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Bernard Baruch, 1870-1965
A Wall Street financier who made millions speculating on commodities, Bernard Baruch believed that governments had a limited but statutory role to play in stabilizing markets and prices. Beginning with the presidency of Woodrow Wilson, Baruch's political connections, manipulation of the press, and financial contributions to senators and presidents enabled him to assume the role of eminence grise in the Democratic Party. Baruch initially played an important role in Roosevelt's early New Deal, later rejecting FDR's ambitious public works programs, and then with World War II resumed his role as "adviser to presidents." As with Wilson during World War I, he became the administration's public spokesman and chaired committees dealing with war production. Baruch retained his influence under Truman, serving as US ambassador to the UN Atomic Energy Commission, but would lose his role as "political kingmaker" soon afterward.
Douglas Chandor, 1948 |