Spring 2011, Vol. 36, No. 1

Abstract: Henry VIII’s dissolution of the English monasteries in the early 16th century and the expropriation of their wealth has odd parallels to some modern developments in American banking and finance. In this article, the author looks at how the large scale conversions of mutual savings institutions to publicly owned companies and the conversion of American investment banks from private partnerships to public corporations gives management and partners the opportunity to get rich–without really trying.