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The Last Partnerships: Inside the Great Wall Street Money Dynasties by Charles R. Geisst (McGraw Hi

Traders Magazine, June 2001

Gregory Bresiger

Partnerships built Wall Street. And the rest of the American economy. Today the scions of these partnerships are financing much of the rest of the world, including some of the poor fish who for generations were believers in the hocus pocus of those who railed that markets equaled exploitation and investment bankers should be stood up against a wall.

Corporations and publicly traded companies, the business entities that now dominate our lives, were unknown quantities in the early 19th century. Just about all the great securities firms and investment banking shops used the partnership form at the beginning of their existence.

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