History of Finance Capital in America

Go details through institutional analysis how major financial institutions (including banks and insurance companies), industries, and the U.S. government behaved and linked with each other during the Great Depression and Inter-War period.

Autorentext

Go Tian Kang is an Emeritus Professor at Chuo University, Japan. He is the author of The Rise of Finance Capital in America (in Japanese) and American Commercial Banks in Corporate Finance, 19291941. He has contributed numerous articles to economic journals and has tought at the University of Tokyo, Peking University and other universities in Asia.

Inhalt

Contents

PREFACE

Chapter De-concentration after World War I (part 1) -The emergence of new financial-industrial powers

The Rise of New Industries

The Formation of New Financial-Industrial Powers

1. The Regional Financial-Industrial Powers

2. The Investment Bankers and their Investment Trusts

3. The Industrial Capitalists become Bankers

Chapter De-concentration after World War I (part 2) -The response of Wall Street financial-industrial powers

Morgan-First National Group

National City Group

Chase Group

Chapter The Renewed Dominance of Finance Capital under the Depression

The Dominance of Finance Capital

1. Formation of the stock pool

2. Leading the bond syndicates

3. Concentration of bank loans

4. The Massive withdrawal of brokers' loans and its consequences

   The Fall of the New Financial-Industrial Powers

5. The elimination of powerful competitors in the financial center

6. The fall of regional powers

   Industrial Concentration Following the Crash

7. Public utilities (power and gas)

8. Electrical equipment

9. Motor Cars

10. Oil

11. Steel

12. Motion Pictures

13. Newsprint

Chapter The Growing Community of Interests

1. Public Utilities

2. Petroleum

3. Iron and Steel

4. Automobile sales finance

5. Chemicals

6. Tire

7. Tobacco

8. Distilleries

9. Canneries

10. Paper

11. Motion Pictures

12. Merchandizing

13. Aircraft

14. Shipbuilding

Chapter The New Oligarchy

The Emergence of New Oligarchy

The Morgan-First National Group

1. The Four Morgan-First National Banks

2. The Three Big Insurance Companies

3. The Two Investment Banking Firms

   The Rockefeller Group

4. Chase National Bank

5. Metropolitan Life and Equitable Life

6. The First Boston Corporation and Rockefeller's subordinate allies in investment banking

   National City Group

   Wall Street's Growing Influence over the Regional Groups

7. The Chicago banks' growing dependence on the Wall Street financial powers

8. Subordination of Mellon to Rockefeller

9. Cleveland becomes a satellite of Wall Street

10. The new alliance between Boston and Rockefeller

Chapter Finance Capital in Federal Finance

Financing the Reconstruction Finance Corporation (RFC)

Financing the New Deal Program

Supporting the emerging War Economy

APPENDIX

SELECTED BIBLIOGRAPHY

INDEX