Other People's Money, and How the Bankers Use It

"Other People's Money and How the Bankers Use It" by Louis Dembitz Brandeis is an early 20th-century examination of the American financial system, focusing on how a handful of powerful investment bankers held significant control over the economy. It uncovers the rise of a "Money Trust," where consolidated banks and trust companies allowed a small group to dominate credit and business. Drawing on insights from influential figures like President Wilson, the book illustrates the consequences of this concentration of power, revealing how interlocking directorates and questionable financial practices stifle competition. The narrative emphasizes the critical need for reform to level the economic playing field and restore fairness.