Bankers, philanthropists, scholars, socialites, artists, and politicians, the Warburgs stood at the pinnacle of German (and, later, of German-American) Jewry. They forged economic dynasties, built mansions and estates, assembled libraries, endowed charities, and advised a German kaiser and two American presidents. But their very success made the Warburgs lightning rods for anti-Semitism, and their sense of patriotism became increasingly dangerous in a Germany that had declared Jews the enemy. Ron Chernow's hugely fascinating history is a group portrait of a clan whose members were renowned for their brilliance, culture, and personal energy yet tragically vulnerable to the dark and irrational currents of the twentieth century.
I remember the name of the Jewish bankers: it’s the Warburgs! If you want a great vignette on why it’s important to have capital that’s mobile, study or just read any history of the Warburgs and what their family went through, and what all the Jewish families went through in the 30’s in Germany. And what the bankers had to do to move capital out of the country, and you get a very poignant punctuated appreciation for the need of having secure capital that you control!
