Talk:Medici Bank/Archive 1

Archive 1

Exchange

Wasn't the idea that, generally speaking, the exchange rate for the bankers would almost always be favorable? Florins to Pounds in Florence always beat Florins to Pounds in London? —Preceding unsigned comment added by JoshNarins (talk • contribs) 17:45, 30 December 2007 (UTC)

Unclear

The phrase "unwisely loaning to a secular ruler" seems to assume too much background knowedge. Surely some hint or link to further info is appropriate here. Was it unwise specifically because the ruler was secular, or is secular just an incidental adjective here? —Preceding unsigned comment added by 203.42.97.50 (talk) 07:33, 2 April 2008 (UTC)

The former. I specified 'secular' because loaning to ecclesiastical/non-secular rulers was actually a good long-term bet and one of the foundations of Medici success. Say what you will about the Catholic Church, but as an entity, it was pretty good about its debts. --Gwern (contribs) 17:33 2 April 2008 (GMT)

awfully written article...

My biggest problem with this article is that it fails to mention the 1410 appointment of the Medici as the bankers for the Papacy. This is truly a catalyst for the success of the bank as over the course of Giovanni's life and through much of Cosimo's, the Rome branch will account for over 50% of the Medici bank's profits.

Also, the heavy reliance on De Roover's work, to me at least, detracts from the credibility of the article. However, I can't really talk because I didn't spend the time writing this article. Bennett 16:41 May 14, 2013 [EST] —Preceding undated comment added 20:42, 14 May 2013 (UTC)

not well written...should include the family may have probably been herbalist/owned apothecaries/ been doctors, hence the name Medici.

The main article on the Medici family does mention the meaning of the name; but nevertheless, the earliest records of the Medici have them as wool traders. --Gwern (contribs) 15:38 18 August 2007 (GMT)

When was this bank finally closed? "Cesati, Franco (1999). Medici. Firenze: La Mandragora. ISBN 88-85957-36-6." says on page 114 that the bank was finally closed by Cosimo II. This is at odds with what is written in the article. Giano 16:16, 18 August 2007 (UTC)

I don't know what that is about. Possibly the legal claim to the company was only given up by him much later? Legal issues can long outlast the reality; the date when all the branches closed, employees fired, vaults emptied, records seized etc. seem to be a good date for its closing, and that date seems to be 1494. --Gwern (contribs) 17:07 18 August 2007 (GMT)

• The book actually says the bank still had a few brances throughout Europe, when Cosimo II decided to close it. Cosimo II reigned from 1609 to 1621 which is long after the date I had thougt it closed. The chapter is dealing with declining Medici fortunes and raised Tuscan taxes. If the book were not by Cesati, who is an acknowledged and very much published authority on the Medici, I would be inclined to dismiss it as rubbish. Giano 17:18, 18 August 2007 (UTC)

This article here [1] says by 1494 it had closed "most" of its branches - most being not all, perhaps a few lingered on for another 120 years? Giano 17:21, 18 August 2007 (UTC)

• This site seems to confirm it [2]. Giano 17:23, 18 August 2007 (UTC)

GA/FA?

Nice work guys - I'd have thought this is a comfortable WP:GA and you might want to consider gunning for a Featured Article. Always nice to come across a really good article on a slightly obscure topic. :-)) FlagSteward (talk) 15:10, 13 June 2008 (UTC)

Thanks for the kind words; it was a ton of work. --Gwern (contribs) 01:40 5 May 2010 (GMT)

Austrian Bank Medici?

A current news item indicates that the Bank Medici is being taken over by the Austrian Government: "The Austrian government is preparing to take management control of Vienna-based Bank Medici after the bank revealed clients had lost money in funds it ran which invested with disgraced New York financier Bernard Madoff" --- Financial Times (December 30, 2008)

Is this related to the Medici Bank discussed in this article? I don't know. But it should probably be discussed especially inasmuch as the entry indicates that the Medici Bank is defunct. Even if it is not related, a reference should be made distinguishing the two institutions.

I recognize that one might very well say, "So write it", however, this is not my expertise, and the author(s) of the entry, or others, would best be able to render the topic coherent. LAWinans (talk) 01:13, 31 December 2008 (UTC)

Confusion of names and dates

The entire section under the heading Decay will have to be re-written. There is serious confusion of the several Lorenzos and Pieros. Piero I's (il Giottoso) brother Giovanni was not murdered during the Pazzi Conspiracy, that was Lorenzo (il Magnifico) di Piero's brother Giuliano. Cosimo the elder's brother Lorenzo the elder died in 1440, predeceasing Cosimo by 24 years, and was therefore not in a position to take over the fortunes of Piero I's finances. It was in fact Lorenzo (il Magnifico) di Piero, who took over (and later raided) the fortunes of Pierfrancesco's (Lorenzo the elder's son) two sons Lorenzo Popolano and Giovanni Popolano, after Piero I died in 1469. —Preceding unsigned comment added by Blauvogel (talk • contribs) 21:53, 8 March 2010 (UTC)