Ralph Rexford Bellamy (June 17, 1904 – November 29, 1991) was an American actor whose career spanned 65 years on stage, film, and television. During his career, he played leading roles as well as supporting roles, garnering acclaim and ...

as Jerome Patterton *

Joan Collins Dame Joan Henrietta Collins (born 23 May 1933) is an English actress, author and columnist. Collins is the recipient of several accolades, including a Golden Globe Award, a People's Choice Award, two Soap Opera Digest Awards and a Primetime ...

as Avril Devereaux *

Robert Loggia Salvatore "Robert" Loggia ( , ; January 3, 1930 – December 4, 2015) was an American actor. He was nominated for the Academy Award for Best Supporting Actor for '' Jagged Edge'' (1985) and won the Saturn Award for Best Supporting Actor for ...

as Tony Bear *

Marisa Pavan Marisa Pavan (born Maria Luisa Pierangeli; 19 June 1932) is an Italian actress who first became known as the twin sister of film star Pier Angeli (Anna Maria Pierangeli) before achieving success in her own screen career. Early life and career ...

as Celia Vandervoort *

Jean Peters Elizabeth Jean Peters (October 15, 1926 – October 13, 2000) was an American film actress. She is known as a star of 20th Century Fox in the late 1940s and early 1950s, and as the second wife of Howard Hughes. Although possibly best remembered f ...

as Beatrice Heyward *

Hayden Rorke William Henry Rorke (October 23, 1910 – August 19, 1987), known professionally as Hayden Rorke, was an American actor best known for playing Colonel Alfred E. Bellows on the 1960s American sitcom '' I Dream of Jeannie''. Early life Rorke was ...

as Lewis Dorsey *

James Shigeta James Saburo Shigeta ( ja, 繁田三郎) (June 17, 1929 – July 28, 2014) was an American actor of Japanese descent. He was noted for his roles in ''The Crimson Kimono'' (1959), '' Walk Like a Dragon'' (1960), ''Flower Drum Song'' (1961), ...

as Wizard Wong * Amy Tivell as Juanita Nunez * Patrick O'Neal as Harold Austin *

Lorne Greene Lorne Hyman Greene (born Lyon Himan Green; 12 February 1915 – 11 September 1987) was a Canadian actor, musician, singer and radio personality. His notable television roles include Ben Cartwright on the Western ''Bonanza'' and Commander Ada ...

as George Quartermain *

Helen Hayes Helen Hayes MacArthur ( Brown; October 10, 1900 – March 17, 1993) was an American actress whose career spanned 80 years. She eventually received the nickname "First Lady of American Theatre" and was the second person and first woman to have w ...

as Dr. McCartney *

Roger Bowen Roger Wendell Bowen (May 25, 1932 – February 16, 1996) was an American comedic actor and novelist, best known for his portrayal of Lt. Col. Henry Blake in the 1970 film ''M*A*S*H''. Bowen considered himself a writer who only moonlighted as an ...

as Fergus Gatwick *

Leonardo Cimino Leonardo Cimino (November 4, 1917 – March 3, 2012) was an American film, television and stage actor who in 1937 appeared in the original stage production of Marc Blitzstein's ''The Cradle Will Rock''. Cimino's most well known roles are in the 19 ...

as Ben Roselli * Yxta Murray as Estella Nunez *

Scott Ellsworth Scott Ellsworth (''née'' Harvey Charles Ellsworth, January 4, 1927) is an American radio personality, news presenter, and actor. The host of ''Scott's Place'', a jazz radio broadcast that came to prominence in the late 1960s, he has been on the ...

as the Treasury Secretary John J. O'Connor of ''

The New York Times ''The New York Times'' (''the Times'', ''NYT'', or the Gray Lady) is a daily newspaper based in New York City with a worldwide readership reported in 2020 to comprise a declining 840,000 paid print subscribers, and a growing 6 million paid ...

'' raised concerns about the violence portrayed in the miniseries. He described the scene that concluded Part 1 involving the rape of embezzler Miles Eastin by fellow inmates as "one of the most explicitly sexual-assault scenes devised without benefit of outright hardcore pornography." Christopher Plummer received a Primetime Emmy Award for Outstanding Lead Actor in a Limited Series in

1977 Events January * January 8 – Three bombs explode in Moscow within 37 minutes, killing seven. The bombings are attributed to an Armenian separatist group. * January 10 – Mount Nyiragongo erupts in eastern Zaire (now the Democratic R ...

."Christopher Plummer (1929–2021)," Turner Classic Movies (TCM), Friday, February 5, 2021.
Retrieved February 6, 2021 Three additional Primetime Emmy Award nominations were for Limited or Anthology Series, Lead Actress in a Limited Series (Susan Flannery) and Outstanding Cinematography in Entertainment Programming for a Series (

Joseph Biroc Joseph Francis Biroc, (February 12, 1903 – September 7, 1996) was an American cinematographer. He was born in New York City and began working in films at the Paragon Studios in Fort Lee, New Jersey. After working there for approximately six ye ...

References

External links

* * {{DEFAULTSORT:Moneychangers 1975 British novels 1975 American novels 1970s American television miniseries Novels by Arthur Hailey Doubleday (publisher) books 1975 Canadian novels