The Lehman Brothers

I had the privilege of seeing the Repertory Theatre of St. Louis’s production of The Lehman Trilogy this past weekend.  It told the story of the rise and fall of the firm, starting with the arrival of Henry Lehman in 1842 from Bavaria.  He was followed by his brothers Emanuel and Meyer several years later.  They set up shop, initially selling cloth and suits in Montgomery, Alabama.  They then concluded that buying cotton from plantations and selling it to northern weavers was a good business.  Throughout the story they face peaks and valleys, including a fire that wipes out plantations, the Civil War and other ordeals including Black Friday and the stock market crash.  The Family Firm’s resilience is a theme. The story continues all the way up to the demise of Lehman Brothers (which is no longer run by a family member) in 2008.

It's a great story and performed by three actors who play almost 70 different roles without changing costume.  It’s a must-see if you are in St. Louis.  Unfortunately, the Jewish Community Relations Council of St. Louis (to which I am a small donor) thought the play perpetuated Jewish stereotypes and ran an ad in the program, which the Rep graciously printed.

I didn’t think the play was at all antisemitic. Yes, it did deal with some stereotypes, but the stereotypes usually had some truth to them.  Jews have been involved in finance for many reasons, including our exclusion from other businesses by the Church and others.  Further, coming to America and starting a business is a classic American story.

Perhaps the objectors were offended when the Lehmans realized, and the actors verbalized, that the Lehmans had concluded that for most people, money is a method of selling and buying goods and services, but that it also could be a way of making more money.  In the play, the Lehmans describe themselves as “middlemen.”

Of course, using money to make more money is routine in the 21st Century, which is why many of us can stop working eventually, without being a charge on our descendants -- because the money we have earned and saved has earned more money. 

It’s called capitalism, for better or worse.