Page 165 - Dragon Flood

Roosevelt & O'Connor (120 Broadway); a partner in Marvin, Hooker & Roosevelt (52
Wall Street); the president of United European Investors, Ltd. (7 Pine Street); a director
of International Germanic Trust, Inc. (in the Standard Oil Building at 26 Broadway); a
director of Consolidated Automatic Merchandising Corporation, a paper organization;
a trustee of Georgia Warm Springs Foundation (120 Broadway); a director of American
Investigation Corporation (37-39 Pine Street); a director of Sanitary Postage Service
Corporation (285 Madison Avenue); the chairman of the General Trust Company (15
Broad Street); a director of Photomaton (551 Fifth Avenue); a director of Mantacal Oil
Corporation (Rock Springs, Wyoming); and an incorporator of the Federal International
Investment Trust.

That's a pretty fair list of directorships. It surely earns FDR the title of Wall Streeter par
excellence. Most who work on "the Street" never achieve, and probably never even dream
about achieving, a record of 11 corporate directorships, two law partnerships, and the
presidency of a major trade association.

In probing these directorships and their associated activities, we find that Roosevelt was
a banker and a speculator, the two occupations he emphatically denounced in the 1932
Presidential election.
[Source: Wall Street and the Bolshevik Revolution, Antony C. Sutton]

In 1914 President Woodrow Wilson appointed Franklin Roosevelt’s “favorite uncle”
Frederic Adrian Delano to a position on the Federal Reserve. From 1931 to 1936 Fred
Delano was chairman of the board of the Federal Reserve Bank of Richmond, VA.

The media at the time of his first Presidential race portrayed F.D.R. as a common man, and
a corporate outsider opposed to big banking. Herbert Hoover, whom F.D.R. ran against,
was characterized as a pawn of the bankers, and insensitive to the common man. The truth
was radically different from the media portrayal. The news was definitely being “spun” to
get Roosevelt elected. His connections to big banking, including J.P. Morgan, were legion.

Franklin Delano Roosevelt was also descended on the Roosevelt side from one of the oldest
banking families in the United States. FDR's great-grandfather James Roosevelt founded
the Bank of New York in 1784 and was its president from 1786 to 1791. The investment
banking firm of Roosevelt & Son of New York City was founded in 1797, and in the 1930s
George E. Roosevelt, FDR's cousin, was the fifth member of the family in direct succession
to head the firm. So the New York City banking roots of the Roosevelt family extend
without interruption back into the late 18th century. In the industrial sphere James
Roosevelt built the first American sugar refinery in New York City in the 1740s, and
Roosevelts still had connections with Cuban sugar refining in the 1930s. FDR's father, also
named James Roosevelt, was born at Hyde Park, New York in 1828 into this old and
distinguished family. This James Roosevelt graduated from Harvard Law School in 1851,
became a director of the Consolidated Coal Company of Maryland and, like the Delanos
in subsequent years was associated with the development of transportation, first as
general manager of the Cumberland & Pennsylvania Railroad, and then as president of
the Louisville, New Albany & Chicago Railroad, the Susquehanna Railroad Co.,
Champlain Transportation Co., Lake George Steamboat Co., and New York & Canada