The Jewish Bankers Who Built Wall Street, Financed the American Century, and Spawned Countless Conspiracy Theories

The Jewish Bankers Who Built Wall Street, Financed the American Century, and Spawned Countless Conspiracy Theories

Joseph Seligman arrived in the United States in 1837, with the equivalent of $100 sewn into the lining of his pants. Then came the Lehman brothers, who would open a general store in Montgomery, Alabama. Not far behind were Solomon Loeb and Marcus Goldman, among the “Forty-Eighters” fleeing a Germany that had relegated Jews to an underclass.

These industrious immigrants would soon go from peddling trinkets and buying up shopkeepers’ IOUs to forming what would become some of the largest investment banks in the world—Goldman Sachs, Kuhn Loeb, Lehman Brothers, J. & W. Seligman & Co. They would clash and collaborate with J. P. Morgan, E. H. Harriman, Jay Gould, and other famed tycoons of the era. And their firms would help to transform the United States from a debtor nation into a financial superpower, capitalizing American industry and underwriting some of the twentieth century’s quintessential companies, like General Motors, Macy’s, and Sears. Along the way, they would shape the destiny not just of American finance but of the millions of Eastern European Jews who spilled off steamships in New York Harbor in the early 1900s, including Daniel Schulman’s paternal grandparents.

Today’s guest is Dan Schulman, author of “The Money Kings: The Epic Story of the Jewish Immigrants Who Transformed Wall Street and Shaped Modern America.” We trace the interconnected origin stories of these financial dynasties from the Gilded Age to the Civil War, World War I, and the Zionist movement that tested both their burgeoning empires and their identities as Americans, Germans, and Jews.

See omnystudio.com/listener for privacy information.

Episoder(1078)

How Soccer Created African and Latin American Nations

How Soccer Created African and Latin American Nations

National pride often comes from shared heritage—like a common language or ethnic background. Religious Nationalism can be seen in historical Russia, where being part of the Orthodox Church was conside...

27 Jan 46min

The Sawmill – Along With Gunpowder and the Printing Press – Created the Modern World

The Sawmill – Along With Gunpowder and the Printing Press – Created the Modern World

The wind-powered sawmill was invented around 1592 in the Netherlands, immediately transforming the nature of labor and industry. This mechanical marvel replaced slow, muscle-powered sawyers, allowing ...

22 Jan 34min

Gears, Gold, and Global Peace: A Steampunk Bitcoin Journey Through an Alternate 20th Century

Gears, Gold, and Global Peace: A Steampunk Bitcoin Journey Through an Alternate 20th Century

We have paper money today because it functioned as an IOU, certifying that the holder could redeem it for an equivalent amount of physical gold or silver from the bank's vault. That’s where the Englis...

20 Jan 1h 5min

Before the Cold War, Russia and America Were the Closest of Distant Friends

Before the Cold War, Russia and America Were the Closest of Distant Friends

Nearly a century of Cold War tensions between the United States and Russia hide the incredibly close friendship that the two nations enjoyed before this period. From America’s colonial founding in the...

15 Jan 46min

The Horrifying Sinking of the Edmund Fitzgerald, the Titanic of the Great Lakes

The Horrifying Sinking of the Edmund Fitzgerald, the Titanic of the Great Lakes

One of the worst nautical disasters in recent American history is the sinking of the SS Edmund Fitzgerald. On November 10, 1975, the “storm of the century” threw 100 mile-per-hour winds and 50-foot wa...

13 Jan 48min

Inside the Deadly German U-Boats That Brought Britain to Its Knees (But Were Deadlier for Their Own Crews)

Inside the Deadly German U-Boats That Brought Britain to Its Knees (But Were Deadlier for Their Own Crews)

Over the course of World War II, Germany’s submariners sank over three thousand Allied ships, nearly three-quarters of Allied shipping losses in all theaters of the war. Winston Churchill famously dec...

8 Jan 41min

Manifest Destiny, Powered by Coal: How “Black Gold” Conquered the American Continent

Manifest Destiny, Powered by Coal: How “Black Gold” Conquered the American Continent

America’s growth from a rugged frontier nation to the globe’s industrial superpower in the space of 100 years can be explained by one word: coal. Before coal dominance, American buildings were defined...

6 Jan 49min

Ancient Athens Picked Its Leaders by Lottery for Over 200 Years. Some Think This System Should Replace Electoral Democracy

Ancient Athens Picked Its Leaders by Lottery for Over 200 Years. Some Think This System Should Replace Electoral Democracy

For almost two centuries, Ancient Athens—the most successful democracy in history—selected citizens by lottery to fill government positions. Athens adopted sortition—a random lottery system—to select ...

1 Jan 51min

Populært innen Samfunn

rss-spartsklubben
giver-og-gjengen-vg
aftenpodden
aftenpodden-usa
konspirasjonspodden
popradet
rss-nesten-hele-uka-med-lepperod
lydartikler-fra-aftenposten
min-barneoppdragelse
rss-henlagt-andy-larsgaard
grenselos
wolfgang-wee-uncut
rss-espen-lee-usensurert
synnve-og-vanessa
rss-dannet-uten-piano
rss-dette-ma-aldri-skje-igjen
fladseth
frokostshowet-pa-p5
alt-fortalt
relasjonspodden-med-dora-thorhallsdottir-kjersti-idem