Word: banker
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Dates: during 1950-1959
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...whose views were most eagerly sought is a tall (6 ft. i in.), slim (160 Ibs.), handsome New Yorker named Henry Clay Alexander. At 57, Alexander is chairman of Manhattan's Morgan Guaranty Trust Co. and perhaps the nation's most prestigious banker. He is heir to the famed tradition of the House of Morgan, which created huge industrial firms, bailed out whole governments and at the turn of the century all but controlled the financial destiny of the U.S. Morgan is still a name to conjure with. Its famed building at 23 Wall St. is known throughout...
...Villain: Congress. Banker Alexander agrees with the general view that part of money's tightness-and the highest interest rates (5% and up) in 28 years-is the result of demand for credit spawned by the strong upsurge of the new boom. But it is also the result of fumbled fiscal policy. Who is to blame for that? Says Alexander: "The Administration's policy is good, and the Treasury is doing all it can.'' The real villain, he says, is Congress. It has refused to raise the 47% ceiling rate on long-term Treasury bonds, thus...
...Yacht. Despite the squeeze, hardly any banker is going to be beastly to a borrower. Reason: a great change has swept over U.S. banking. The banker whose thin lips seemed to be permanently fixed in a no has been succeeded by the banker with a neighborly twinkle in his eye. The soft sell has replaced the hard...
From the Maelstrom. An era had ended, and many of the oldtime bankers had gone with it. For the new type of bank that emerged from the maelstrom, a new type of banker was needed. One of the new bankers was Henry Clay Alexander. He was not saddled with the marks of wealth, caste and privilege. He was born in humble circumstances, the son of a grain and feed merchant in Murfreesboro, Tenn. He did not attend the best Eastern prep schools, had worked his way through Vanderbilt University, saved enough to go on to Yale Law School...
...power, and in the end it led even to respectability. To get money, he trampled over the less cunning, blandly jobbed the unsuspecting; he married the casually pregnant daughter of the big man in Frenchman's Bend, and with equal blandness allowed himself to be cuckolded by a banker because it helped Flem to become the bank's president. Behind him he left a trail of foreclosed mortgages, underhanded legal victories, cold-blooded assaults on human decency. In him Faulkner raised a monument not only to the worst kind of Southerner, but to the worst in man everywhere...