The True Story Of The Time JP Morgan Saved America

Discussion in 'Wall St. News' started by OnClose, Jan 13, 2013.

  1. OnClose

    OnClose

  2. always find reads on Morgan interesting..
     
  3. I was watching a documentary about that. People don't realize how heavy J.P. Morgan was during his time.
     
  4. Yea. First big play was in coffee.. great speculator
     
  5. Humpy

    Humpy

    Are JP Morgan still paying Tony Blair a million bucks a year ?
    For HIS advice ?
    Some say it was a posh outlet for CIA slush fund, for Blair to drag UK into yet another US war/disaster.

    And BTW he has started a dealing desk in Mayfair London. Private for his own use though as yet.

    Those 19th century robber barons make Buffett, Gates etc look like babes in arms.
     
  6. southall

    southall

    We have all read REMINISCENCES OF A STOCK OPERATOR:

    We're loaned up to the hilt," the banks protested.
    "You've got your reserves," snapped J. P.
    "But we're already below the legal limit," they howled
    "Use them! That's what reserves are for!" And the banks
    obeyed and invaded the reserves to the extent of about twenty
    million dollars. It saved the stock market. The bank panic
    didn't come until the following week. He was a man, J. P. Morgan
    was. They don't come much bigger.
     
  7. In that book he says something like: I was JP Morgan, if only for a day..

    JP Morgan asks him to stop short selling for the good of the market and he obliges.
     
  8. Humpy

    Humpy

    Just imagine if you will little Benny asking the market to stop shorting

    :p
     
  9. EXACTLY. See recent posts in the "What about copper ?" thread in Metal Futures.
    Benny actively thwarting the commodity shorts.
     
  10. Unlike Capitalism, Globalization is Zero-sum.
     
    #10     Jan 27, 2013