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March 17, 1995 - Image 63

Resource type:
Text
Publication:
The Detroit Jewish News, 1995-03-17

Disclaimer: Computer generated plain text may have errors. Read more about this.

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Berlin (JTA) - Germany's
largest and most powerful bank
aided in the expropriation of Jew-
ish possessions during World
War II and offered little resis-
tance to Nazi pressures to remove
Jews from the bank's board, ac-
cording to a soon-to-be-released
history commissioned by the
bank.
Deutsche Bank contracted five
well-known historians to research
and write Die Deutsche Bank
1870-1995, which will be pub-
lished this month to coincide with
the bank's 125th anniversary.
Deutsche Bank is one of a
growing number of German com-
panies that have begun to deal
with their Nazi past.
Last year, automobile manu-
facturer Daimler Benz funded the
publication of a book about prison
laborers at the company's facto-
ries during the war. Another book
is now being written about Volk-
swagen's use of forced labor un-
der the Third Reich.
Research on the Deutsche
Bank history was greatly aided
by the fall of the Berlin Wall in
1989. Some 12,000 documents on
the bank had been stored in the
former East German city of Pots-
dam, making them inaccessible
during the Cold War years.
Harold James, a British pro-
fessor who teaches at Princeton
University, wrote the chapter cov-
ering the Hitler period, from 1933
to 1945.
An 80-page excerpt of the chap-
ter written by Mr. James was
made available to the Jewish
Telegraphic Agency.
It details the fate of Deutsche
Bank's Jewish executives and the
bank's involvement in the expro-
priation of Jewish property.
Mr. James wrote that the
Deutsche Bank played a mixed
role in the expropriation of Jew-
ish property under the Nazis, but
that the bank has a "deep moral
guilt" as a result of its ties to the
Third Reich.
The chapter includes a section
about Oscar Wassermann, a Jew-
ish member of Deutsche's board
of directors in the 1920s and ear-
ly 1930s who was incorrectly
blamed for a bank crisis in 1931.
Two non-Jewish board members
were actually responsible for the
problem, Mr. James wrote.
Mr. Wassermann was at-
tacked by government officials as
a Jew and a Zionist. In May 1933,
bowing to the new Nazi govern-
ment, Mr. Wassermann, 64, and
Theodor Frank, 62, another Jew-
ish board member, were forced
off the board.
The Princeton professor also
recounted how several lower-
ranking employees of the bank
seized the Nazi ideology as a way
for them to advance their careers.
But he also recorded cases of
resistance. A branch director in
Frankenthal refused to turn over
a list of Jewish accounts to the
Nazi authorities.

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