Did you not read what it said? He said the idea that Bush got $1.5 mil after the war was "ridiculous."
The quote doesn't dispute the UBC share were returned, only that he doubted any German assets would have value.
"supposedly he got $1.5 million when UBC was liquidated in 1951. I'll buy the claim that Bush got his share of UBC back — it was an American bank, after all — but the idea that his German holdings increased in value despite being obliterated by Allied bombs is ridiculous."
Homer Jones, the chief of the APC investigation and research division recommended that UBC assets be liquidated for the benefit of the government.
UBC was a US private overseas investment bank, set up by Thyssen, a German national to protect his assets. UBC held liquid assets such as gold and US Treasury bonds. Don't think these assets were bombed especially those held in the US.
UBC was maintained intact and eventually returned to the American shareholders after the war, "despite the fact UBC was caught red-handed operating a American shell company for the Thyssen family eight months after America had entered the war and that this was the bank that had partly financed Hitler's rise to power."
A former US attorney who prosecuted Nazi war criminals in the 70s claims P. Bush got $1.5 million for his UBC interest.
There is a reasonable argument that P. Bush interest should have been forfeited, but it wasn't, so I find it plausible that P. Bush received the $1.5 million, especially since assets were returned only to American shareholders.
Is it ridiculous that P. Bush received a $1.5 million payment for his interest in UBC, a private US overseas investment bank setup by a German national to place his assets in locations outside of Germany?
