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Other People's Money And How The Bankers Use It
''Other People's Money And How the Bankers Use It'' (1914) is a collection of essays written by Louis Brandeis first published as a book in 1914, and reissued in 1933. This book is critical of banks and insurance companies. Contents All the chapters of the book appeared as articles in ''Harper's Weekly'' between 22 November 1913 and 17 January 1914, and were written before November 1913. Synopsis The book attacked the use of investment funds to promote the consolidation of various industries under the control of a small number of corporations, which Brandeis alleged were working in concert to prevent competition. Brandeis harshly criticized investment bankers who controlled large amounts of money deposited in their banks by middle-class people. The heads of these banks, Brandeis pointed out, routinely sat on the boards of railroad companies and large industrial manufacturers of various products, and routinely directed the resources of their banks to promote the interests of th ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Louis Brandeis
Louis Dembitz Brandeis ( ; November 13, 1856 – October 5, 1941) was an American lawyer who served as an Associate Justice of the Supreme Court of the United States, associate justice on the Supreme Court of the United States from 1916 to 1939. Starting in 1890, he helped develop the "right to privacy" concept by writing a ''Harvard Law Review'' article of The Right to Privacy (article), that title, and was thereby credited by legal scholar Roscoe Pound as having accomplished "nothing less than adding a chapter to our law." He was a leading figure in the antitrust movement at the turn of the century, particularly in his resistance to the monopolization of the New England railroad and advice to Woodrow Wilson as a candidate. In his books, articles and speeches, including ''Other People's Money and How the Bankers Use It'', and ''The Curse of Bigness'', he criticized the power of large banks, money trusts, powerful corporations, monopolies, public corruption, and mass cons ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Insurance Companies
Insurance is a means of protection from financial loss in which, in exchange for a fee, a party agrees to compensate another party in the event of a certain loss, damage, or injury. It is a form of risk management, primarily used to protect against the risk of a contingent or uncertain loss. An entity which provides insurance is known as an insurer, insurance company, insurance carrier, or underwriter. A person or entity who buys insurance is known as a policyholder, while a person or entity covered under the policy is called an insured. The insurance transaction involves the policyholder assuming a guaranteed, known, and relatively small loss in the form of a payment to the insurer (a premium) in exchange for the insurer's promise to compensate the insured in the event of a covered loss. The loss may or may not be financial, but it must be reducible to financial terms. Furthermore, it usually involves something in which the insured has an insurable interest established by o ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Harper's Weekly
''Harper's Weekly, A Journal of Civilization'' was an American political magazine based in New York City. Published by Harper (publisher), Harper & Brothers from 1857 until 1916, it featured foreign and domestic news, fiction, essays on many subjects, and humor, alongside illustrations. It carried extensive coverage of the American Civil War, including many illustrations of events from the war. During its most influential period, it was the forum of the political cartoonist Thomas Nast. History Inception Along with his brothers James, John, and Wesley, Fletcher Harper began the publishing company Harper (publisher), Harper & Brothers in 1825. Following the successful example of ''The Illustrated London News'', Harper started publishing ''Harper's Magazine'' in 1850. The monthly publication featured established authors such as Charles Dickens and William Makepeace Thackeray, and within several years, demand for the magazine was great enough to sustain a weekly edition.Palmquis ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Investment Bankers
Investment banking is an advisory-based financial service for institutional investors, corporations, governments, and similar clients. Traditionally associated with corporate finance, such a bank might assist in raising financial capital by underwriting or acting as the client's Agency law, agent in the Issuer, issuance of debt or equity Security (finance), securities. An investment bank may also assist Company, companies involved in mergers and acquisitions (M&A) and provide ancillary services such as Market maker, market making, trading of Derivative (finance), derivatives and Share capital, equity securities FICC services (fixed income instruments, Foreign exchange market, currencies, and Commodity, commodities) or research (macroeconomic, credit or equity research). Most investment banks maintain prime brokerage and asset management departments in conjunction with their Securities research, investment research businesses. As an industry, it is broken up into the Bulge Bracket ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
United States Congress
The United States Congress is the legislature, legislative branch of the federal government of the United States. It is a Bicameralism, bicameral legislature, including a Lower house, lower body, the United States House of Representatives, U.S. House of Representatives, and an Upper house, upper body, the United States Senate, U.S. Senate. They both meet in the United States Capitol in Washington, D.C. Members of Congress are chosen through direct election, though vacancies in the Senate may be filled by a Governor (United States), governor's appointment. Congress has a total of 535 voting members, a figure which includes 100 United States senators, senators and 435 List of current members of the United States House of Representatives, representatives; the House of Representatives has 6 additional Non-voting members of the United States House of Representatives, non-voting members. The vice president of the United States, as President of the Senate, has a vote in the Senate ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Pujo Committee
The Pujo Committee was a United States congressional subcommittee in 1912–1913 that was formed to investigate the so-called "money trust", a community of Wall Street bankers and financiers that exerted powerful control over the nation's finances. After a resolution introduced by congressman Charles Lindbergh Sr. for a probe on Wall Street power, congressman Arsène Pujo of Louisiana was authorized to form a subcommittee of the House Committee on Banking and Currency. In 1913–1914, the findings inspired public support for ratification of the Sixteenth Amendment that authorized a federal income tax, passage of the Federal Reserve Act, and passage of the Clayton Antitrust Act. Background and overview Beginning in the late 1800s, a concern regarding the power of bankers and monopolies began to grow. This led to a breaking point in July 1911, when Congressman Charles August Lindbergh asserted that a banking trust existed within the United States and that it should be investi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Louisiana
Louisiana ( ; ; ) is a state in the Deep South and South Central regions of the United States. It borders Texas to the west, Arkansas to the north, and Mississippi to the east. Of the 50 U.S. states, it ranks 31st in area and 25th in population, with roughly 4.6 million residents. Reflecting its French heritage, Louisiana is the only U.S. state with political subdivisions termed parishes, which are equivalent to counties, making it one of only two U.S. states not subdivided into counties (the other being Alaska and its boroughs). Baton Rouge is the state's capital, and New Orleans, a French Louisiana region, is its most populous city with a population of about 363,000 people. Louisiana has a coastline with the Gulf of Mexico to the south; a large part of its eastern boundary is demarcated by the Mississippi River. Much of Louisiana's lands were formed from sediment washed down the Mississippi River, leaving enormous deltas and vast areas of coastal marsh a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
United States Representative
The United States House of Representatives is a chamber of the Bicameralism, bicameral United States Congress; it is the lower house, with the U.S. Senate being the upper house. Together, the House and Senate have the authority under Article One of the United States Constitution, Article One of the Constitution of the United States, U.S. Constitution to pass or defeat federal legislation, known as Bill (United States Congress), bills. Those that are also passed by the Senate are sent to President of the United States, the president for signature or veto. The House's exclusive powers include initiating all revenue bills, Impeachment in the United States, impeaching federal officers, and Contingent election, electing the president if no candidate receives a majority of votes in the United States Electoral College, Electoral College. Members of the House serve a Fixed-term election, fixed term of two years, with each seat up for election before the start of the next Congress. ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Arsène Pujo
Arsène Paulin Pujo (December 16, 1861 – December 31, 1939) was a member of the United States House of Representatives best known for chairing the " Pujo Committee", which sought to expose an anticompetitive conspiracy among some of the nation's most powerful financial interests (trusts). Biography Pujo was born in Calcasieu Parish near Lake Charles, Louisiana to a French-born father. He practiced law in Lake Charles and was a delegate to the state constitutional convention in 1898 before he was elected as a Democrat in 1902. In 1908, he became a member of the National Monetary Commission, a body which sought to study foreign banking systems in search of ways to better the domestic banking system. In 1911, he was appointed to chair the House Committee on Banking and Currency. In 1912, he left the National Monetary Commission and obtained congressional authorization to form a separate committee, which came to be called the Pujo Committee, to investigate the " money trust". T ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
US Corporate Law
United States corporate law regulates the governance, finance and power of corporations in US law. Every state and territory has its own basic corporate code, while federal law creates minimum standards for trade in company shares and governance rights, found mostly in the Securities Act of 1933 and the Securities and Exchange Act of 1934, as amended by laws like the Sarbanes–Oxley Act of 2002 and the Dodd–Frank Wall Street Reform and Consumer Protection Act. The US Constitution was interpreted by the US Supreme Court to allow corporations to incorporate in the state of their choice, regardless of where their headquarters are. Over the 20th century, most major corporations incorporated under the Delaware General Corporation Law, which offered lower corporate taxes, fewer shareholder rights against directors, and developed a specialized court and legal profession. Nevada has attempted to do the same. Twenty-four states follow the Model Business Corporation Act, while New ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
1914 Non-fiction Books
This year saw the beginning of what became known as the First World War, after Archduke Franz Ferdinand of Austria, heir to the Austrian throne was Assassination of Archduke Franz Ferdinand, assassinated by Serbian nationalist Gavrilo Princip. It also saw the first airline to provide scheduled regular commercial passenger services with heavier-than-air aircraft, with the St. Petersburg–Tampa Airboat Line. Events January * January 1 – The St. Petersburg–Tampa Airboat Line in the United States starts services between St. Petersburg, Florida, St. Petersburg and Tampa, Florida, becoming the first airline to provide scheduled regular commercial passenger services with heavier-than-air aircraft, with Tony Jannus (the first federally-licensed pilot) conveying passengers in a Benoist XIV flying boat. Abram C. Pheil, mayor of St. Petersburg, is the first airline passenger, and over 3,000 people witness the first departure. * January 11 **The Sakurajima volcano in Japan ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Banking Controversies
A bank is a financial institution that accepts deposits from the public and creates a demand deposit while simultaneously making loans. Lending activities can be directly performed by the bank or indirectly through capital markets. As banks play an important role in financial stability and the economy of a country, most jurisdictions exercise a high degree of regulation over banks. Most countries have institutionalized a system known as fractional-reserve banking, under which banks hold liquid assets equal to only a portion of their current liabilities. In addition to other regulations intended to ensure liquidity, banks are generally subject to minimum capital requirements based on an international set of capital standards, the Basel Accords. Banking in its modern sense evolved in the fourteenth century in the prosperous cities of Renaissance Italy but, in many ways, functioned as a continuation of ideas and concepts of credit and lending that had their roots in the ancie ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
