The Deutsche Bank and the Nazi Economic War against the Jews: The Expropriation of Jewish-Owned Property

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9780521803298: The Deutsche Bank and the Nazi Economic War against the Jews: The Expropriation of Jewish-Owned Property

Deutsche Bank, Germany's largest financial institution, played an important role in the expropriation of Jewish-owned enterprises during the Nazi dictatorship, both in the existing territories of Germany, and in the areas seized by the German army during World War II, particularly Austria, Czechoslovakia, and Poland. Drawing on new and previously unavailable materials, including branch records, and many from the Bank's own archives, Harold James examines policies that led to the eventual Genocide of European Jews. How much did the realization of the Nazi ideology depend on the acquiescence, the complicity, and the cupidity of individuals and economic institutions? Contradicting the traditional view that businesses were motivated by profit to cooperate with the Nazi regime, James closely examines the behavior of the bank and its individuals to suggest other motivations. James' unparalleled access and unusual perspective distinguishes this work as the only book to examine one company's involvement in the economic persecution of the Jews in Nazi Germany. Harold James is Professor of History at Princeton University. He is a member of the Independent Commission of Experts investigating the political and economic links of Switzerland with Nazi Germany, and of commissions to examine the roles of Deutsche Bank and Dresdner Bank. He is the author of several books on Germany economy and society, including Germany: The German Slump (Oxford University Press, 1986), A Germany Identity 1770-1990 (Routledge, 1993), and International Monetary Cooperation Since 1945 (Oxford University Press, 1996). He co-edited several books, including The Role of Banks in the Interwar Economy (Cambridge, 1991). James was also co-author of an earlier history of the commercial bank Deutsche Bank (Deutsche Bank 1870-1995, Weidenfeld and Nicholson, 1995) which won the Financial Times Global Business Book Award in 1996. He lives in Princeton, New Jersey.

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The Deutsche Bank, Germany's largest financial institution, played an important role in the expropriation of Jewish-owned enterprises during the Nazi dictatorship. In response to the traditional view that business cooperation with the Nazi regime was motivated by profit, this book closely examines the behavior of the bank and its individuals in Germany and its seized territories to suggest other motivations. No comparable study exists of a single company's involvement in the economic persecution of the Jews in Nazi Germany.

From Publishers Weekly:

In a book that could be subtitled "Hitler's Willing Investment Bankers," Princeton historian James recounts the Deutsche Bank's participation in the "aryanization" of the German economy from 1932 to 1940, drawing on internal Deutsche Bank records that only recently became available as well as material seized by Soviet troops after World War II. He shows how, as the Nazis began to rise to power, the bank reluctantly purged itself of Jewish directors, followed by Jewish employees, in response to state pressure. Later, James reveals, the regime enlisted the bank employees' professional skills, domestic and foreign relationships, and financial muscle to eliminate Jewish control and ownership of German companies. The expropriation was conducted gradually, since many hastily seized companies proved worthless without the management of their Jewish former owners, and also because this method muted foreign criticism and preserved a veneer of legality. This stands in stark contrast to the brutally simple methods used by the Nazis in occupied countries and, after 1941, in Germany as well, explains James. While he finds it impossible to make an accurate estimate of the profit Deutsche Bank made from these activities and whether that profit might exceed postwar reparations, he suggests that extravagant figures cited by other researchers are baseless and implausible. His work will not carry weight with these critics, however, since it was subsidized by Deutsche Bank and is largely based on documents kept under their control for the last 50 years. (Mar. 15) Forecast: While the publisher has positioned this work as a nonfiction thriller revealing previously unimagined levels of corruption, it is actually a dry history that will primarily attract serious students of the period. James's moderate positions on the bank's profit and the guilt borne by bank managers is unlikely to win friends on either side of the controversy.
Copyright 2001 Reed Business Information, Inc.

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Book Description Book Condition: New. The Deutsche Bank, Germany's largest financial institution, played an important role in the expropriation of Jewish-owned enterprises during the Nazi dictatorship, both in the existing territories of Germany and in the area seized by the German army during World War II. This book draws upon Deutsche Bank records, as well as material seized by Soviet troops, to examine policies which led to the eventual genocide of European Jews. James shows how, as the Nazis began their rise to power, the bank reluctantly purged itself of Jewish directors, followed by Jewish employees, in response to state pressure. Later, the regime enlisted the bank employees' professional skills, domestic and foreign relationships and financial muscle to eliminate Jewish control and ownership of German companies. The traditional view that business co-operation with the Nazi regime was motivated by profit is here refuted. Bookseller Inventory # 1690

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