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Wall Street and FDR

The True Story of How Franklin D. Roosevelt Colluded with Corporate America

Antony C. Sutton

200 pp.  
5 1/2" x 8 1/2"

Clairview Books

“Sutton comes to conclusions that are uncomfortable for many businessmen and economists. For this reason his work tends to be either dismissed out of hand as ‘extreme’ or, more often, simply ignored.” —Richard Pipes, Baird Professor Emeritus of History, Harvard University (quoted from Survival Is Not Enough: Soviet Realities and America’s Future)

Franklin Delano Roosevelt is frequently described as one of the greatest presidents in American history. He is also remembered for his leadership during the Great Depression and World War II. Antony Sutton challenges this received wisdom, presenting a controversial but convincing analysis. Based on an extensive study of original documents, Sutton concludes that FDR was an elitist who influenced public policy to benefit special interests, including his own; that FDR and his Wall Street colleagues were “corporate socialists” who believed in making society work for their own benefit; and that FDR believed in business but not in free-market economics.

Sutton describes the genesis of “corporate socialism”—acquiring monopolies by means of political influence—which he characterizes as “making society work for the few.” He traces the historical links of the Delano and Roosevelt families to Wall Street, as well as Roosevelt’s own political networks developed during his early career as a financial speculator and bond dealer.

The New Deal almost destroyed free enterprise in America, but did not adversely affect FDR’s circle of old friends ensconced in select financial institutions and federal regulatory agencies. Together with their corporate allies, this elite group profited from the decrees and programs generated by their pal in the White House, while thousands of small businesses suffered and millions were unemployed.

Wall Street and FDR is much more than a fascinating historical and political study. Many contemporary parallels can be drawn to Sutton’s powerful presentation given the recent banking crises and worldwide governments’ bolstering of private institutions via the public purse.

This classic study is reproduced here in its original form. First published in 1975 as the conclusion to a key trilogy, the other volumes in the series are Wall Street and the Rise of Hitler and Wall Street and the Bolshevik Revolution.

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