
Nobody will refute any negatives found here – it’s from the John F. Kennedy Presidential Library and Museum!
“Kennedy’s lengthy foray into Hollywood had brought him a large and significantly liquid fortune that allowed him to continue his investments in real estate, notably his personal homes in Hyannis Port and Palm Beach, as well as a share in the Hialeah race track in Miami, even as he was scaling back his activities in Hollywood and the stock market. But at the beginning of the 1930s, the real focus of Kennedy’s energies became politics. As a successful businessman, Kennedy’s expected allegiance would have been to Hoover and the Republicans in the 1932 election, but the breadth and depth of the Depression had shaken Kennedy’s faith in Republican solutions. Believing that a change to the system was necessary to preserve the system, and willing to accept the toll on his own personal wealth that might be involved, Kennedy threw his personal and financial support behind Franklin D. Roosevelt’s presidential campaign. He rode on Roosevelt’s campaign train and by some accounts his intercession brought about the support of powerful newspaper magnate William Randolph Hearst.
In 1933, with the election won and Roosevelt inaugurated, Kennedy took a trip to Europe with James Roosevelt, the new President’s son. The end of Prohibition had been implicit in Roosevelt’s election, and Kennedy saw in it a new business possibility. While in England he obtained rights to become the U.S. agent for Haig & Haig Ltd., John Dewar and Sons, Ltd. and Gordon’s Dry Gin Company Ltd. When Prohibition officially ended, with the ratification of the 21st amendment, Kennedy and his company, Somerset Importers, were poised to take advantage of the country’s rehabilitated thirst with an enormous stockpile of liquor imports. But Kennedy was not satisfied with business success; his work on the campaign had whetted his political ambitions and it was a source of disappointment that Roosevelt had not yet found a place for him in his administration. That changed in July 1934, when Roosevelt appointed Kennedy chair of the newly created Securities and Exchange Commission (SEC). Despite widespread qualms about the appointment of an ex-speculator to an influential regulatory position, Kennedy’s tenure proved to be just the start necessary for the new agency. Kennedy knew the business community and understood the business practices he was charged with policing. Though he had been appointed for a five-year term, Kennedy resigned from the SEC in September 1935, believing that he had accomplished what he needed to do.”
Prohibition
Some interesting facts regarding Prohibition and its repeal. (More to come re. The Chicago Connection…)
This Amendment was repealed by the Twenty-first Amendment, and
titles I and II of the National Prohibition Act\1\ were subsequently
specifically repealed by the act of August 27, 1935



Recent Comments