Sullivan and Cromwell - The Story of German Bonds

Within the first year, americans lent a hundred and 50 million to germany. Sullivan and cromwell pervised many, many issuances of german bonds for all sorts of german debt. They came so fast that they were filled with errors. Some prospectuses had not even been proof read. Loans were purposely deceptive. In 19 26, bavarian bond prospectus began with the bavaria has an excellent financial history,. when, in fact, bavaria had defaulted on their loans just the year before, in 19 25. And mind you, this is valued. This is billions valued in 19 twenties, teen thirty's currency. So we will finish the