National Book Award winner Ron Chernow expertly traces the decline of the big bankers and the rise of small investors. The reader is taken on a fascinating tour of Anglo-American high finance over the past two centuries, with detours into Canadian, German and Japanese finance. As the point of departure for his colourful, panoramic survey, Mr. Chernow poses a historic riddle: Why did the great financial dynasties - the Rothschilds, Barings, Morgans and Warburgs - flare so brilliantly in the 19th and 20th centuries and then enter into a precipitous decline? Why did such heavyweights give way to more anonymous financial conglomerates? And, most curious of all, why have small investors, banded together in mutual funds, suddenly inherited the financial earth? The Death of the Banker shows how American reformers mounted a spirited campaign to pry captive companies loose from their traditional bankers and restored competition to financial markets. In a world criss-crossed by capital flows, the banker will never again exercise such spectacular but arbitrary rule over clients.

Isaias Hellman, a Jewish immigrant, arrived in California in 1859 with little money in his pocket and his brother Herman by his side. By the time he died, he had effectively transformed Los Angeles into the modern metropolis we see today. In Frances Dinkelspeil's groundbreaking history, the early days of California are seen through the life of a man who started out as a simple store owner only to become California's premier money man of the late 19th and early 20th centuries. Growing up as a young immigrant, Hellman quickly learned the use to which capital could be put, founding Los Angeles's Farmers and Merchants Bank, that city's first successful bank, and transforming Wells Fargo into one of the West's biggest financial institutions. He invested money with Henry Huntington to build trolley lines, lent Edward Doheny the funds that led him to discover California's huge oil reserves, and assisted Harrison Gray Otis in acquiring full ownership of the Los Angeles Times. Hellman led the building of Los Angeles's first synagogue, the Wilshire Boulevard Temple, helped start the University of Southern California, and served as Regent of the University of California. His influence, however, was not limited to Los Angeles. He controlled the California wine industry for almost 20 years, and after San Francisco's devastating 1906 earthquake and fire, calmed the financial markets there in order to help that great city rise from the ashes. With all of these accomplishments, Isaias Hellman almost single-handedly brought California into modernity --