Category Archives: Finance

Power Broker by Robert Caro – Summary & Analysis of Chapter 44

Chapter 44 – Moustache and the Bard

Robert Moses loved Shakespeare and was keen on the presentations of the plays in Central Park’s amphitheatre, one of Moses’s projects. These were put on by Joseph Papirofski, better known as Joseph Papp. These were well received presentations put on for free attracting all incomes and classes. Moses was pleased with the success. Moses said he would raise the money for a new season and his Executive Officer at the Parks Department, Stuart Constable, informed him of it. Constable however was suspicious of Papp, suspecting him of being a communist. Three months before the festival was to begin, Constable informed Papp, without consulting Moses, that there was no money to put it on.

Moses was unaware of this, but he was famous for supporting his staff. When Papp asked Moses directly, Moses sent him a letter informing him that, despite his promise, there would be no more money. Papp soon realised that the barrier to him was one of political philosophy. However, Papp was a master publicist. He went to the press on the attack. Papp used quotes from the Bard to make his case. Moses showed some respect, but still refused to overrule Constable. However, the press was on Papp’s side. Moses responded by organising behind the scenes pressure and innuendo. Moses followed Constable’s lead and accused Papp of communist sympathies. But the McCarthy era had ended in 1954 and these accusations did not have the same weight. Pub continued his literate attack. He highlighted the civilising effect of Shakespeare in the Park. He attacked Moses’s innuendos directly and he had the press on his side. It was Moses against Shakespeare.

The further erosion of Moses’s name was continuing. Moses now started to fear what was happening and this showed itself in failing health. He had started to look old. The press now wanted the decision to be reversed and started to put pressure on the Mayor. Eventually, Wagner succumbed to pressure and arranged a meeting with Moses, but emerging from that meeting, Wagner had been persuaded to support Moses.

Moses imposed new criteria for the festival, that the festival should raise their own funds. But with the help of local philanthropists, Papp overcome them and the festival went ahead. Papp was now a hero to the local liberals. By 1965, Papp’s troops were playing Shakespeare all over the city.

This battle further tipped the balance against Moses. Moses had become a villain to the public and the press. They knew that in the power struggle between the Mayor and Moses, Moses held the upper hand. The press became merciless.

Analysis & Key Takeaways
  • The press turns against Moses.
The Power Broker is a Pulitzer Prize Winner
Chapter 1Chapter 2Chapter 3
Chapter 4Chapter 5Chapter 6
Chapter 7Chapter 8Chapter 9
Chapter 10Chapter 11Chapter 12
Chapter 13Chapter 14Chapter 15
Chapter 16Chapter 17Chapter 18
Chapter 19Chapter 20Chapter 21
Chapter 22Chapter 23Chapter 24
Chapter 25Chapter 26Chapter 27
Chapter 28Chapter 29Chapter 30
Chapter 31Chapter 32Chapter 33
Chapter 35Chapter 36Chapter 37
Chapter 38Chapter 39Chapter 40
Chapter 41Chapter 42Chapter 43
Chapter 44Chapter 45Chapter 46
Chapter 47Chapter 48Chapter 49
Chapter 50

Power Broker by Robert Caro – Summary & Analysis of Chapter 27

Chapter 27 – Changing

Power and Personality – Interplay.

Moses now started to seek power for its own sake. In 1936, the New York City Tunnel Authority was established to build a Queens Mid-town tunnel. Moses asked to be a member but received no support from La Guardia and as a public official was ineligible. Moses persisted to get appointed but failed. He therefore resolved to destroy it.

The Mid-town tunnel experienced delays which threatened the necessary funding. Moses worked to delay it further by keeping the enabling bill stuck in committee. Most contemporaries thought that Moses tried to destroy the project purely because it was a challenge to his power. This revealed the lengths Moses would go to gain control.

As Federal housing funding became available, Moses hastily made up his own housing plans. The vast power involved attracted Moses. Moses circumvented the Mayor and presented his housing program directly to potential investors and the media, a program that conflicted with the Mayor’s own. However, a copy of the plan had fallen into La Guardia’s hands. As Moses was supposedly broadcasting his program to a large audience, La Guardia had cut him off the air. La Guardia also ensured that the Housing Committee rejected all Moses’s plans. Moses did not receive any of the housing projects.

La Guardia then moved to reduce Moses’s power in parks and transportation. The Mayor started to try to channel Moses’s energy into other areas of public works. However, Moses had always been skilled in taking a small institution and turning it into a source of great power. He was now to turn his mind to the institution known as the Public Authority.

Analysis & Key Takeaways
  • Moses gained equal status with La Guardia through various means.
The Power Broker is a Pulitzer Prize Winner
Chapter 1Chapter 2Chapter 3
Chapter 4Chapter 5Chapter 6
Chapter 7Chapter 8Chapter 9
Chapter 10Chapter 11Chapter 12
Chapter 13Chapter 14Chapter 15
Chapter 16Chapter 17Chapter 18
Chapter 19Chapter 20Chapter 21
Chapter 22Chapter 23Chapter 24
Chapter 25Chapter 26Chapter 27
Chapter 28Chapter 29Chapter 30
Chapter 31Chapter 32Chapter 33
Chapter 35Chapter 36Chapter 37
Chapter 38Chapter 39Chapter 40
Chapter 41Chapter 42Chapter 43
Chapter 44Chapter 45Chapter 46
Chapter 47Chapter 48Chapter 49
Chapter 50

Power Broker by Robert Caro – Summary & Analysis of Chapter 41

Part 7 – The Loss of Power

Chapter 41 – Rumours and the Report of Rumours

Highways were only one field of Moses’s activities. There was also housing and the associated slum clearance. A few perceptive people began to see something sinister in what was going on.

In the early 1950s, Reformers had heard rumours about Moses’s clearance sites. When the Reformers visited Moses’s clearance sites they saw the disaster that was the relocation programme.  In front of some of the brownstones, large garbage cans began to appear. This meant that many more people were living in these houses than before. Neighbourhood became more racially mixed and significantly poorer, and with poverty came social problems. Good neighbourhoods were becoming slums. A repository for all the people cleared out in the wake of the new highways.

By 1953, people began to be fully aware of what was going on. If people were being hounded out of their homes, they would move to other areas, increasing the size of the slums. They felt the people should be made aware of what was going on, but their main means of communication, the press, was not interested. They were reluctant to attack Moses.

The Reformers therefore decided to do the research themselves. Statistics were difficult to come by. Moses and his colleagues had manipulated them had hidden them well. Many volunteers visited the highway sites and saw the reality of the relocation programs. Many people had been moved to buildings that were mere shells. They saw the implications for the city. New slums were being created faster than the old ones were being developed. Backed up with the research into the true statistics and plans, the true nature of the relocation plans was revealed. The researchers expected prominent display of their report in the press, but Moses and his team suppressed this. False statistics were inserted into the report. The report was issued nine months after it had been completed, with the changes added by Moses which changed the entire argument of the report. Of all the city’s press, only the New York Post published the report. It was never mentioned in the press again.

However, a commission was set up in late 1954 to investigate the sales of $15M worth of real-estate to one of Moses’s preferred partners for $1M. On investigation it was found that far from being demolished, the apartments were being kept open and rented out. A network of collusion was uncovered where everybody involved in the project was getting rich, and this was only one of many contracts. A normal press investigation would have blazed this all over the city. But the press, still enamoured with Moses, kept his name out of it. Not one investigative reporter was put on the story. As late as 1956, the protests to the plans was still an underground movement. The legend of Moses would have to be tarnished before a real change could occur.

Analysis & Key Takeaways
  • Moses was able to control the press in order to suppress the story.
  • Corruption requires a network.
The Power Broker is a Pulitzer Prize Winner
Chapter 1Chapter 2Chapter 3
Chapter 4Chapter 5Chapter 6
Chapter 7Chapter 8Chapter 9
Chapter 10Chapter 11Chapter 12
Chapter 13Chapter 14Chapter 15
Chapter 16Chapter 17Chapter 18
Chapter 19Chapter 20Chapter 21
Chapter 22Chapter 23Chapter 24
Chapter 25Chapter 26Chapter 27
Chapter 28Chapter 29Chapter 30
Chapter 31Chapter 32Chapter 33
Chapter 35Chapter 36Chapter 37
Chapter 38Chapter 39Chapter 40
Chapter 41Chapter 42Chapter 43
Chapter 44Chapter 45Chapter 46
Chapter 47Chapter 48Chapter 49
Chapter 50

Power Broker by Robert Caro – Summary & Analysis of Chapter 28

Chapter 28 – The Warp on the Loom

The Public Authority was a part private, part public authority and new in the United States, originally set up to collect tolls on rural roads. They mainly became established during the New Deal. Each had been established to fund one new development through the issue of bonds before turning them over to the city. The authority would thus be wound down.

The tolls collected for the new bridges was earning far more than was originally conceived. Normally this meant that the tolls would end faster than usual. However, Moses saw the extra revenues as a source of funds for further development, funds which would have little of the restrictions applying to federal funds. The increase in traffic over the bridges made them a much more attractive investment for the bankers and authorities could issue bonds to raise even more funds. There would need to be a change in the law to allow Moses to keep the surplus and to extend the life of the authority indefinitely. This change would give him the power and the money equivalent to running a sovereign state.

Moses drafted a new Triborough Act for the running of the Triborough Authority, allowing it to re-issue bonds indefinitely. As the authority could only be wound down once the bonds were paid off, the authority could exist indefinitely. The Act also expanded the role of the authority which would now encompass any connected development to the original development. This would allow the Triborough Authority to effectively develop parks, roads and bridges anywhere in the city. More than this, it could develop anything that connected with these developments such as housing. When the Act was passed, the Triborough Authority, and Moses as its Chairman, had as much power over city development as the City of New York.

With the new power of the Authority, Moses has a major say in any development over the whole of the New York metropolitan area. Moses’s methods of persuasion would require secrecy and the Authority would give that secrecy. It would also give him the image of independence over red tape, the champion of the people over the dead hand of bureaucracy. This new institution would be the vehicle for the realisation of his dreams and the new head office would be on Randall’s Island, a moat protected kingdom outside of the jurisdiction of the city.

Moses no longer needed the protection of the Mayor and it was no longer politically possible for the Mayor to fire Moses. From then on, Moses no longer treated La Guardia as a superior, but as an equal.

Analysis & Key Takeaways
  • Robert Moses’ largest defeat was pushing for the Brooklyn Battery Bridge: it was because of Mrs Roosevelt that his plan was thwarted apparently. Or it was just not a good plan and with hindsight, car dependency was a growing problem.
The Power Broker is a Pulitzer Prize Winner
Chapter 1Chapter 2Chapter 3
Chapter 4Chapter 5Chapter 6
Chapter 7Chapter 8Chapter 9
Chapter 10Chapter 11Chapter 12
Chapter 13Chapter 14Chapter 15
Chapter 16Chapter 17Chapter 18
Chapter 19Chapter 20Chapter 21
Chapter 22Chapter 23Chapter 24
Chapter 25Chapter 26Chapter 27
Chapter 28Chapter 29Chapter 30
Chapter 31Chapter 32Chapter 33
Chapter 35Chapter 36Chapter 37
Chapter 38Chapter 39Chapter 40
Chapter 41Chapter 42Chapter 43
Chapter 44Chapter 45Chapter 46
Chapter 47Chapter 48Chapter 49
Chapter 50

Power Broker by Robert Caro – Summary & Analysis of Chapter 45

Chapter 45 – Off to the Fair

In May 1959, the New York’s Citizens Union made an information request to Moses regarding the sponsors of the slum clearance program. Moses replied that the records would be available to any responsible body. This was to be one of Moses’s biggest mistakes. At this time, Moses was preparing for the opening of a new dam and he was often working sixteen hours a day so he may have been distracted. Also, his influence with the press may have assured him that nothing would come of the revelations.

He tried to stall, but he could not stall indefinitely. Eventually the files had to be released and journalists were given access to Triborough headquarters. This was the first time in thirty-five years that any of Moses’s files had been made available. The files had been stripped of much crucial information, but the journalists continued to look and one day they found something.

They found an application by a potential sponsor for slum clearance who had links to gangsters. This scandal had something different. The press now had evidence of Moses’s links, however tenuous, to organised crime. A whole platoon of investigative reporters descended on the files. The deals between the Public Works Commission and shady sponsors, including politicians and Mafia bosses, at the expense of the people of New York, became clearer day by day, and Moses was at the centre of it.

The effect on the press on the publication of the revelations was profound. Previously cynical old hacks now became more friendly with the young investigative reporters, resulting in a press room at City Hall no longer cowed by the prestige of Moses and the Mayor. Publishers who had previously blocked stories about Moses were allowing them through. Even the Moses friendly New York Times was running front page stories linking Moses with scandals.

Moses continued to bombard publishers with complaints about the stories as well as seeking support from influential friends and contacts, but these efforts were starting to tip the balance against him. By the end of 1959 the truth about Moses was clear and his reputation was in ruins.

Moses however had one last thing going for him. Due to the amount of power and money he controlled through Triborough, he could not be fired. Reporters continued to ask Wagner what he was going to do about Moses, but Wagner was helpless and could only bluster. The showdowns between the Mayor and Moses were waited for with expectation by press and public alike, but they never came.

In the summer of 1959 however, a graceful way out was offered to Moses: The World’s Fair. Spending for this would be on an international scale. He could not keep his current city jobs if he was to be involved in the World’s Fair, but he could keep his lucrative Triborough job and through this retain control of over $2 billion worth of public works projects. The World’s Fair would give him a clean slate on a clean site. The Fair would rescue his reputation. It would be big news nationally and internationally. Moses thought it would be the project that would crown his career.

Analysis & Key Takeaways
  • World’s Fair excites Moses.
The Power Broker is a Pulitzer Prize Winner
Chapter 1Chapter 2Chapter 3
Chapter 4Chapter 5Chapter 6
Chapter 7Chapter 8Chapter 9
Chapter 10Chapter 11Chapter 12
Chapter 13Chapter 14Chapter 15
Chapter 16Chapter 17Chapter 18
Chapter 19Chapter 20Chapter 21
Chapter 22Chapter 23Chapter 24
Chapter 25Chapter 26Chapter 27
Chapter 28Chapter 29Chapter 30
Chapter 31Chapter 32Chapter 33
Chapter 35Chapter 36Chapter 37
Chapter 38Chapter 39Chapter 40
Chapter 41Chapter 42Chapter 43
Chapter 44Chapter 45Chapter 46
Chapter 47Chapter 48Chapter 49
Chapter 50