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starroute

(12,977 posts)
8. And we know what became of Brown Brothers & Co.
Tue Jan 27, 2015, 12:01 PM
Jan 2015
http://en.wikipedia.org/wiki/Brown_Brothers_Harriman_%26_Co.

Brown Brothers Harriman & Co. (BBH) is the oldest and largest private bank in the United States.[2][3] In 1931, the merger of Brown Brothers & Co. (founded in 1818) and Harriman Brothers & Co. formed the current BBH.

Brown Brothers Harriman is also notable for the number of influential American politicians, government appointees, and Cabinet members who have worked at the company, such as W. Averell Harriman, Prescott Bush, George H. W. Bush, Robert A. Lovett, Richard W. Fisher, Robert Roosa, and Alan Greenspan.


http://www.theguardian.com/world/2004/sep/25/usa.secondworldwar

While there is no suggestion that Prescott Bush was sympathetic to the Nazi cause, the documents reveal that the firm he worked for, Brown Brothers Harriman (BBH), acted as a US base for the German industrialist, Fritz Thyssen, who helped finance Hitler in the 1930s before falling out with him at the end of the decade. The Guardian has seen evidence that shows Bush was the director of the New York-based Union Banking Corporation (UBC) that represented Thyssen's US interests and he continued to work for the bank after America entered the war. . . .

In 1924, his father-in-law, a well-known St Louis investment banker, helped set him up in business in New York with Averill Harriman, the wealthy son of railroad magnate E H Harriman in New York, who had gone into banking.

One of the first jobs Walker gave Bush was to manage UBC. Bush was a founding member of the bank and the incorporation documents, which list him as one of seven directors, show he owned one share in UBC worth $125.

The bank was set up by Harriman and Bush's father-in-law to provide a US bank for the Thyssens, Germany's most powerful industrial family.
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