All the President’s Bankers

April 17th, 2014
sheidayi20130925010909817.jpgAt this point in our history, it should come as no surprise that the adage “follow the money,” applies not just to tracking down criminal activity, but to virtually every aspect of our economic and political system.

In a world where free markets are expanding, where economic and political stability are closely linked,  where nations compete for the free flow of money around the globe, where bankers cozy up to leaders and leader cozy up to bankers, sometimes those relationships can be out of balance.

To understand how,  it’s worthwhile to see how we got here and look at the 100+ year relationship between Wall Street and the administrations of 18 Presidents, of all political persuasions.

In her new book, All the Presidents' Bankers: The Hidden Alliances that Drive American Power, financial journalist Nomi Prins explores how a small number of bankers have played critical roles in shaping a century's worth of financial, foreign and domestic policy.  She examines how these relationships have influenced events from the creation of the Federal Reserve, the response to the Great Depression, and the founding of the International Monetary Fund and the World Bank. 

My conversation with Nomi Prins: