IDEAS home Printed from
   My bibliography  Save this paper

French investment banks and the earthquake of post-war shocks (1944-1946)


  • Hubert BONIN (GREThA UMR CNRS 5113 - Institut de Sciences Politique de Bordeaux)


After WWII and when the Libération governments reformed the country, a strong anticapitalist move set up against the powers of money. Arguments focused on the limits to fix for the pending nationalisations of firms by the State, either to punish bankers for their financial relations with German Europe, or to safeguard the State from the power of influence and submission attributed to the 200 Families or the Wall of Money, as they had been perceived since the interwar period where they were suspected of having suborned the political power. But part of the business circles still able to be heard and of parliamentary or administrative experts being aware of the genuine circuits of money, succeeded in convincing a majority at the Parliament to respect the private basis of a large fraction of the flows financing big business. The networks of “trust” which allowed to reach patrimonial assets of well-eased classes and the availabilities of big firms should be preserved, but also the knots of relations with the merchant and investment banks and with the financial places in foreign countries, mainly the Anglo-Saxon ones. This explains that Paribas and Banque de l’union parisienne escaped nationalisation.

Suggested Citation

  • Hubert BONIN (GREThA UMR CNRS 5113 - Institut de Sciences Politique de Bordeaux), 2010. "French investment banks and the earthquake of post-war shocks (1944-1946)," Cahiers du GREThA 2010-19, Groupe de Recherche en Economie Théorique et Appliquée.
  • Handle: RePEc:grt:wpegrt:2010-19

    Download full text from publisher

    File URL:
    Download Restriction: no

    More about this item


    Banking ; nationalisations ; pressure groupes ; anticapitalism ; Libération of France ; investment banks ; industrial banking;

    JEL classification:

    • N2 - Economic History - - Financial Markets and Institutions
    • N24 - Economic History - - Financial Markets and Institutions - - - Europe: 1913-
    • N44 - Economic History - - Government, War, Law, International Relations, and Regulation - - - Europe: 1913-
    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages

    NEP fields

    This paper has been announced in the following NEP Reports:


    Access and download statistics


    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:grt:wpegrt:2010-19. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Valerio Sterzi). General contact details of provider: .

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.