Smedley Butler: The Retired General Who Stopped a Wall Street Coup
Many Americans would be shocked to learn that political coups are part of our country’s history. Consider the Wall Street Putsch of 1933.
Never heard of it? It was a corporate conspiracy to oust Franklin D. Roosevelt, who had just been elected president.
With the Great Depression raging and millions of families financially devastated, FDR had launched several economic recovery programs to help people get back on their feet. To pay for this crucial effort, he had the audacity to raise taxes on the wealthy, and this enraged a group of Wall Street multimillionaires.
