Failure of the Credit Anstalt
Citations (1)
- Lords of Finance whole source · open book
On Friday, May 8, the Credit Anstalt, based in Vienna and founded in 1855 by the Rothschilds, with total assets of $250 million and 50 percent of the Austrian bank deposits, informed the government that it had been forced to book a loss of $20 million in its 1930 accounts, wiping out most of its equity.
chapter: 19. A LOOSE CANNON ON THE DECK OF THE WORLD - 1931