Many big banks supported Nazis during WWII and refused to release hundreds of frozen Jewish bank accounts in Paris. In 1998 Barclays Bank paid 3.6 million dollars to Jews whose assets were seized fro Paris banks during WWII. Chase bank In Manhattan seized over 100 accounts held by Jews in the Paris branch during WWII. Unclassified reports about Chase activities indicate that Chase bank worked in closely with the German authorities in freezing Jewish assets. A French Government commission investigated the seizure of Jewish accounts and found that FIVE American banks had helped Nazis during World War II. Chase Manhattan, J.P. Morgan, Guaranty Trust Co, Bank of the City of New York and American Express. Goes to show you that big banks can't be trusted and to bail out banks versus the citizens of this country was ridiculous.
http://www.washingtonsblog.com/2012/07/big-banks-funded-the-nazis-and-launched-a-coup-against-the-president-of-the-united-states.html
http://en.wikipedia.org/wiki/Chase_(bank)#Purchase_of_Nazi_Germany.27s_Reichsmarks_During_WWII
Yes, lots of the big banks have roots in many travesties over the centuries and throughout the world. You do have power to research a bank, and to decide whether you want to use their services. I do all my banking with a credit union.
ReplyDeleteInteresting post! I enjoyed learning aboout banks and the problems they have experienced, it really opened my eyes!
ReplyDeleteSo far so good with my bank. But it just goes to show you cant trust everyone. I may have to do some research of my own for my bank as well. Money is the root of all evil as many say. To bad we cant all use it the way it should be used, as a tool of survival and not as a source of temporary happiness.
ReplyDelete