Eugene Meyer (financier)

Eugene Isaac Meyer (October 31, 1875 – July 17, 1959) was a prominent American banker, businessman, financier, and newspaper publisher.

Meyer was born in 1875 to a Jewish family in Los Angeles, California, descended from a long line of rabbis and civic leaders.

He married Agnes Elizabeth Ernst, a Lutheran, in 1910; they had five children, including the future Katharine Graham, and another daughter, Florence Meyer (Mrs. Oskar Homolka).

He took on an additional half-year post in 1932 as chief of the new Reconstruction Finance Corporation, which was Hoover's unsuccessful attempt to aid companies by providing loans to businesses.

One of his biggest critics at the time condemned Meyer along with J. P. Morgan, Andrew Mellon and Ogden Mills as being the Four Horsemen of the Apocalypse.

[6] More recent critics include Nobel laureate Milton Friedman and his fellow economist Anna Schwartz who, in their landmark book A Monetary History of the United States, put forth the argument that the Fed could have lessened the severity of the Depression, but failed to exercise its role of managing the monetary system and ameliorating banking panics.

While expressing the hope that Meyer would in fact take the Republican point of view, the editorial acknowledged that he probably would not do so, since he seemed to be "no slavish supporter of any party or leader," assuring that under his leadership the Washington Post would be "hard hitting and independent, a paper that nobody can ignore.

He was opposed to FDR's New Deal, and this was reflected in the Post's editorial stance as well as its news coverage, especially regarding the National Recovery Administration (NRA).

[20] Over the next twenty years, Meyer spent millions of dollars of his own money to keep the money-losing paper in business, while focusing on improving its quality; by the 1950s, it was finally consistently profitable and was increasingly recognized for good reporting and important editorials.

As publisher, Meyer occasionally contributed to stories: his friendship with the British Ambassador, Lord Lothian, led to a Washington Post scoop on reporting of Edward VIII's relationship with Wallis Simpson.