Raskob’s Big Business Gambit: Presidential Politics Meets Wall Street

New York, July 19, 1928 – The big wheels of business are taking a spin in the world of politics. John J. Raskob, the mastermind behind making millions for General Motors executives, is now set to make a President out of Governor Alfred E. Smith. The Democratic national committee chairman has moved his campaign headquarters into the iconic General Motors building at 57th and Broadway, where he’ll operate his new business with familiar surroundings. Raskob admits he knows little about politics, but he’s confident his big business tactics will prove successful. A corps of carpenters has begun to transform the eighth floor, clearing partitions to make room for the machinery of the campaign. It’s a move that has raised eyebrows, with some wondering if Raskob’s Wall Street know-how will be enough to propel Smith to the White House. Raskob’s campaign is shaping up to be a game-changer, with the big business executive aiming to bring his brand of efficiency and ruthlessness to the world of politics. But can he really make it work? Only time will tell.