The Scandal That Triggered the Bank Collapse Crisis and Gave Rise to the FDIC

"Werner's account of the fall of the Bank of United States is as relevant today as it was over 70 years ago. The bank's failure helped prompt Congress to create FDIC insurance and protect savers from bank fraud and corruption. This crisis is strikingly similar to the one today and the book should be required reading for everyone interested in preventing problems in the future." --Charles R. Geisst, author of Wall Street: A History

"A closely knit, dramatic tale whose vigorous and searching analysis reveal a characteristic product of a period of mad speculations and dizzy finance." -- New York Times

Little Napoleons and Dummy Directors: Being the Narrative of the Bank of United States tells the spectacular story of a major New York bank and its dramatic crash in 1931. Based on the revelations of the ensuing investigation and trial, the author explains the bank's origin in 1913 as a modest, safe institution with a reputation for integrity whose character changed rapidly after the death of the bank's founder in 1928 and takeover by his son. The story of the bank then careens into a frenzy of expansion and reckless speculation ending with the bank's shocking decision to close its doors.