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Bernard BaruchAmerican financier
Date of Birth: 19.08.1870
Country:  USA |
Content:
- Early Life and Education
- Wall Street Success
- World War I and the Wilson Administration
- The New Deal and the Roosevelt Administration
- World War II and the Truman Administration
- Post-War Career
- Legacy
Early Life and Education
Bernard Baruch was born in Camden, South Carolina, in 1870 to Simon and Belle Baruch. His father was a German Jewish immigrant who had come to the United States in 1855 and served as a physician in the Confederate army during the American Civil War. Baruch graduated from the City College of New York in 1889 and began his career as a stockbroker.
Wall Street Success
In 1891, Baruch joined 'A.A. Housman & Company' as a partner, and in 1903, he founded his own brokerage firm. Baruch became one of the most prominent financiers in the country by the early 1900s. He was known as the "Lone Wolf of Wall Street" for his refusal to join established financial firms.
World War I and the Wilson Administration
During World War I, Baruch served as Chairman of the War Industries Board, advising President Woodrow Wilson on national defense and mobilizing the American economy for war production.
The New Deal and the Roosevelt Administration
Baruch was a close advisor to President Franklin Delano Roosevelt during the New Deal. He was instrumental in the creation of the National Recovery Administration (NRA) and played a significant role in international relations.
World War II and the Truman Administration
During World War II, Baruch continued to advise the government, proposing measures such as stockpiling rubber and tin and developing synthetic rubber. He is remembered for his daily walks in Washington's Lafayette Park, where he often conducted important government business.
Post-War Career
Baruch remained a government advisor until his death in 1965. In 1960, a memorial bench was placed in his honor in Lafayette Park across from the White House.
Legacy
Baruch was a successful financier, a trusted government advisor, and a philanthropist. He left a lasting legacy on the American economy and foreign policy.
