The Medici's were bankers and financiers in Florence during the Renaissance. Bankers were important to city-states as they often under-wrote the foreign policy of the state, including wars of expansion. The Medici's tried to stay out of state affairs for the most part, seeking to remain under-hindered in their pursuit of economic wealth.

In 1433 a rival economic family, the Albizzi, used politics and the power (paranoia) of the state to try and bring down the Medici's economic empire. Cosimo De Medici was arrested as part of this, and despite a jury of two hundred given absolute power for a limited length of time, in addition to the Albizzi's trying to over-throw the government, Cosimo was let free.

That ended the Medici's staying out of Florentine politics. Cosimo killed and purged the city of two hundred prominent citizens who supported the Albizzi. Like Caesar Augustus, Cosimo spent a short period governing but then adjusted the established offices to his purposes such that it followed his policies. In much the same way the Augustus used the tribunation power to ensure his will was followed. Ralph Roeder writes:

[I]t was in the art of politics that Cosimo shone. Studiously effacing himself and remaining in the background of government, he was recognized, nevertheless, both at home and abroad as the real Head of State - Capo della Republica - by virtue of financial sovereignty and adroit brain-work without the support of armed force.

The De Medici name was to last two more generations in Florence, with Lorenzo, and then Piero, whose reign lasted two years before the Medici's were driven from Florence.