Prescott Sheldon Bush & Union Banking Corporation

Prescott Bush

From Wikipedia, the free encyclopedia

Prescott Sheldon Bush (May 15, 1895 – October 8, 1972) was a Wall Street executive banker, and a 

United States Senator representing Connecticutfrom 1952 until January 1963. He was the father of 

George H. W. Bush, 41st President of the United States and the grandfather of George W. Bush, 

43rd President of the United States
.

Union Banking Corporation

Bush was one of seven directors of the Union Banking Corporation, an investment bank controlled by

 the Thyssen family which served as part of a network of front companies allowing Thyssen to move 

assets around the world.^[2] In July 1942 the bank was suspected of holding gold on behalf of Nazi 

leaders.^[3] A subsequent government investigation disproved those allegations, but confirmed the 

Thyssens' control, and in October 1942 the bank was seized under the Trading with the Enemy Act. 

The assets were held by the government for the duration of World War II, then returned afterward.^[2]

Joe Conason said that Bush's involvement with UBC was purely commercial and that he was not a 

Nazi sympathizer.^[4] The Anti-Defamation League^[5] and historian Herbert Parmet^[6] agreed with that 

assessment.

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Below is more info on Prescott Bush. Just hit the links.

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How Bush's grandfather helped Hitler's rise to power

Report: George W. Bush's Grandfather Plotted Fascist Coup to Overthrow America