While the CIA is commonly understood to be an intelligence agency, we shouldn’t forget the important role it has played in carrying out clandestine operations that have benefited the financial elite.

This accusation is substantiated by the CIA’s elitist origins, its well-documented connections to Wall Street, and its sordid history of carrying out assassinations, staging coups, and fomenting civil wars.

The CIA and the financial elite have always had shared goals, interests, and backgrounds. Those in the upper echelons at Langley have often attended the same universities, belonged to the same fraternities, and attended the same clubs and parties as the Wall Street elite. This is why the intelligence community is often described as the “old boy network.”

This collusion is perhaps best illustrated by the career of Allen Welsh Dulles. Dulles was an operative of the Office of Strategic Services (OSS), the American WWII intelligence organization and forerunner of the CIA. He was also a senior partner of Sullivan & Cromwell, a well-connected Wall Street law firm representing several large American corporations, and a board member of J. Henry Schroeder Bank, a multinational investment house. Dulles’s international business concerns created myriad conflicts of interest while he headed the CIA from 1953 to 1961.

When Dulles was assigned the task of drafting the proposal for the organization that was to become the Central Intelligence Agency, he created an advisory group of a half dozen men, all of them Wall Street investment bankers and lawyers. Incidentally, Dulles had intended to be installed as Director of Central Intelligence (DCI) as early as 1949, but when President Harry Truman defeated New York Governor Thomas Dewey (Dulles was Dewey’s speech writer) in the 1948 presidential election, his plans were put on hold.

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