I read in the New Yorker that George W. Bush’s grandfather and great-grandfather worked for Brown Brothers Harriman, and had clients who funded the building of the Nazi regime. I searched the Net and found hundreds of sites giving volumes of details and listing sources like the New York Times and the Library of Congress. Conspiracy theories aside, what’s the truth about our president’s family?
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Though the Bush family’s detractors are legion, one of the most prominent is John Loftus, a former federal prosecutor and past president of the Florida Holocaust Museum in Saint Petersburg. In 1994 Loftus coauthored a book with Mark Aarons entitled The Secret War Against the Jews: How Western Espionage Betrayed the Jewish People. The book alleges various misdeeds by George W.’s father, George H.W., and his grandfather, Prescott Bush.
The central charge against Prescott Bush has a basis in fact. In 1942, under the Trading With the Enemy Act, the U.S. government seized several companies in which he had an interest. Prescott at the time was an investment banker with Brown Brothers Harriman (BBH), which had funneled U.S. capital into Germany during the 1920s and ’30s. Among the seized companies was the Union Banking Corporation (UBC) of New York, which was controlled by German industrialist Fritz Thyssen. Thyssen had been an early financier of the Nazi party–in fact, in 1941 he published a book entitled I Paid Hitler. Ergo, Prescott helped finance the Nazis.
Loftus tells me there’s more to it than that. He says that the value of German industrial assets in which Bush and friends invested increased during World War II, in part due to slave labor, and that Bush benefited from this increase when the assets were returned–supposedly he got $1.5 million when UBC was liquidated in 1951. I’ll buy the claim that Bush got his share of UBC back–it was an American bank, after all–but the idea that his German holdings increased in value despite being obliterated by Allied bombs is ridiculous.
