The Baron of Wall Street - by William R Loomis Jr (Hardcover)

Book Synopsis

The definitive biography of one of the most influential and innovative figures in the history of American finance who revolutionized Wall Street and whose story reads like a real-life Great Gatsby

J.P. Morgan. John D. Rockefeller. Charles E. Mitchell. These are some of the most prominent icons of wealth and influence during the Roaring Twenties. Yet the one figure who has strangely escaped notice all these years is an enigmatic banker by the name of Clarence Dillon. In the dazzling 1920s, as he rose in wealth and influence, Dillon became one of the original behind-the-scenes players in Hollywood, and his contact list included everyone from Thomas Edison to Charlie Chaplin and Joseph P. Kennedy to FDR.

Like many great figures in history, Dillon's personality was complex and contradictory: he could be utterly ruthless and cold-blooded, yet he was also sophisticated and elegant. This immensely influential man left a lasting mark on the history of finance in America. Yet, strangely, he eluded the close attention of biographers and historians--until now.

A revolutionary in finance, Clarence Dillon single-handedly:

• Created modern bankruptcy law
• Pioneered leveraged buyouts
• Invented junk bonds
• Engineered some of the biggest mergers and acquisitions ever seen

This first-ever complete inside look at Dillon and his life will fill a void in how we view the wild excesses of the Roaring Twenties, and how we understand the increasingly complex nexus between Wall Street and political power in our own time. The Baron of Wall Street is a vivid, novelistic account of Wall Street's most formative years and its transformation through one dynamic and influential player in the financial world, highlighting his significant role in shaping US foreign policy today.

Review Quotes

"In The Baron of Wall Street, Bill Loomis offers a vivid portrait of one of the most influential figures of 20th century finance. Loomis traces Dillon's remarkable transformation from the son of Jewish immigrants to a powerful Wall Street financier whose influence rivaled that of Rockefeller and Morgan. Clarence Dillon's story is one of reinvention, ambition, and lasting impact - in finance, academia and government. A captivating biography that brings a man both respected and reviled to life."--Stephen A. Schwarzman, Chairman, CEO & Co-Founder of Blackstone

"What if Jay Gatsby had attained all he sought? William Loomis, a former senior Wall Street investment banker, chronicles the remarkable life of Clarence Dillon in The Baron of Wall Street. Dillon pioneered much of modern American finance amidst a fascinating supporting cast. The Baron of Wall Street is replete with new stories about the constellation of immediately familiar names, among whom Dillon blazed his brilliant career."--Paul Isaac, Founder and Portfolio Manager at Arbiter Partners

"William Loomis's The Baron of Wall Street is one of the most remarkable books I have read in a long time. His meticulously researched, highly readable account of the meteoric rise of Dillon Read's Clarence Dillon as one of Wall Street's giants in the first half of the twentieth century is much more than an excitingly told piece of U.S. and international business and financial history. In tracing the astonishing upward mobility of a man with modest Jewish immigrant family roots into the top of the country's social and business elite, Loomis has also written a fascinating account of U.S. social history. A highly entertaining page-turner, about the feats and foibles of men like Clarence Dillon who made Wall Street into the financial center of the world."--W. Michael Blumenthal, Secretary of the Treasury, '77-'79

"Clarence Dillion, The Baron of Wall Street, is a truly amazing, captivating, and exquisitely written history of the making of Wall Street. The extraordinary magic of the book is that it reads like a best-selling novel, rich in dialogues, enlightening vignettes, and charming antidotes. It will be a delightful surprise for anyone who is erroneously expecting a dry and slow-moving book riddled with dull financial facts. This story stretches from the Gilded Age through World War I, The Roaring Twenties, The Great Depression, World War II, and finally onto our modern times. It is seen through the unique life of Dillion, a Wall Street giant of the era, arguably one of the top five players who made Wall Street what it is today with its tremendous power and far-reaching influence in controlling the underpinnings of America's financial and corporate worlds. This intricate story about Wall Street is laid out with unvarnished truths, including its lushly described thorns and warts. Loomis' novelist style weaves compellingly together the intricate personal lives of dozens of national celebrities from Presidents to Hollywood moguls who are intertwined in unexpected ways. It simultaneously is a page-turner and a masterclass in the internal workings of Wall Street. Anyone who wants to understand Wall Street should read this wonderful financial thriller."--Jack Devine, former acting CIA director of operations, Chairman of The Arkin Group, and author of Spymasters' Prism and Good Hunting