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J. P. Morgan: America's Greatest Banker (Titans of Fortune)

J. P. Morgan: America's Greatest Banker (Titans of Fortune) [Kindle Edition]

Daniel Alef

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Product Description

Product Description

Thomas Jefferson and Andrew Jackson were staunch opponents of a national bank. When President Jackson let the charter of the second bank lapse after 20 years, it left the nation unprepared and powerless to respond quickly or effectively to major economic declines or emergencies. J. Pierpont Morgan became America's central bank, initiating monetary policies that saved the nation from a severe depression on more than one occasion. During the Panic of 1907 Pierpont called a meeting of all the leaders of America's major trusts and banks, locked them in his library, and would not allow them to leave until they had struck an agreement that would avert a national economic collapse--a plan he orchestrated. Six years later the hero of 1907 had become a metaphor for all of America's economic ills. Congressional hearings concluded that too much power over the nation's economy resided in a single man. The backlash against America's greatest banker brought about the federal income tax, the Federal Reserve and the Clayton Anti-trust Act. Morgan was one of America's wealthiest men, yet he could have been considerably more wealthy, perhaps the wealthiest, if greed and money had been his principal goals. They were not. Upon Pierpont's death even Rockefeller expressed surprise at Pierpont's relatively modest estate of $100 million--Rockefeller was worth 10 times more--and said: "And to think he wasn't even a rich man." [5,399-word Titans of Fortune article including a timeline, further reading and video links]

Product details

  • Format: Kindle Edition
  • File Size: 226 KB
  • Simultaneous Device Usage: Unlimited
  • Publisher: Titans of Fortune Publishing (20 Mar 2009)
  • Sold by: Amazon Media EU S.à r.l.
  • Language: English
  • ASIN: B001YQG4YK
  • Text-to-Speech: Enabled
  • X-Ray:
  • Amazon Bestsellers Rank: #251,315 Paid in Kindle Store (See Top 100 Paid in Kindle Store)
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Most Helpful Customer Reviews on (beta) 4.0 out of 5 stars  5 reviews
1 of 1 people found the following review helpful
5.0 out of 5 stars very good read 11 July 2013
By Masonic Banker - Published on
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Within an hour you are able to get the life story in a nutshell. Well worth the price. Very happy with the purchase
1 of 1 people found the following review helpful
5.0 out of 5 stars Good Book 11 April 2013
By MMB-Tulsa - Published on
I used this book for a research paper and I would recommend it for any other student looking for information about J. P. Morgan.
2 of 3 people found the following review helpful
3.0 out of 5 stars J.P. Morgan: America's Greatest Banker; OK for use if you have to do a fifth grade report on Morgan 3 Dec 2012
By Bruce Rodman - Published on
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Somewhat thin; appropriate for a grade school student who was assigned to do a report. Looks like part of a series.
4.0 out of 5 stars A brief overview of J. P. Morgan's life 6 Nov 2013
By Marc Grenier - Published on
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The author gives a general overview of the life of J. P. Morgan, but I would have enjoyed it more had he gone into more detail of Morgan's life
3.0 out of 5 stars JP Morgan still needed 14 Mar 2013
By Peter Campbell - Published on
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Imagine a banker who can prevent a recession? that's what JP did. Hard to imagine now. Wish there was more to read.
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