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Other People's Money: And How the Bankers Use It
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Other People's Money: And How the Bankers Use It

3.48  ·  Rating details ·  71 Ratings  ·  14 Reviews
Reprint. Originally published in New York: F.A. Stokes, c1914. xv, 223 p. The book was based on the revelations of the House of Representatives' Pujo Committee about the predatory practices of J. P. Morgan and other big bankers. "Other People's Money" influenced both Woodrow Wilson's New Freedom agenda and Franklin Roosevelt's New Deal. It also offers valuable lessons for ...more
Paperback, 240 pages
Published April 2nd 2009 by Martino Fine Books (first published January 1st 1986)
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Laura
Apr 17, 2011 rated it really liked it  ·  review of another edition
Recommended to Laura by: Noah Feldman
Before he was a supreme court justice, Louis Brandeis wrote a series of articles for Harper’s Magazine that he fleshed out and expanded into this book. He was arguing for greater regulation, oversight, and openness in the banking industry after a series of collapses and scandals that caused a lot of harm. I have to confess I skimmed most of it – it was about people I only vaguely knew about involved in crashes I knew less of. But it had some great quotes. This one, particularly, jumped out at me ...more
Sinn
"Das Geld der Anderen" ist ein 100 Jahre altes Buch - und das merkt man an allen Ecken und Kanten. Aber: Das stört nicht im Geringsten, denn trotz Allem kann man ihm eine gewisse Aktualität nicht absprechen.

Zu der Zeit, als Brandeis (der ein geachteter Spezialist und aktiver Mann des Volkes war) es schrieb, machten J.P. Morgan und Konsorten gerade von sich reden. Ihre Macht nahm damals ihren Ausgang - und Brandeis benutzt ihr Beispiel um aufzuzeigen, wie schnell der Wohlstand eines ganzen Volkes
...more
Jeffrey
Dec 03, 2009 rated it really liked it
Brandies was the forefather of counseling in law. Before him lawyers were like doctors of today, coming to a patient's (client's) aid AFTER the fact. Brandies was the founder of preventative law. He was also an early pro-bono advocate, donating much of his time to charity cases. Some critics felt he was naive in his thinking (specifically related to trust busting but also other areas of idealism) but much of what he did was for the good of the layperson and also at the forefront of altruistic th ...more
Alkek Library
Jan 07, 2013 rated it it was amazing
Louis Brandeis's Other People's Money and How the Bankers Use It is a classic critique of the power Wall Street and financiers can wield.

The populist lawyer and later Supreme Court justice often critiqued and identified concentrated power as harmful to democracy.

In Other People's Money, Brandeis lays out his argument against the banks and Wall Street.

Brandeis claims that a small number of bankers use the people's own money deposits as the basis to control industry and finance. This power is then
...more
Charles Allan
Jan 15, 2013 rated it it was amazing
Louis Brandeis's Other People's Money and How the Bankers Use It is a classic critique of the power Wall Street and financiers can wield.

The populist lawyer and later Supreme Court justice often critiqued and identified concentrated power as harmful to democracy.

In Other People's Money, Brandeis lays out his argument against the banks and Wall Street.

Brandeis claims that a small number of bankers use the people's own money deposits as the basis to control industry and finance. This power is then
...more
Dana Reynolds
Jul 30, 2013 rated it really liked it  ·  review of another edition
The context is the Progressive Era in the U.S. that is, early 20th century. Therefore, some of the remedies Judge Brandeis suggests have either been implemented into law or no longer relevant in this era of outsourcing and globalization. Yet, his analysis about the greed of the ultra-rich is accurate and the conditions today are likely worse than his day. It is an important read for its historical context of capitalism, why that economic system will never meet the needs of the lower classes and ...more
Chris
Sep 08, 2012 rated it it was ok  ·  review of another edition
I assigned this as the first reading for and the second half U.S. Survey course and while I found the subject matter interesting the overall effect was less than satisfactory. I found myself bored reading the entire primary source, although the introductory essay by Melvin Urofsky was very good. The students have real trouble with the material--they got lost in the details and the economic ideas went over their heads. Instead of being challenging, as I hoped, it was simply confusing. I do not pl ...more
Larissa
Apr 28, 2009 rated it really liked it  ·  review of another edition
by the man behind "the curse of bigness." here brandeis marshals the facts and persuasively shows how concentrations of $ & power are deadly for democracy. not easy to read but contains great fundamentals on what a bank and a stockbroker actually are/ do.
Ry
Mar 24, 2012 rated it did not like it  ·  review of another edition
I thought this book was insanely boring. It took me a long time to read because I'd read around ten pages then fall asleep. But, I'm not the target audience for this book. It was a requirement for a class.
63alfred
Apr 02, 2012 rated it really liked it
Interesting, sounds like if we had listened to Mr. Brandeis we would have never have the 2008 crisis.
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Louis Dembitz Brandeis was an American lawyer and Associate Justice on the Supreme Court of the United States from 1916 to 1939.

He was born in Louisville, Kentucky, to Jewish immigrant parents from Bohemia, who raised him in a secular home. He enrolled at Harvard Law School, graduating at the age of twenty with the highest grade average in the law school's history.

Brandeis settled in Boston where
...more
More about Louis D. Brandeis...
“The statement of Mr. Justice Holmes of the Supreme Court of the United States, in the Oklahoma Bank case, is significant: “We cannot say that the public interests to which we have adverted, and others, are not sufficient to warrant the State in taking the whole business of banking under its control. On the contrary we are of opinion that it may go on from regulation to prohibition except upon such conditions as it may prescribe.” 1 likes
“They became the directing power in the life insurance companies, and other corporate reservoirs of the people’s savings-the buyers of bonds and stocks. They became the directing power also in banks and trust companies-the depositaries of the quick capital of the country-the life blood of business, with which they and others carried on their operations. Thus four distinct functions, each essential to business, and each exercised, originally, by a distinct set of men, became united in the investment banker. It is to this union of business functions that the existence of the Money Trust is mainly due.[1]” 1 likes
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