Burn & Loot
Brown Bros. & Co. was founded in 1818 in Philadelphia, Pennsylvania as a merchant bank and trading company by George and John Brown, sons of former Ulster linen trader Alexander Brown. In 1825, third son James Brown (1791-1877) opened an office in New York City and another in Boston, Massachusetts in 1845. James Brown's son, John Crosby Brown (1838-1909) would be a driving force for growth, making Wall Street in New York the center for operations and seeing the bank become major lenders to the textile, commodities, and transportation industries.
In 1931, the firm merged with Harriman Brothers and Company, another Wall Street firm owned by W. Averell Harriman and E. Roland Harriman to form Brown Brothers Harriman & Co.
Brown and Root had a well-documented relationship with U.S. President Lyndon Johnson which began when he used his position as a Texas congressman to assist them in landing a lucrative dam contract. In return they gave him the funds to "steal" the 1948 Senate race from the popular Coke R. Stevenson. The relationship continued for years, with Johnson funneling dozens of military construction contracts to B&R.
Halliburton acquired Brown & Root in December 1962. According to Dan Briody, who wrote a book on the subject, the company became part of a consortium of four companies that built about eighty-five per cent of the infrastructure needed by the Army during the Vietnam War. At the height of the war resistance movement of the '60s, Brown & Root was derided as "Burn & Loot" by protesters and soldiers.
In 1931, the firm merged with Harriman Brothers and Company, another Wall Street firm owned by W. Averell Harriman and E. Roland Harriman to form Brown Brothers Harriman & Co.
Brown and Root had a well-documented relationship with U.S. President Lyndon Johnson which began when he used his position as a Texas congressman to assist them in landing a lucrative dam contract. In return they gave him the funds to "steal" the 1948 Senate race from the popular Coke R. Stevenson. The relationship continued for years, with Johnson funneling dozens of military construction contracts to B&R.
Halliburton acquired Brown & Root in December 1962. According to Dan Briody, who wrote a book on the subject, the company became part of a consortium of four companies that built about eighty-five per cent of the infrastructure needed by the Army during the Vietnam War. At the height of the war resistance movement of the '60s, Brown & Root was derided as "Burn & Loot" by protesters and soldiers.
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