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Morgan was among the first generation of bankers whose clients were primarily private corporations instead of governments, but there were substantial continuities in approach. His mediations among the railroad barons were very much in the tradition of the supranational financial/diplomatic service operated by the Rothschilds and the Barings in
... See moreCharles R. Morris • The Tycoons: How Andrew Carnegie, John D. Rockefeller, Jay Gould, and J. P. Morgan Invented the American Supereconomy
With no way to cover their shorts, firms up and down Wall Street faced bankruptcy, as did the banks who had been financing their positions; Harriman had no choice but to back off the fight, so Morgan and Schiff could unwind their positions and forestall a crash.
Charles R. Morris • The Tycoons: How Andrew Carnegie, John D. Rockefeller, Jay Gould, and J. P. Morgan Invented the American Supereconomy
Joe Hudson
soundcloud.comWhen Clark died after a short illness in the spring of 1873, his brokers liquidated his UP holdings, causing a sharp price drop. Gould’s broker snapped it up, and Gould unexpectedly found himself in a control position. It was only at that point, he said, that he learned that the road had serious problems, including $5 million in unsecured call debt
... See moreCharles R. Morris • The Tycoons: How Andrew Carnegie, John D. Rockefeller, Jay Gould, and J. P. Morgan Invented the American Supereconomy
Berkshire Hathaway Inc. Annual Report 2024
than be slaves to market forces (Du Bois 1933b).
Jessica Gordon Nembhard • Collective Courage: A History of African American Cooperative Economic Thought and Practice
Theodor Ganzwohl
@t.farnsworth
Joe Maracic
@loudegg