Top critical review
A decent read
on 4 October 2015
Ummm... I'm not 100% sure about this book. It's the fourth Chernow book I've read (after Titan, which is about the Rockefellers, Alexander Hamilton, and George Washington), and this was probably the worst of the four books of his I've read.
This book, as the title suggests, looks at the House of Morgan banking group, and the company's daughter companies (Morgan Guaranty, Morgan Stanley, and Morgan Grenfell) as they evolve through the three stages of banking (going from where the bankers have all the power, to where even the most staid bankers are having to hustle for business).
It wasn't a bad read. It explains what happened to the bank, and the American banking system from before the start of the bank, to 1987 (when the book was written). And therein lies the problem. Given what happened to the banking system since 2007, it might be worthwhile updating the book to address the similarities between what happened in 1987, and 2007, but that didn't happen.
My other grumble is that Chernow felt proud that he wrote the book quickly. While you probably wouldn't have noticed, had he not mentioned it, when this is tied in to the fact that the book could have been updated to address recent events, and I'm left wondering what could have happened had it been updated.