Word: bankster
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Dates: during 1930-1939
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...great pity had the public for this 66-year-old bankster. The warrant on which he was arrested accused him of misappropriating over $300,000 of his depositors' funds. The charges as developed by the U. S. Attorney outlined a far larger story: that following the stockmarket crash of 1929 Harriman had made an attempt to maintain the price of his bank's stock at about $1,350 a share (1929 earnings were $55 a share and later earnings declined). He actually succeeded in maintaining the price in that neighborhood until April 1932. At that time the Harriman...
President Wilson), Bankster Caldwell gained favorable political ears. Because $6.400,000 of State funds were tied up in Caldwell banks when they closed, an angry legislature talked of impeaching Governor Horton. Bankster Caldwell was convicted of fraudulent breach of trust in substituting collateral securities of less than specified value. Higher courts reversed the conviction, however, and Bankster Caldwell has spent not one day in jail. Following this reversal, indictments were quashed. Bankster Caldwell considered himself vindicated...
After ten weeks of stormy trial, Chicago's John Bain, 64-year-old founder of a chain of twelve small banks that failed at one crack last year (TIME, June 22, 1931), was last week convicted of conspiracy to defraud depositors. Scottish immigrant, onetime plumber, Bankster Bain had prospered in real estate, then branched into banking. Before the Depression, his Midas reputation spread widely among the clerks and laborers of Chicago's Southside districts. Unsound real estate promotions, wholesale juggling of assets among his various banks, whisked over his house of cards. When the banks crashed with deposits...