Capital of Capital: Money, Banking+Power in New York City 1784

Page numbers refer to the print edition but are hyperlinked to the appropriate location in the e-book.

Abbott, Berenice, 160, 168, 169, 176–77

activists, 3, 229; African American, 180, 211, 212; banks confronted by, 227–29; protests and, 214–15, 215, 224. See also Occupy Wall Street

“The Adventure of Captain Dime,” 203

advertisements, 119; American Bank Note Company, 76, 77; American Express, 58; Brevoort Savings Bank, 195; The Commercial Banks of the U.S., 193, 194; cotton, 71; Dime Savings Bank of Brooklyn, 203; First National City Bank, 201; Irving Trust Company, 204; Second Liberty Loan, 116, 117, 122, 123; “War Bonds in Action” billboard, 184, 185; Williams Ice-O-Matic Refrigerator, 121

African Americans, 85–86, 166, 176, 180, 182, 211–13, 212

AIG. See American International Group

Albok, John, 184, 185

Aldrich, Nelson, 150, 173, 207

Aldrich, Winthrop W., 163, 173, 175, 207

Alexander, Henry C., 208, 213

Alexander Hamilton, 10

Allende, Salvador, 216

Amalgamated Housing Cooperative, 179

American Bank Note Company, 44, 76, 77

American Express, 58, 199, 200, 234

American International Group (AIG), 260, 270–72, 274, 279, 282

American Recovery and Reinvestment Act, 277

Andrew, A. Piatt, 150

Armstrong Committee, 140–41, 144, 155

Astor, John Jacob, 26, 33, 37, 54

The Atlantic Cable Projectors, 60

Bailey, Charles, 129

Bains News Service, 156

Baker, George F., 80, 87, 108, 116, 141

Banca Stabile, 111–13, 113

Bank Book No. 6033, 32

“Bank Burglars Outfit,” 145

Banking Act of 1933, 174

banking primacy, 62, 65

Bank of America (modern bank), 65n14, 198, 200, 232, 270, 273, 283

Bank of America (pet bank), 65n14

Bank of New York Mellon, 267, 269, 273, 274, 274

Bank of North America, 9

Bank of the State of New-York, 46

Bank of Tokyo Trust Company, 209

bankruptcy, 127, 217, 221, 269–70, 270

banks: activists confronting, 227–29; battling of, 40–42; era of growth for, 26–27; evolution of, 1–3; Great Depression and, 175–76, 178; inside, 55–56; largest commercial, 271; New Deal housing legislation and, 178, 180–82; in NY by types of banks (2010), 256; on trial, 167–72; for women, 109, 227, 228, 228–29. See also specific banks

banks, for American century, 193–95; controversies, 210–13; credit cards and, 199–201; with foreign affairs and war, 98, 183–84, 187, 213–16; Glass-Steagall and, 197–98, 202; global banking, Rockefeller, John D., style, 207–8; global banking, Wriston style, 205–6; with negotiable CDs and on-bank holding companies, 202–3, 205; reshaping Manhattan, 208–10; with safe practices and constraints, 196–97; survival and innovation, 216–17

banks, for industrial nation, 93–94; Banca Stabile and, 111–13, 113; banking for industry and, 95–98, 101; bonds and, 114–16, 119–21; expansion, 104, 105, 107; financial elite and, 107–9; immigrant banks and, 109–10, 114; NY as capital of capital and, 121, 123; rise of syndicate, 101–4

The Banks of New-York (Gibbons), 70

The Bank for Savings, 27–31

The Bank of Commerce, 45, 46

The Bank of New-York, 1, 26; check (May 31, 1796), 13; founding of, 12–13, 16, 17, 18, 22; ledger (1789–90), 14–15, 16

The Bank of the United States, 48–49, 62, 164; beginnings, 18, 21–23; demise of, 24–26; stock certificates (1823), 20

Bank War, 3, 37, 163; banking primacy and, 62, 65; battles, 40–42; free banking era and, 54, 58–60; Great Monopoly and, 42, 46–47; Jacksonian NY and, 38–39; panic of 1837 and, 51–54, 63; panic of 1857 and, 61–62, 62, 63–64; pet banks and, 47, 50–51, 52, 65n14

banner, Kipiler Vol. Y.M.B.A., 114

Barker, Jacob, 19, 19, 20, 26, 33, 37

“Bark up lively, my hungry pups!...,” 137

Baruch, Bernard, 168

Beame, Abe, 221, 222, 222, 226

Bear Stearns, 260, 266–67, 269, 274, 277, 279, 282

Belmont, August, 71, 87, 88, 88, 136, 137

Bernanke, Ben, 266, 269, 271, 273, 277

Berryman, Clifford Kennedy, 173

Biddle, Nicholas, 38, 46, 48–49, 51

“Big Four,” 232, 232–33. See also Bank of America; Citigroup; JPMorgan Chase; Wells Fargo

billboards, “War Bonds in Action,” 184, 185

Black, Eugene R., Sr., 207

Blankfein, Lloyd, 269, 273

Block, Herbert “Herblock,” 220, 221, 248, 249

Bloomberg, Michael, 235–36, 276

bomb explosion, on Wall Street, 153, 155

bonds, 20, 114–16, 118, 119–21, 184, 185, 186–87, 187–88

The Bond (film), 118

The Bonfire of the Vanities (Wolfe), 245–46, 246

Brandeis, Louis D., 142, 143, 143, 169, 211

“Bread Currency” leaflet, 128

Bread Winners Bank, 129

“The Breaking of the Counterfeiters’ Ring,” 132

Bretton Woods conference, 207

Brevoort Savings Bank advertisement, 195

Brother Can You Spare a Dime, 158–59, 168

Brown Brothers, 58, 59, 155

Bryan, Williams Jennings, 116, 137

Buffett, Warren, 259

bull market, 154, 246–47

Burning of the Merchants’ Exchange, New York, December 16th & 17th, 57

Burr, Aaron, 23–24, 198

Bush, George W., 261, 267, 269, 272

“Buttonwood Agreement,” 21, 21

Byron Company, 90–91, 93, 109, 110

Cafferty, James, 63, 63–64

Cameron, James B., 81

campaign posters, 138

“can,” porcelain, 12

capital of capital, NY as, 121, 123. See also new century

cards: credit, 199, 199–201; playing, 195

Carey, Hugh, 223, 225–26

Carnegie, Andrew, 103

Carver Federal Savings and Loan Association, 211

cashiers, bank, 55–56, 109

Cassano, Joseph, 260, 279

CDO. See Collateralized Debt Obligation

CDS. See credit default swap

CDs, negotiable, 202–3, 205

Central Intelligence Agency. See CIA

Central Park, 167, 182

“The Central Bank,” 124–25, 127, 148, 149

Chaplin, Charlie, 92, 93, 116, 118–19

charter, City Bank, 68, 69, 82, 83

Chase, Salmon A., 72, 75–76, 78–81, 83, 84

Chase Manhattan Bank, 190–91, 198, 200, 208, 210

Chase Manhattan Charge Plan (CMCP), 199, 200–201

Chemical Bank, 44, 198

Chinese export “can,” 12

CIA (Central Intelligence Agency), 216

Citibank, 206, 230, 246

Citicard Banking Center, 218–19, 221, 237

Citigroup, 232, 260, 262, 266, 267, 269, 270, 273, 274, 277, 279, 283; employees and compensation for, 274

City Bank charter, 68, 69, 82, 83

The City Trust & Banking Company, 43

Civil War, U.S., 69; cotton and, 73, 74; divided city, 70–72; end of, 88–89; federal currency and, 79–80; financing of, 72, 75–76; greenbacks, national banks and, 76, 78–79; resistance to federal currency and, 80, 81, 83; war boom and, 84, 87–88

Clay, Edward Williams, 34–35, 37, 51

Clayton Antitrust Act, 143, 147, 155

Clearing Methods Prior to the Establishment of the Clearing House, 55

Cleveland, Grover, 103

Cleveland, Harold van B., 203

Clinton, Bill, 234, 237, 246, 253, 254, 254

Clinton, De Witt, 24, 31–33

CMCP. See Chase Manhattan Charge Plan

CMOs. See Collateralized Mortgage Obligations

Coinage Act of 1834, 65n8

coins, gold, 12, 40, 41, 65n8, 72, 75–76, 138, 145

Collateralized Debt Obligation (CDO), 256, 257, 258, 259–60, 261, 262–63, 262–64, 266, 267, 279

Collateralized Mortgage Obligations (CMOs), 240–41, 255, 256, 259, 261, 266

Colman, Samuel, Jr., 66–67, 69, 74

commercial banks, 256, 271

The Commercial Banks of the U.S., 193, 194

Commodity Futures Modernization Act, 260

Commonwealth Bank (Germania Bank), 107

Community Preservation Corporation, 228

Community Reinvestment Act, 228, 261, 279

Cooke, Jay, 81, 83, 86

Coolidge, Calvin, 144, 171

Cooper, Peter, 60, 94, 127–29

Coppola, Caroline, 111, 113

Coppola, Francis Ford, 111, 113

cotton, 69, 70, 71, 72, 73, 74, 74

counterfeit notes, 43–45, 44, 131–32

Countrywide Financial Services, 261, 264

crash. See crises; Great Depression; Great Recession; panics

credit cards, 199, 199–201

credit default swap (CDS), 257, 259, 260

credit unions, 256

“Credit Unions—the People’s Bank,” 180–81

crises: fiscal, 223–26; glossary of financial, 257–58; new century and, 264, 266–67; panics and, 1, 22, 51–54, 61–62, 62, 63–64, 161. See also Great Depression

Cummings, Christine, 269

Cunningham, James Watson, 97

currency, federal, 79–80, 81, 83. See also money

Custom House, U.S., 13, 57, 61, 107

Davis, Jefferson, 71

Dazey, Charles, 34–35

debtors’ prison, 13, 21

Deutsche Bank, 231, 261, 269

Dice, Charles Amos, 164

Dime Savings Bank of Brooklyn, 203

Dimon, Jamie, 269, 273

Di Stefano family portrait, 112

Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010, 3, 282

Donnelly, Ignatius, 127–28

Douglass, Federick, 86

Drooker, Eric, 268

Eddy, Thomas, 27, 31

Eisenhower, Dwight D., 213

elite, financial, 107–9

Emergency Banking Act, 172

Emergency Economic Stabilization Act, 272

Endicott, George, 59

engravers, currency, 79–80. See also counterfeit notes

Erie Canal, 39, 53, 95, 114

Erie Canal Celebration, New York, 1825, 28–29

Eurodollars, 206, 216, 217

Evans, Arthur, 229

Every, Edward Van, 132

“The Everything Card,” 199, 200, 201, 201

expansion, of banks, 104, 105, 107

Fairbanks, Douglas, 92, 93, 118–19

Fannie Mae (Federal National Mortgage Association), 180, 240, 255, 257, 259, 261, 264, 267, 277, 282

Farm Security Administration, 186

FDIC. See Federal Deposit Insurance Corporation

Federal Deposit Insurance Corporation (FDIC), 63, 173, 175

Federal Home Loan Mortgage Corporation. See Freddie Mac

Federal Housing Administration (FHA), 178, 180

Federal National Mortgage Association. See Fannie Mae

Federal Reserve: bank, 152, 188, 231, 266, 269, 277; board, 172, 203, 266; system, 3, 63, 148, 150–52, 153, 163, 188, 194, 255, 273

Fessenden, William, 79, 81

FHA. See Federal Housing Administration

Field, Cyrus, 60, 94

finance, structured, 258

financial centers, top ten, 280–81

financial crisis, glossary, 257–58

financial elite, 107–9

First Boston, 196, 236

First National City Bank, 198, 199, 200, 201, 202–3, 205–6, 209

First Women’s Bank, 227, 228, 228–29

flyer, Germania Bank, 107

Ford, Gerald, 221, 222, 225

foreign affairs, banks and, 98, 183–84, 187, 213–16

Franklin, Benjamin, 79

Franklin, Lewis B., 116

Franklin National Bank of Long Island, 200

Freddie Mac (Federal Home Loan Mortgage Corporation), 240, 241, 255, 257, 259, 261, 264, 267, 277

Free Banking Act, 3, 53, 54, 58–60, 62, 79

Freedman’s Savings and Trust Company, 85–86, 86

French, Francis O., 137

future: as bright, 247; global, 282–83, 285

ga-ga years. See 1980s

Gay Activists Alliance, 228

Geithner, Timothy, 266, 269, 270, 277

Gelband, Michael, 261, 269

Gellhorn, Martha, 165

General Jackson Slaying the Many Headed Monster, 48–49

Germania Bank. See Commonwealth Bank

Gibbons, James Sloan, 56, 61, 69–71, 87

Giuliani, Rudolph, 245

Glass, Carter, 172, 173, 174

Glass-Steagall Banking Act, 133, 162, 172–75, 176, 188–89, 194, 197–98, 202, 203, 205–6, 208, 216, 223, 230, 246, 253, 255, 276, 278, 282

glossary, of financial crisis, 257–58

gold, 13, 52, 61, 63, 87, 137, 139, 187, 273; coins, 12, 40, 41, 65n8, 72, 75–76, 138, 145; paper or, 129–30, 133–34

Goldman Sachs, 236–37, 260, 266, 269, 270, 272, 273, 274, 277, 279, 283

government-sponsored enterprise (GSE), 257

Gramm-Leach-Bliley Act, 254

Grant, Ulysses S., 273

Great Depression, 161–62; Amalgamated Bank of New York and, 179; with banks and New Deal housing legislation, 178, 180–82; with banks on trial, 167–72; banks survive, 175–76, 178; crash and, 163–65; images, 168; life in, 165–67; New Deal and, 172–74; regulation and, 188–89; with war imminent, 182–84, 187; World War II and, 187–88

Great Fire of 1835, 57

Great Monopoly, 42, 46–47

Great Recession, 3, 255, 267, 277–79, 282

Great War. See World War I

Greeley Hotel Dining Saloon, 72

Green, Hetty Howland Robinson, 99–100, 100

greenbacks, 76, 76, 78–79, 89n8, 128, 130, 133

Greenhill, Robert, 238

Greenspan, Alan, 234, 246–47, 254, 255, 256, 266, 282

Gropper, William, 166, 170

GSE. See government-sponsored enterprise

Guy, Francis, 6–7, 9, 22

Hamilton, Alexander, 1, 9, 10, 12, 13, 16, 18, 19, 22–23, 33, 37, 50, 72, 78, 267

Harding, Warren G., 144

Hard Times token, 53

“Harlem: A Neglected Investment Opportunity,” 212

Harlem Mortgage and Improvement Council, 212

Harper’s Encyclopedia of United States History, 19

Harper’s Weekly, 62, 143

Harris & Ewing, 141, 184

Harrison, William Henry, 53

Hayes, Rutherford B., 127

hedge funds, 239–40, 260, 270

Hess, Richard, 225

HFC. See Household Finance Corporation

Hill, James J., 137, 139

Hitler, Adolf, 183, 187

HOLC. See Home Owners Loan Corporation

holding companies, one-bank, 202–3, 205

Holmes, Oliver Wendell, Sr., 89

Home Mortgage Disclosure Act, 227

Home Owners Loan Corporation (HOLC), 178, 180

Hondros, Chris, 270

Hone, Philip J., 27, 27, 41, 50, 52

Hong Kong, 2, 280, 282, 283

Hoover, Herbert, 144, 163, 168, 171, 172, 273, 277

“Hooverville” in Central Park, 167

Household Finance Corporation (HFC), 228, 229

“How are you Green-backs,” 78

HSBC North America: employees and compensation for, 274

Hudson, Frederic, 64

Huntington, Daniel, 60

hybrid ARMS. See short-term hybrid adjustable-rate mortgage

IBC Harbin Bank, 106

Imbert, Anthony, 28–29

immigrants, 165; banks for, 109–10, 114; mutual aid societies for, 114

Industrial and Commercial Bank of China, 283

industry, banking for, 95–98, 101

Interstate Banking and Branching Efficiency Act, 234

“Invasion of the Corporate Body Snatchers,” 220, 221, 248, 249

IOUs, 13, 16, 30, 39–40

Irving Trust Company, 204

Jackson, Andrew, 3, 37, 38–40, 41, 42, 48–49, 50, 52, 53, 65n8

James, Henry, 93, 94

Japan, 104, 105, 187, 204, 280, 283

Jarmulowsky, Sender, 110, 114, 115

Jarvis, John Wesley, 27

Jefferson, Thomas, 16, 22, 23, 24, 40

jet passenger planes, 202

Johnson, Lyndon, 213, 214

JPMorgan Chase, 232, 260, 266–67, 269, 270, 273, 274, 277, 283; employees and compensation for, 274

Kelly, Robert, 269, 273

Kennedy, John F., 173, 213

Kennedy, Joseph, 173

Kipiler Vol. Y.M.B.A. banner, 114

Kissinger, Henry, 216

Kramp, William C., 57

Krupsak, Mary Anne, 227

Kuhn, Abraham, 97, 98

La Follette, Robert, 153

La Guardia, Fiorello, 153, 166, 207

Lamont, Thomas W., 116, 161, 163, 183, 184, 184, 207

Lawrence, Cornelius, 47, 52

Lease, Mary E., 134, 136

ledger, bank (1789–90), 14–15, 16

Legal Tender Acts, 79

Leggett, William, 41, 42

legislation. See specific legislation

Lehman Brothers, 97, 236, 260, 261, 267, 269–70, 270, 271, 274, 277, 279

Leslie, George Leonidas, 145–46

Lewis, John L., 184, 273

Liberty Loans, 92, 93, 94, 115–16, 117, 118–19, 119, 122, 123, 156

Lincoln, Abraham, 70, 71, 72, 78, 81, 83, 86, 87, 88, 131

Locker, Erick, 190–91, 210

Loco Focos, 40, 41, 50, 53, 65n5

London, 2, 280, 282, 283

The Lousy System, 170

Luce, Henry, 194–95

Macauley, C.R., 122, 123

Mack, John, 269, 270, 273

Mandelbaum, Marm, 145, 146

Manhattan Savings Bank, 197

Manhattan Skyline I, From Pier 11, 160, 176–77

The Manhattan Company, 23–24, 25

Manufacturers Trust Company, 107, 176, 192, 209

map, residential security, 181, 182

The Marble Manufacturing Company of the City of New York, 45

Massachusetts Bank, 33n1

MBS. See mortgage-backed securities

McCloy, John J., 207, 213

McCulloch, Hugh, 79, 83

McDonald, “Country” Joe, 214–15

McDougall, Alexander, 9, 12

McFadden Act, 119, 234

McKinley, William, 102, 105, 137, 138

Medina, Harold R., 101, 211

Merrill Lynch, 260, 262, 266, 267, 269, 270, 273, 274, 277, 279, 283

Metropolitan Opera House, 110

Meyer, Andre, 209, 238

Milken, Michael, 236, 245, 245

Miller, Robert, 137

Minchillo, John, 250–51, 253, 276

Miner, Joshua D., 131–32

Mitchell, Charles E., 119, 161, 163–64, 169–70, 171, 175

money, 11, 53, 65n8; counterfeit, 43–45, 44, 131–32; Eurodollars, 206, 216, 217; federal currency, 79–80, 81, 83; greenback, 76, 76, 78–79, 89n8, 130, 133; paper or gold?, 129–30, 133–34. See also notes

Money Trusters, 129, 141–42, 144, 147–48, 211

Moody’s, 240, 259, 261

Moore, George S., 202, 205, 208

Morgan, Jack, 143, 156, 161, 173, 184

Morgan, J. P., 2, 84, 97, 101, 101–4, 108–10, 121, 136–37, 139, 141, 143–44, 147, 147–48, 149, 161, 171, 174, 184, 196, 207, 273

Morgan Stanley, 175, 178, 196, 236, 269, 270, 273, 274, 277, 283

mortgage-backed securities (MBS), 239–40, 257

Moses, Robert, 208, 209

Murray, Philip, 184

Mussolini, Benito, 183, 187

mutual aid society, 114

Nankivell, Frank A., 124–25, 127, 148, 149

National Banking Act of 1933. See Glass-Steagall Banking Act

national banks, 76, 78–79

National Capital Circus Season, 173

National City Bank of New York, 94, 175, 178, 209

National Police Gazette, 132

New Amsterdam National Bank, 109

new century, 253–54; CDO in, 262–63, 262–63; crisis and, 264, 266–67; global future and, 282–83, 285; Great Recession and, 277–79, 282; meltdown in, 267, 269–72; overview, 255–56, 259–61; OWS in, 275–76; subprime in, 261, 263; TARP in, 272–74, 277

New Deal, 3, 63, 162–63, 172–76, 178, 180–82, 187, 196, 223, 253, 273

New Levels of the Stock Market (Dice), 164

The New Masses, 167, 170

The New Yorker, 268

New York (NY), 280; as capital of capital, 121, 123; five-pound note (1776), 8, 17; one-cent note (1814), 17; skyline, 284, 285

New York Merchants’ Exchange, 57

New York Stock Exchange, 21, 209; member’s chair, 97; scene (1853), 95; stock ticker (1867–1930), 96

The New York Clearing House, 55, 56

night cap, ladies’, 70

1980s (ga-ga years), 226, 230–31

notes: counterfeit, 43–45, 44, 131–32; five-dollar (1845), 45; five-pound (1776), 8, 17; Greeley Hotel Dining Saloon twenty-five cents, 72; IBC Shanghai Office ten-dollar (1905), 106; one-cent (1814), 17; one-dollar (1839), 43; promissory, 13, 16, 30, 39–40; twenty-dollar (1826), 45

Novelty Iron Works, Foot of 12th St. E.R. New York, 59

NY Daily News, 222

Obama, Barack, 269, 277

Occupy Wall Street (OWS), 1, 250–51, 252, 253, 275, 275–76, 276, 278, 282

Onassis, Aristotle, 202

one-bank holding companies, 202–3, 205

one-stop shopping, 230, 231, 234–35

Ormsby, Waterman, 43–45

Oros, John, 266–67

Other People’s Money and How the Bankers Use It (Brandeis), 143, 169

OWS. See Occupy Wall Street

Pach Brothers, 101

Pandit, Vikram, 269, 273

panics: of 1792, 1, 21; of 1837, 51–54, 63; of 1857, 61–62, 62, 63–64; of 1893, 102; of 1907, 161. See also crises; Great Depression; Great Recession

paperweight, commemorative, 228

passbook, bank (1829), 32

Paulson, Henry, 266, 267, 269, 270, 272, 273, 277

pawnbroker store, 168, 169

Pecora, Ferdinand, 168–71, 172, 173, 211

Penniman, John Ritto, 59

Pennsylvania Railroad Stock, 98

Perkins, George W., 141, 144

Perkins, James H., 163, 175, 176

pet banks, 47, 50–51, 52, 65n14

philanthropy, 101, 243

Philip J. Hone, 27

Pickens, T. Boone, 238

Pintard, John, 27, 31

pipe, water supply, 25

Pomboy, Stephanie, 264

Populist Cartoons: An Illustrated History of the Third-Party Movement of the 1890s (Miller), 137

porcelain, export “can,” 12

porters, bank, 55–56

posters, campaign, 138

Potter, Albert, 158–59, 168

presidents, bank, 55–56

primacy, banking, 62, 65

promissory notes, 13, 16, 30, 39–40

proprietary trading, 257

Prosperity at home, prestige abroad, 138, 139

protests, 214–15, 215, 224. See also activists

publications, popular, 119

Puck, 124–25, 127, 148, 149

Pujo, Arsene, 141, 141, 169

Pujo Committee, 141, 141–44, 147, 171

Pullman, George W., 103

Purser, Caroline, 284, 285

Quants, 241–42, 256, 259

Quintard Iron Works, New York, 84

racial discrimination, 136, 180–81, 211–13

raiders, corporate, 245, 248, 249

Ranieri, Lewis, 239, 240

Reagan, Ronald, 223, 226

Recollections of a New York Chief of Police (Walling), 145

Reed, John, 234, 246

reform, regulation and, 127–28; with bankers and reformers, 155–56; bank robbers, heists and, 145–46; counterfeiters and, 131–32; Federal Reserve and, 148, 150–52; gold or paper?, 129–30, 133–34; with Great War and afterward, 152–54; Money Trusters and, 141, 144, 147–48, 211; populists versus Wall Street with, 134, 136; progressive, 139–41; Pujo Committee with, 141, 141–44, 147, 171; Wall Street strikes back, 136–37, 139

regulation, 188–89. See also reform, regulation and

Remsen, George Henry, 11

residential security map, 181, 182

rip-off factor. See “R.O.F” factor

Roberts, Mary Eliza, 85

Robinson, H. R., 48–49

Robinson, Marty, 229

Rockefeller, David, 189, 196, 198, 207–8, 209–10, 211, 213, 214, 214, 216, 221, 228, 242

Rockefeller, John D., 102, 103, 140, 207–8

Rockefeller, Nelson, 210

Rockefeller, William, 103, 137, 140

“R.O.F” (rip-off factor), 245

Rohatyn, Felix, 223, 226, 238

Roosevelt, Franklin D., 3, 102, 162–63, 170, 172, 173, 174, 176, 178, 183, 184, 184, 217, 223, 253, 273, 277

Roosevelt, Theodore, 139

Rothman’s Pawn Shop, 168, 169

Rothstein, Arthur, 186–87

runners, bank, 55–56

Running the “Machine”, 81

Run on the Seamen’s Savings Bank during the panic, 62

The Safety Fund, 31–33, 52, 62

savings banks, 243, 256

Schiff, Jacob, 1, 97–98, 115, 116, 121, 136, 139, 141, 144, 147, 148, 156

Schwab, Charles, 103

Seamen’s Bank for Savings, 32, 62, 71, 209, 243

SEC. See Securities and Exchange Commission, U.S.

Second Branch Bank of the United States, 46

Secret Service, U.S., 131–32

Securities and Exchange Commission (SEC), U.S., 162, 173–74, 176, 178, 196, 259, 277

Seligman, Joseph, 97, 136, 137

September 11, 2001, 254–55, 270

“Serve One Master Only,” 143

shadow banking system, 258, 260

Sharkey-Brown-Isaacs Law, 212

Sherman Antitrust Act, 139, 211

Ships Unloading, New York, 66–67, 69, 74

short-term hybrid adjustable-rate mortgage (hybrid ARMS), 258

Silverman, Barton, 215

Simon, William E., 222, 223, 226, 239

Singapore, 2, 105, 280, 282, 283

Sins of New York as “Exposed” by the Police Gazette (Every), 132

slavery, 11, 65, 69, 70–71, 85

Sobel Brothers, 168, 169

Social Service Employees Union, 224

Soros, George, 239–40

The Souls of Black Folk (Du Bois), 86

Southern Mercury, 137

Speyer, James, 136, 137

Stabile, Francesco Rosario, 111, 113

Standard & Poor’s, 240, 259

steamship ticket, 113

Stillman, James, 103, 104, 137, 140

stock certificates, 20

Stockman, Judith, 228

Stoller, Ezra, 192, 209

Strong, Benjamin, 52

Strong, Benjamin, Jr., 150, 152, 154

Strong, George Templeton, 51, 63, 87, 88

structured finance, 258

Structured Investment Vehicles, 260, 264

subprime, 261, 264, 266, 267, 279

subprime mortgage, 258

Summers, Lawrence H., 253, 254

syndicate, rise of, 101–4

synthetic CDO, 258, 259

Tallis, Alfred, 36, 37, 38

Tannenbaum, Allan, 252, 253, 275

Tappan, Lewis, 56, 240

TARP. See Troubled Asset Relief Program

Taylor, Moses, 59–60, 60, 71, 75, 88, 93, 94, 95, 103

technologies, new, 235–36

Thain, John, 269, 270, 273

Thompson, John, 44, 80–81

Thompson, Martin E., 46

The Times, 34–35, 37, 51

tokens, “Hard Times,” 53

Tontine Coffee House, N.Y.C., 6–7, 9, 22

“too big to fail,” 258, 279

trading, proprietary, 257

Transatlantic cable, 94

Travelers Group, 234, 246

Treasury, U.S., 13, 72, 78–79, 115, 130, 187–88, 255, 266, 267, 273

Troubled Asset Relief Program (TARP), 272–74, 277

Truman, Harry S., 210, 213

Underwood and Underwood, 92, 93, 118–19

United States Steel Corporation Bond Specimen, 105

Untermyer, Samuel, 141, 142–44, 147, 148, 211

U.S. Steel, 102, 103, 209

Van Buren, Martin, 37, 48–49, 52, 53

Vanderbilt, Cornelius, 64, 110

Vanderlip, Frank, 104, 105, 150

Vietnam War, 213–14

Volcker, Paul, 243, 246, 282

Walling, George W., 145, 146

Wall St., 36, 37, 38

Wall Street, 2; bomb explosion (September 16, 1920), 153, 155; populists versus, 134, 136; strikes back, 136–37, 139. See also Occupy Wall Street