Excerpts from

 How Prescott Bush (George W's grandfather) Served Hitler's Agenda
 

By Ben Aris and Duncan Campbell
Guardian Unlimited (UK), September 25, 2004

See also Bush, Beliefs, and elusive Bonesmen | America's Secret Establishment

George H. W. Bush: The Unauthorized Biography

"George Bush's grandfather, the late US senator Prescott Bush, was a director and hareholder of companies that profited from their involvement with the financial backers of Nazi Germany.... His business dealings, which continued until his company's assets were seized in 1942 under the Trading with the Enemy Act, has led more than 60 years later to a civil action for damages being brought in Germany against the Bush family by two former slave labourers at Auschwitz and to a hum of pre-election controversy....

"... the new documents, many of which were only declassified last year, show that even after America had entered the war and when there was already significant information about the Nazis' plans and policies, he worked for and profited from companies closely involved with the very German businesses that financed Hitler's rise to power....

"While there is no suggestion that Prescott Bush was sympathetic to the Nazi cause, the documents reveal that the firm he worked for, Brown Brothers Harriman (BBH), acted as a US base for the German industrialist, Fritz Thyssen, who helped finance Hitler in the 1930s.... The Guardian has seen evidence that shows Bush was the director of the New York-based Union Banking Corporation (UBC) that represented Thyssen's US interests and he continued to work for the bank after America entered the war.... Bush was also on the board of at least one of the companies that formed part of a multinational network of front companies to allow Thyssen to move assets around the world....

"During the war, the company [CSSC] made use of Nazi slave labour from the concentration camps, including Auschwitz. The ownership of CSSC changed hands several times in the 1930s, but documents from the US National Archive declassified last year link Bush to CSSC, although it is not clear if he and UBC were still involved in the company when Thyssen's American assets were seized in 1942.

"Three sets of archives spell out Prescott Bush's involvement. All three are readily available, thanks to the efficient US archive system and a helpful and dedicated staff at both the Library of Congress in Washington and the National Archives at the University of Maryland.... The third set of documents, also at the National Archives, are contained in the files on IG Farben [maker of the cyanide-based Zyklon B gas used in the Nazi death chambers] who was prosecuted for war crimes.

"Prescott Bush... was the founder of the Bush political dynasty.... Like his son, George, and grandson, George W, he went to Yale where he was, again like his descendants, a member of the secretive and influential Skull and Bones student society. He was an artillery captain in the first world war and married Dorothy Walker, the daughter of George Herbert Walker [whose son, George Herber Walker, Jr. was a bonesman], in 1921.

"In 1924, his father-in-law, a well-known St Louis investment banker, helped set him up in business in New York with Averill Harriman [bonesman], the wealthy son of railroad magnate E H Harriman.... One of the first jobs Walker gave Bush was to manage UBC. Bush was a founding member of the bank and the incorporation documents.... The bank was set up by Harriman and Bush's father-in-law to provide a US bank for the Thyssens, Germany's most powerful industrial family....

"After hearing Adolf Hitler speak, Thyssen became mesmerised by the young firebrand. He joined the Nazi party in December 1931 and admits backing Hitler in his autobiography, I Paid Hitler...  By the late 1930s, Brown Brothers Harriman, which claimed to be the world's largest private investment bank, and UBC had bought and shipped millions of dollars of gold, fuel, steel, coal and US treasury bonds to Germany, both feeding and financing Hitler's build-up to war.....

"Thyssen's partner in United Steel Works, which had coal mines and steel plants across the region, was Friedrich Flick, another steel magnate who also owned part of IG Farben, the powerful German chemical company. Flick's plants in Poland made heavy use of slave labour from the concentration camps in Poland.....

"Bush's friend and fellow 'bonesman' Knight Woolley, another partner at BBH, wrote to Averill Harriman [bonesman] in January 1933 warning of problems with CSSC after the Poles started their drive to nationalise the plant....

"'This was the mechanism by which Hitler was funded to come to power... this was the mechanism by which Nazi profits were repatriated back to the American owners, this was the mechanism by which investigations into the financial laundering of the Third Reich were blunted,' said Loftus, who is vice-chairman of the Holocaust Museum in St Petersburg. 'The Union Banking Corporation was a holding company for the Nazis, for Fritz Thyssen,' said Loftus.... Loftus said Prescott Bush must have been aware of what was happening in Germany at the time. 'My take on him was that he was a not terribly successful in-law who did what Herbert Walker told him to. Walker and Harriman were the two evil geniuses, they didn't care about the Nazis any more than they cared about their investments with the Bolsheviks.'...

"...documents from the Harriman papers include a flattering wartime profile of Harriman in the New York Journal American and next to it in the files is a letter ... from Prescott Bush congratulating the paper for running the profile. He added that Harriman's 'performance and his whole attitude has been a source of inspiration and pride to his partners and his friends'."

Read the whole article at http://www.guardian.co.uk/print/0,,5024413-110878,00.html


See also Bush Believes in Universalism?

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