Showing posts with label Richard Whitney. Show all posts
Showing posts with label Richard Whitney. Show all posts

Monday, February 14, 2022

Once In Golconda: A True Drama Of Wall Street 1920-1938 – John Brooks, 1969 ★★★½

The Man Who Broke Wall Street

Sometimes history delivers up revolutionaries in deceptive packages. Take Richard Whitney.

Whitney was the pluperfect American aristocrat: boasting all the right connections; demonstrating a correct, gentlemanly bearing; and, as leader of the New York Stock Exchange in the 1930s, exemplifying all his fellow wealthy saw as proper and admirable in life.

But while pushing back against the forces of reform, he wrote checks he couldn’t cash and stole money from friends, thus setting up his financial establishment for a moral crisis that changed how Wall Street worked.