Wall Street and Military Intervention: Citigroup’s Imperial History in Haiti
Citigroup Inc.’s online timeline commemorating
its 200th anniversary says little about the Republic of Haiti — and no
wonder. While the anniversary campaign for the global financial services
giant presents a story of achievement, progress,
and world-uniting vision, Citigroup’s first encounter with Haiti is
remembered as both among the most spectacular episodes of U.S. dollar
diplomacy in the Caribbean and as an egregious example of Washington
working at the behest of Wall Street. It is also marked by military
intervention, violations of national sovereignty, and the deaths of
thousands.
In the early 20th century, the National City Bank of New York, as
Citigroup was then called, embarked on an ambitious and pioneering era
of overseas expansion. Haiti emerged as one of National City’s first international projects. In 1909, Speyer and Co. invited National City President Frank A. Vanderlip to join in the purchase of a moribund American-controlled railway concession in Haiti.
