Tuesday, September 11, 2018

Oliver Bullough for The Grauniad blames all the wealth inequality today on an invention of a Jewish banker

Siegmund George Warburg, here, whose invention destroyed the Bretton Woods system.

Except Bullough never mentions he's the descendant of a long line of Jewish bankers who originated in Venice:

One banker in particular was not prepared to tolerate this: Siegmund Warburg. Warburg was an outsider in the cosy world of the City. For one thing, he was German. For another, he hadn’t given up on the idea that a City banker’s job was to hustle for business. In 1962, Warburg learned from a friend at the World Bank that some $3bn was circulating outside the US – sloshing around and ready to be put to use. Warburg had been a banker in Germany in the 1920s and remembered arranging bond deals in foreign currencies. Why couldn’t his bankers do something similar again?