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Other People's Money and How The Bankers Use It by Louis D. Brandeis Excerpt le men possessed of large fortunes; but the most potent factor in their control of business is not the possession of extraordinary ability or huge wealth. The key to their power is Combination -- concentration intensive and comprehensive -- advancing on three distinct lines: First: There is the obvious consolidation of banks and trust companies; the less obvious afhliations -- through stockholdings, voting trusts and interlocking directorates -- of banking institutions which are not legally connected; and the joint transactions, gentlemen's agreements, and banking ethics which eliminate competition among the investment bankers.

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9781727815580

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