J P Morgan Quotes

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The first step towards getting somewhere is to decide that you are not going to stay where you are.
J.P. Morgan
Millionaires don't use Astrology, billionaires do.
J.P. Morgan
A man always has two reasons for what he does--a good one, and the real one.
J.P. Morgan
Well, I don't know as I want a lawyer to tell me what I cannot do. I hire him to tell how to do what I want to do.
J.P. Morgan
Go as far as you can see; when you get there, you’ll be able to see farther.
J.P. Morgan
A man has two reasons for doing something; a good reason and the real reason.
J.P. Morgan
Do you honestly think Lenin is any different from J.P. Morgan? That you, if you were given absolute power, would behave any differently? Do you know the primary difference between men and gods?...Gods don't think they can become men.
Dennis Lehane (The Given Day (Coughlin #1))
Perhaps J. P. Morgan did as a child have very severe feelings of inadequacy, perhaps his father did believe that he would not amount to anything; perhaps this did effect in him an inordinate drive for power for power’s sake. But all this would be quite irrelevant had he been living in a peasant village in India in 1890. If we would understand the very rich we must first understand the economic and political structure of the nation in which they become the very rich.
C. Wright Mills (The Power Elite)
Any board-room sitter with a taste for Wall Street lore has heard of the retort that J. P. Morgan the Elder is supposed to have made to a naïve acquaintance who had ventured to ask the great man what the market was going to do. “It will fluctuate,” replied Morgan dryly.
John Brooks (Business Adventures: Twelve Classic Tales from the World of Wall Street)
psilocybin was introduced to the West by a vice president of J. P. Morgan
Michael Pollan (How to Change Your Mind: What the New Science of Psychedelics Teaches Us About Consciousness, Dying, Addiction, Depression, and Transcendence)
Why must everybody like you? Who liked J. P. Morgan? Was he impressive? In a Turkish bath he’d look like a butcher. But with his pockets on he was very well liked.
Arthur Miller (Death of a Salesman: Certain Private Conversations in Two Acts and a Requiem)
The first step towards getting somewhere is to decide you’re not going to stay where you are. —John Pierpont “J.P.” Morgan
Michael Hyatt (Living Forward: A Proven Plan to Stop Drifting and Get the Life You Want)
I milionari non vanno dagli astrologi, ma i miliardari sì.
J.P. Morgan
He was defiantly narrow-minded, barely educated, and at least close to functionally illiterate. His beliefs were powerful but consistently dubious, and made him seem, in the words of The New Yorker, “mildly unbalanced.” He did not like bankers, doctors, liquor, tobacco, idleness of any sort, pasteurized milk, Wall Street, overweight people, war, books or reading, J. P. Morgan and Co., capital punishment, tall buildings, college graduates, Roman Catholics, or Jews. Especially he didn’t like Jews. Once he hired a Hebraic scholar to translate the Talmud in a manner designed to make Jewish people appear shifty and avaricious.
Bill Bryson (One Summer: America, 1927)
A man sits in an office deciding what stocks to buy. He imagines, no doubt, that he is planning his purchases according to his own judgment. In actual fact his judgment is a melange of impressions stamped on his mind by outside influences which unconsciously control his thought. He buys a certain railroad stock because it was in the headlines yesterday and hence is the one which comes most prominently to his mind; because he has a pleasant recollection of a good dinner on one of its fast trains; because it has a liberal labor policy, a reputation for honesty; because he has been told that J. P. Morgan owns some of its shares.
Edward L. Bernays (Propaganda)
After that, the men in the room rushed for the exits, apparently to sell their shares in Bear Stearns. By the time Alan Greenspan arrived to speak, there was hardly anyone who cared to hear what he had to say. The audience was gone. By Monday, Bear Stearns was of course gone, too, sold to J.P. Morgan for $2 a share.*
Michael Lewis (The Big Short: Inside the Doomsday Machine)
A civil servant can make rules that are friendly to an industry such as banking—and then go off to J.P. Morgan and recoup a multiple of the difference between his or her current salary and the market rate. (Regulators, you may recall, have an incentive to make rules as complex as possible so their expertise can later be hired at a higher price.)
Nassim Nicholas Taleb (Skin in the Game: Hidden Asymmetries in Daily Life)
Когда чистильщик обуви начинает интересоваться акциями, надо срочно уходить с рынка
J.P. Morgan
J. P. Morgan tells the story of how he would get his shoes shined every Wednesday at the same shop around the corner from his office. One day the shoe shine attendant asked him if he and his friends could buy some stock through Morgan’s brokerage. The three friends had about $40—a lot of money in 1929. Morgan politely refused, hurried back to his office, and ordered that his company was not to have a single share of stock on its books by the end of the day. Morgan simply asked, “If the shoe shine boys are buying stocks, who else is left?” Of course, the 1929 stock market crash was only a few days away, and Morgan looked like a genius. He was not a genius; he noted that the order flow was likely running out on the buy side. It wasn’t his army of analysts that showed him that. It was a public investor.
Anonymous
A steady flow of loans from the leading banks on Wall Street, led by J.P. Morgan, had enabled the British, French, and Russians to purchase what they needed to sustain the war effort as their gold reserves dwindled from larger and larger war purchases.
Arthur Herman (1917: Lenin, Wilson, and the Birth of the New World Disorder)
Eva and Anne Morgan, one a niece and the other a daughter of J. P. Morgan, the most powerful financier in U.S. history, used their family’s money to finance women workers who were protesting before and after the Triangle Shirtwaist fire, even putting up a Fifth Avenue mansion as security for bail when those protesters were arrested. The
Gloria Steinem (My Life on the Road)
In many of these subsidy programs, no jobs are created. Instead the state income taxes are given to companies that agree to move jobs from one state across the border to another, as AMC Theatres agreed to do in moving its headquarters from Kansas City, Missouri, to Leawood, Kansas, just ten miles away. AMC will get to pocket $47 million withheld from its workers, a boon to its major owners: J. P. Morgan, Apollo Management, the Carlyle Group and the firm Mitt Romney cofounded in 1984, Bain Capital Management.
David Cay Johnston (The Fine Print: How Big Companies Use "Plain English" to Rob You Blind)
munitions exports, which stood at just $40 million in 1914, boomed to nearly $1.3 billion in 1916, while the total value for exported manufactured goods rose from $2.4 billion (or 6 percent of the gross national product) in 1914 to $5.5 billion (or 12 percent of GNP) in 1916, almost exclusively because of increased trade with the Allies. While J. P. Morgan, which brokered most of the transactions, led a long list of American firms that reaped enormous profits from this trade, millions of ordinary Americans, from workers to farmers, benefited as well.
Lawrence Sondhaus (The Great War at Sea: A Naval History of the First World War)
And so, as the passengers drifted off to sleep to the rhythmic clicking of steel wheels against rail, little did they dream that, riding in the car at the end of their train, were six men who represented an estimated one-fourth of the total wealth of the entire world. This was the roster of the Aldrich car that night: Nelson W. Aldrich, Republican "whip" in the Senate, Chairman of the National Monetary Commission, business associate of J.P. Morgan, father-in-law to John D. Rockefeller, Jr.; Abraham Piatt Andrew, Assistant Secretary of the U.S. Treasury; Frank A. Vanderlip, president of the National City Bank of New York, the most powerful of the banks at that time, representing William Rockefeller and the international investment banking house of Kuhn, Loeb & Company; Henry P. Davison, senior partner of the J.P. Morgan Company; Benjamin Strong, head of J.P. Morgan's Bankers Trust Company;1 6. Paul M. Warburg, a partner in Kuhn, Loeb & Company, a representative of the Rothschild banking dynasty in England and France, and brother to Max Warburg who was head of the Warburg banking consortium in Germany and the Netherlands.2
G. Edward Griffin (The Creature from Jekyll Island: A Second Look at the Federal Reserve)
If Churchill had looked harder, he would have seen that England’s ‘highest position’ was very tenuous. Apart from her dead sons, the balance of events had swung heavily against her. Not least, his country was hugely in debt. By 1917, the British were paying most of the cost of the war not only for themselves but for their allies: half of Belgian and Serbian, two-thirds of French and Russian, and all of Italian war expenditure was funded by London. In return, London depended more and more on the money loaned by Washington and Wall Street, in particular the great bank of J.P. Morgan, and victory found the British in the excruciating position of having to repay the immense debts they owed, with little hope of recovering the debts owed them, or in the Russian case no hope at all.
Geoffrey Wheatcroft (Churchill's Shadow: The Life and Afterlife of Winston Churchill)
You might think that as people get older, they spend money more freely out of the sheer desire to make the most of it before it’s truly too late. But the opposite tends to happen. In general, spending among American households declines as people age. For example, the Consumer Expenditure Survey, conducted by the Bureau of Labor Statistics, found that in 2017, average annual spending for households headed by 55-to-64-year-olds was $65,000; average spending fell to $55,000 for those between 65 and 74; and spending fell again to $42,000 for those 75 and older. This overall decline occurred despite a rise in healthcare expenses, because most other expenses, such as clothing and entertainment, were much lower. The decline in spending over time was even more acute for retirees with more than $1 million in assets, according to separate research conducted by J.P. Morgan Asset Management, which analyzed data from more than half a million of its customers.
Bill Perkins (Die with Zero: Getting All You Can from Your Money and Your Life)
To the untrained eye, the Wall Street people who rode from the Connecticut suburbs to Grand Central were an undifferentiated mass, but within that mass Danny noted many small and important distinctions. If they were on their BlackBerrys, they were probably hedge fund guys, checking their profits and losses in the Asian markets. If they slept on the train they were probably sell-side people—brokers, who had no skin in the game. Anyone carrying a briefcase or a bag was probably not employed on the sell side, as the only reason you’d carry a bag was to haul around brokerage research, and the brokers didn’t read their own reports—at least not in their spare time. Anyone carrying a copy of the New York Times was probably a lawyer or a back-office person or someone who worked in the financial markets without actually being in the markets. Their clothes told you a lot, too. The guys who ran money dressed as if they were going to a Yankees game. Their financial performance was supposed to be all that mattered about them, and so it caused suspicion if they dressed too well. If you saw a buy-side guy in a suit, it usually meant that he was in trouble, or scheduled to meet with someone who had given him money, or both. Beyond that, it was hard to tell much about a buy-side person from what he was wearing. The sell side, on the other hand, might as well have been wearing their business cards: The guy in the blazer and khakis was a broker at a second-tier firm; the guy in the three-thousand-dollar suit and the hair just so was an investment banker at J.P. Morgan or someplace like that. Danny could guess where people worked by where they sat on the train. The Goldman Sachs, Deutsche Bank, and Merrill Lynch people, who were headed downtown, edged to the front—though when Danny thought about it, few Goldman people actually rode the train anymore. They all had private cars. Hedge fund guys such as himself worked uptown and so exited Grand Central to the north, where taxis appeared haphazardly and out of nowhere to meet them, like farm trout rising to corn kernels. The Lehman and Bear Stearns people used to head for the same exit as he did, but they were done. One reason why, on September 18, 2008, there weren’t nearly as many people on the northeast corner of Forty-seventh Street and Madison Avenue at 6:40 in the morning as there had been on September 18, 2007.
Michael Lewis (The Big Short)
Modern electrical power distribution technology is largely the fruit of the labors of two men—Thomas Edison and Nikola Tesla. Compared with Edison, Tesla is relatively unknown, yet he invented the alternating electric current generation and distribution system that supplanted Edison's direct current technology and that is the system currently in use today. Tesla also had a vision of delivering electricity to the world that was revolutionary and unique. If his research had come to fruition, the technological landscape would be entirely different than it is today. Power lines and the insulated towers that carry them over thousands of country and city miles would not distract our view. Tesla believed that by using the electrical potential of the Earth, it would be possible to transmit electricity through the Earth and the atmosphere without using wires. With suitable receiving devices, the electricity could be used in remote parts of the planet. Along with the transmission of electricity, Tesla proposed a system of global communication, following an inspired realization that, to electricity, the Earth was nothing more than a small, round metal ball. [...] With $150,000 in financial support from J. Pierpont Morgan and other backers, Tesla built a radio transmission tower at Wardenclyffe, Long Island, that promised—along with other less widely popular benefits—to provide communication to people in the far corners of the world who needed no more than a handheld receiver to utilize it. In 1900, Italian scientist Guglielmo Marconi successfully transmitted the letter "S" from Cornwall, England, to Newfoundland and precluded Tesla's dream of commercial success for transatlantic communication. Because Marconi's equipment was less costly than Tesla's Wardenclyffe tower facility, J. P. Morgan withdrew his support. Moreover, Morgan was not impressed with Tesla's pleas for continuing the research on the wireless transmission of electrical power. Perhaps he and other investors withdrew their support because they were already reaping financial returns from those power systems both in place and under development. After all, it would not have been possible to put a meter on Tesla's technology—so any investor could not charge for the electricity!
Christopher Dunn (The Giza Power Plant: Technologies of Ancient Egypt)
MARKET—the daytime adventure serial of the well-to-do—would not be the stock market if it did not have its ups and downs. Any board-room sitter with a taste for Wall Street lore has heard of the retort that J. P. Morgan the Elder is supposed to have made to a naïve acquaintance who had ventured
Anonymous
J. P. Morgan once said, “If you want something too much, you will not succeed in getting it.
Douglas Preston (Ice Limit: La Barriere de Glace)
Back in 1933, during the height of the populist backlash against Wall Street, the son of J. Pierpont Morgan—J. P. “Jack” Morgan, Jr.—had been grilled by Congress about his ethos. He declared that the aim of his bank was to conduct “first-class business…in a first-class way.” Fifty years later, that mantra of Jack Morgan struck much of the banking world as quaint. Years of bold innovation had made high-risk trading and aggressive deal making the gold standard of the street, and a “kill or be killed” ethic prevailed. At
Gillian Tett (Fool's Gold)
Senator LaFollette publicly charged that a money trust of fifty men controlled the United States. George F. Baker, partner of J.P. Morgan, on being queried by reporters as to the truth of the charge, replied that it was absolutely in error. He said that he knew from personal knowledge that not more than eight men ran this country.
Eustace Clarence Mullins (The Secrets Of The Federal Reserve)
The first step towards getting somewhere is to decide you’re not going to stay where you are. —John Pierpont “J.P.” Morgan It
Michael Hyatt (Living Forward: A Proven Plan to Stop Drifting and Get the Life You Want)
Investors should avoid any urge to forecast the stock market. Forecasts, even forecasts by recognized “experts,” are unlikely to be better than random guesses. “It will fluctuate,” declared J. P. Morgan when asked about his expectation for the stock market. He was right. All other market forecasts—usually estimating the overall direction of the stock market—are historically about 50 percent right and 50 percent wrong. You wouldn’t bet much money on a coin toss, so don’t even think of acting on stock market forecasts.
Burton G. Malkiel (The Elements of Investing: Easy Lessons for Every Investor)
James Pierpont, one of the founders of Yale University.
Susie J. Pak (Gentlemen Bankers: The World of J. P. Morgan (Harvard studies in business history ; Book 51))
The James Hills and J.P. Morgans are an affront to a society dedicated to the worship of mediocrity.
Alan Greenspan
Morgan began to speak. He demanded52 to know why Roosevelt hadn’t warned him. “This is just what we did not want to do,” said Roosevelt. “If we have done anything wrong,” Morgan replied, “send your man to my man and they can fix it up.” “That can’t be done.” “We don’t want to fix it up,” Knox interjected. “We want to stop it.” “Are you going to attack my other interests, the Steel Trust and the others?
Susan Berfield (The Hour of Fate: Theodore Roosevelt, J.P. Morgan, and the Battle to Transform American Capitalism)
Questionable investment deals certainly contributed to a number of municipal financial crises that occurred after the 2008 stock market crash. Jefferson County, Alabama, for example, entered into interest rate swaps that helped swell its debt burden to $3 billion when interest rates collapsed. The county sued the lead underwriter, J.P. Morgan, on the grounds that it misled the county and investors. The Securities and Exchange Commission also imposed significant penalties on the underwriter in 2009. Detroit similarly entered swaps that the bankruptcy court ultimately settled for much less than their face value after the bankruptcy judge raised significant questions about the swaps' legality and enforceability.
Richard Schragger
This line of defense is still at the core of today’s tax-dodging industry. But it was wrong when J. P. Morgan advanced it and it is wrong now. Why? Because the law of the United States—like that of most other countries—contains a set of provisions, known as the economic substance doctrine, that make illegal any transaction that has no other purpose than a reduction of tax liability.
Emmanuel Saez (The Triumph of Injustice: How the Rich Dodge Taxes and How to Make Them Pay)
How big and important are proprietary trading and principal investing activities at Goldman? Glenn Schorr, a Nomura Securities equity research analyst covering Goldman stock, estimated that the Volcker Rule, which is intended to restrict proprietary trading and principal investing at investment banks, would impact 48 percent of Goldman’s total consolidated revenue. To put this into context, he estimated the impact at 27 percent, 9 percent, and 8 percent of total consolidated revenues of Morgan Stanley, Bank of America, and J.P. Morgan, respectively.
Steven G. Mandis (What Happened to Goldman Sachs: An Insider's Story of Organizational Drift and Its Unintended Consequences)
In 2009 Lloyd Blankfein, CEO of Goldman Sachs, claimed that ‘The people of Goldman Sachs are among the most productive in the world.’3 Yet, just the year before, Goldman had been a major contributor to the worst financial and economic crisis since the 1930s. US taxpayers had to stump up $125 billion to bail it out. In light of the terrible performance of the investment bank just a year before, such a bullish statement by the CEO was extraordinary. The bank laid off 3,000 employees between November 2007 and December 2009, and profits plunged.4 The bank and some its competitors were fined, although the amounts were small relative to later profits: fines of $550 million for Goldman and $297 million for J. P. Morgan, for example.5 Despite everything, Goldman–along with other banks and hedge funds–proceeded to bet against the very instruments which they had created and which had led to such turmoil.
Mariana Mazzucato (The Value of Everything: Making and Taking in the Global Economy)
At the beginning of the 1910s, the American banker J. P. Morgan estimated that the capitalist system could not function if the difference between the salaries of the directors and the workers went beyond a factor of 30 or 40. It is presently above 1,000! The 20 percent best-off Americans contribute half of consumer spending. The remaining 80 percent are quickly becoming impoverished, falling into spiraling debt that has entirely removed them from the cycle of investment and savings
Piero San Giorgio (Survive -- The Economic Collapse)
GE melded Thomas Edison’s workbench with J. P. Morgan’s financial might to create a juggernaut that, in powering the nation’s middle class, its military might, and its explosion of financial wealth, marched in step with the rise of modern America.
Thomas Gryta (Lights Out: Pride, Delusion, and the Fall of General Electric)
than any
Charles R. Morris (The Tycoons: How Andrew Carnegie, John D. Rockefeller, Jay Gould, and J. P. Morgan Invented the American Supereconomy)
The word aristocrat itself was becoming almost a curse throughout the North, and travelers’ reports of the South’s pestilence-ridden, barefooted backwardness were staples of the northern press. It was implicitly understood, as one historian put it, that “two profoundly different and antagonistic civilizations . . . were competing for control of the political system.
Charles R. Morris (The Tycoons: How Andrew Carnegie, John D. Rockefeller, Jay Gould, and J. P. Morgan Invented the American Supereconomy)
But “Dennis” was also seven years older than himself, which made him almost forty in spirit. That is why, no doubt, he was already a vice president at J.P. Morgan & Sons & Co.
Amor Towles (The Lincoln Highway)
Rockefellers and other Wall Street capitalists such as Jacob Schiff, Elihu Root, J. P. Morgan, and the Harriman family
Jim Marrs (The Trillion-Dollar Conspiracy)
The CDOs that sliced up and then spliced together disparate debts belonging to a heterogeneous multitude of families and businesses were put together on the basis of certain formulae, whose purpose was, supposedly, to calculate their value and their riskiness. These formulae were developed by financial engineers working for Wall Street (e.g. for J. P. Morgan, Bank of America, Goldman Sachs, etc.). To render the formulae solvable, certain assumptions had to be made. First and foremost was the assumption that the probability that one slice of debt within a CDO would go bad was largely unrelated to the probability of a similar default by the other slices in the same CDO. That is, it was assumed that what happened in 2007–08 was…impossible! That it was unnecessary to factor in the possibility of some crisis, during which Bob lost his house for reasons that increased the chances that Jane would lose her job and eventually also default on her mortgage.
Yanis Varoufakis (The Global Minotaur: America, the True Origins of the Financial Crisis and the Future of the World Economy)
I don’t think you can be careful enough, Belle. You’re working for J. P. Morgan. Some people say he’s one of the smartest men in the country. I don’t know about that, but I know he’s one of the most ruthless. What would happen if he finds out that you’re colored?
Marie Benedict (The Personal Librarian)
In 1900, George and Clara Morris and their four children, Samuel, Selma, Marcella, and Malvina, left Bucharest, Romania, and boarded a ship for New York City. When they arrived in the United States, they stayed in New York City for a few weeks and then decided to move to Los Angeles, where George wanted to become a director in the movie business. Along the way, in St. Louis, Clara had another baby and died in childbirth. George put the children in an orphanage there before heading on to Los Angeles, where he promised to send for them. The children stayed in the orphanage until the oldest child, Marcella, was able to make enough money to get them all out. She moved them back to New York City, where she became the first Jewish female to hold a seat on the Wall Street stock exchange, where she made millions of dollars that she later gave to Brandeis University. She lived with her sisters in an apartment on Charles Street in Greenwich Village and had a house in Southampton, New York, and somewhere along the way had an affair with J. P. Morgan. Interesting? You bet. But don’t worry about remembering any of this, because it’s 90 percent wrong, which I didn’t find out until years later.
Julie Klam (The Almost Legendary Morris Sisters: A True Story of Family Fiction)
It calls for compassion, most of all for the direct victims of our dominant food practices, but also those who are exploited by the contemporary industrial food system. It should also evoke some compassion for ourselves as we work through this complex set of demands to achieve a life whose flourishing does not diminish the flourishing of others. And, if the Dalai Lama’s challenging ideas about universal compassion make sense, we need to practice compassion even for those who support the industrial food system, not in spite of the slaughter of billions of innocent beings, but because of it. As the philosopher Baruch Spinoza observed, “Hatred is increased by reciprocal hatred, and may on the other hand be destroyed by love” (Spinoza and Morgan 2006, 83).” (Compassion and being human: Deane Curtin p. 1310
Carol J. Adams (Ecofeminism: Feminist Intersections with Other Animals and the Earth)
Oddly, the creator of Morgan Stanley was not a person, but a law. In response to the speculative bubble of the 1920s, the 1929 Crash, and the Great Depression, Congress enacted the Glass-Steagall Act of 1933. Glass-Steagall addressed the public concern about the comingling of the commercial banking and securities businesses, and it required U.S. banks to choose one business or the other. When J. P. Morgan & Company, a private bank and a member of the New York Stock Exchange, opted to remain a commercial bank, several J. P. Morgan employees split off to organize a securities firm. Thus, Morgan Stanley was born.
Frank Partnoy (FIASCO: Blood in the Water on Wall Street)
His assessments in many cases were one step ahead of those of J. P. Morgan’s men, who often swooped in right after Rask, driving the stock up. In fact, in the midst of the storm, he received a note from Morgan, mentioning his father (“Solomon’s were the finest maduros I ever had the pleasure to smoke”) and inviting him to confer with some of his most trusted people at his library,
Hernan Diaz (Trust)
The greatness of Zemurray lies in the fact that he never lost faith in his ability to salvage a situation. Bad things happened to him as bad things happen to everyone, but unlike so many he was never tempted by failure. He never felt powerless or trapped. He was, as I said, an optimist. He stood in constant defiance. When the secretary of state teamed up with J. P. Morgan and the Honduran government in a way contrary to Zemurray’s interests, he simply changed the Honduran government. When United Fruit drew a line at the Utila River and said, “You shall not cross,” he crossed anyway. When he was forbidden to build a bridge, he built a bridge but called it something else.
Rich Cohen (The Fish that Ate the Whale: The Life and Times of America's Banana King)
In February 2017, seven of the world’s biggest banks, including J.P. Morgan and UBS, joined forces with the CME Group, Intel, and Microsoft to found the Ethereum Enterprise Alliance to “define enterprise-grade software
Michael J. Casey (The Truth Machine: The Blockchain and the Future of Everything)
In the early 1920s, Lee Higginson was one of the most prestigious and profitable banks in the world – just behind J. P. Morgan but ahead of Goldman Sachs and Lehman Brothers. The firm’s roots were in Boston, not New York, yet even as America’s financial business shifted from State Street to Wall Street during the early twentieth century, Lee Higginson remained one of a handful of global “money banks.
Frank Partnoy (The Match King: Ivar Kreuger and the Financial Scandal of the Century)
The Lee Higg partners were especially interested in the business of foreign lending, and here they saw more cracks in Morgan’s foundation. Earlier, during the war, J. P. Morgan & Co. had arranged over $1.5 billion in loans to the Allied forces.26 Immediately after the war, the United States government wanted to become more involved in reparations, but said it could not do so without Morgan, which controlled lending to governments. Only Morgan seemed to have access to sufficient funds to rebuild Europe, and no foreign leader could imagine borrowing money without Morgan playing a leading role.
Frank Partnoy (The Match King: Ivar Kreuger and the Financial Scandal of the Century)
This systemic risk problem is what drew Blythe Masters, one of the key figures behind blockchain innovation on Wall Street, into digital ledger technology; she joined Digital Asset Holdings, a blockchain service provider for the financial system’s back-office processing tasks, as CEO in 2014. Masters is best known for one of the most contentious financial innovations of our time, the credit default swap (CDS), a financial derivative contract in which one institution agrees to pay another if a particular bond or loan goes into default. At the age of just twenty-five, and as part of a crack team at J.P. Morgan, she conceived of CDSs as a way for investors to buy insurance against the risk they bear on their balance sheets—and thus to unlock capital hitherto tied up against that risk—as well as for other investors, the banks, and other institutions that issue the CDS to place a bet on the underlying asset without actually owning it.
Michael J. Casey (The Truth Machine: The Blockchain and the Future of Everything)
The object of so tying up these securities is that J.P. Morgan & Co. may be assured of the control of the business for a given period of years,
Ron Chernow (Titan: The Life of John D. Rockefeller, Sr.)
Only the prestigious Wall Street firms such as J. P. Morgan and Company or Kuhn, Loeb could tap the foreign and domestic capital needed to execute these transactions.
Ron Chernow (Titan: The Life of John D. Rockefeller, Sr.)
I’m afraid J.P. Morgan and Company doesn’t lend to women,” he said amicably. “If you get married again, come see me. We’d be happy to lend the money to your husband.
Anita Abriel (The Life She Wanted)
The article caught the attention of J.P. Morgan, who called on Tesla. Tesla met with Morgan and explained that he
Sean Patrick (Nikola Tesla: Imagination and the Man That Invented the 20th Century)
The article caught the attention of J.P. Morgan, who called on Tesla. Tesla met with Morgan and explained that
Sean Patrick (Nikola Tesla: Imagination and the Man That Invented the 20th Century)
Mr. J.P. he’s such a sweetie underneath the sternness,
Ron Chernow (The House of Morgan: An American Banking Dynasty and the Rise of Modern Finance)
For 1863, the same year that Lincoln’s Emancipation Proclamation asserted the liberty of slaves, the twenty-eight-year-old Carnegie reported a personal wartime income of $42,260.67; this dwarfed by many multiples the amount he still earned as an official employee of the railroad. Of course, there was a fundamental mechanism that allowed such pursuit of personal gain during inestimable bloodshed. The Union Army allowed wealthier men who were drafted to pay $300 for a substitute to fight in their place. This had even boiled over into a dramatic bit of class warfare with the Draft Riots in New York City, where “$300 man” was the invective used by the have-nots in occasionally accosting the haves. One $300 man, J. P. Morgan, the son of America’s top banker in London, noted in his account book that he had spent about the same amount on cigars in 1863.
Bhu Srinivasan (Americana: A 400-Year History of American Capitalism)
Another recollection of Duveen’s was of being taken by his father to see the elder J. P. Morgan in his London house, at Prince’s Gate. His Uncle Henry, who had by then become a pet of Morgan’s, had told Morgan that his brother was, next to him, the highest authority on Chinese porcelains.
S.N. Behrman (Duveen: The story of the most spectacular art dealer of all time)
I have come to the conclusion that the chief reason of the dislike that exists in Washington for J.P. Morgan & Co. . . . originates in the fact that we ask for no favors, that the Democratic party has tried its best to cripple us in every way it could,
Ron Chernow (The House of Morgan: An American Banking Dynasty and the Rise of Modern Finance)
one reason why J. P. Morgan and Company had an enormous head start with foreign clients.
Ron Chernow (The House of Morgan: An American Banking Dynasty and the Rise of Modern Finance)
seeing that most of the Jews in this country are thoroughly pro-German, and a very large number of them are anti-J. P. Morgan & Co.,
Ron Chernow (The House of Morgan: An American Banking Dynasty and the Rise of Modern Finance)
National City became known as the oil bank, much as J. P. Morgan and Company would be called the steel bank.
Ron Chernow (The House of Morgan: An American Banking Dynasty and the Rise of Modern Finance)
By 1900, the nation’s railroads were consolidated into six huge systems controlled by Wall Street bankers, principally J. P. Morgan
Ron Chernow (The House of Morgan: An American Banking Dynasty and the Rise of Modern Finance)
Mussolini lacked one last guarantee of his survival: international legitimation and economic aid. In 1926, J. P. Morgan partner Thomas Lamont, another Fascist proselytizer, brokered a $100 million loan from the American government to the regime. Implicitly sanctioning Mussolini’s power grab, the act started a century of US support for right-wing authoritarian leaders.21
Ruth Ben-Ghiat (Strongmen: Mussolini to the Present)
the two J. P. Morgans even walked and talked alike.
Ron Chernow (The House of Morgan: An American Banking Dynasty and the Rise of Modern Finance)
Wasson era un banquero de J. P. Morgan convertido en cazador de hongos aficionado
Brian C. Muraresku (La llave de la inmortalidad (Crítica/Historia) (Spanish Edition))
To love Christ more," Elizabeth once said, "is the deepest need, the constant cry of my soul.... Out in the woods and on my bed and out driving, when I am happy and busy, and when I am sad and idle, the whisper keeps going up for more love, more love, more love!
Robert J. Morgan (Then Sings My Soul Book 2: 150 of the World's Greatest Hymn Stories (Then Sings My Soul, #2))
J. P. Morgan had started before the war, as the son of a banker who began selling stocks for the railroads for good commissions. During the Civil War he bought five thousand rifles for $3.50 each from an army arsenal, and sold them to a general in the field for $22 each. The rifles were defective and would shoot off the thumbs of the soldiers using them. A congressional committee noted this in the small print of an obscure report, but a federal judge upheld the deal as the fulfillment of a valid legal contract.
Howard Zinn
J.P. Morgan created artificial panic used as excuse to pass Federal Reserve Act. Morgan was instrumental in pushing U. S. into WWI to protect his loans to British government. He financed Socialist groups to create an all-powerful centralized government which international bankers would control at the apex from behind the scenes. After his death, his partners helped finance the Bolshevik Revolution in Russia.
Gary Allen (None Dare Call It Conspiracy)
he was well known to the partners at J. P. Morgan.
Liaquat Ahamed (Lords of Finance: The Bankers Who Broke the World)
Instead of being described in the investment banking section, J.P. Morgan could as easily have been included in this section, as the last of the Dinosaurs, and perhaps the greatest and most powerful of them all.
Kenneth L. Fisher (100 Minds That Made the Market (Fisher Investments Press Book 23))
J.P. Morgan learned to fish in troubled waters.
H.W. Brands (American Colossus: The Triumph of Capitalism, 1865-1900)
Presently the Rothschilds control, among other things; Shell, BP, Deutsche Bank, Barclays, ABN Amro, Fortis, Unilever, IBM, World Bank Group and International Monetary Fund, ING, Federal Reserve, Bank of England, Arrow Fund Curacao, J.P Morgan and many other banks and influential organizations. The participation of the Rothschild dynasty in various competitive companies misleads even experts. A perfect example of this is when Henry Coston elaborately described the all out struggle between American Standard Oil (of the Rockefeller family) and British Royal Dutch-Shell for market leadership in 1920s France.[17] The struggle for control lasted into the late Fifties.[18] However, he essentially overlooked one important detail; that both oil giants belonged to the Rothschilds! Coston failed to understand that this sham of a fight served only one purpose: to bring in enormous profits while covering up the real power behind it.[19]
Robin de Ruiter (Worldwide Evil and Misery - The Legacy of the 13 Satanic Bloodlines)
Oddly, the United States came rather late into the picture. It was only in 1913, thanks to the efforts of J. P. Morgan, that it got its own central bank, and called it the Federal Reserve Board or the Fed. The Fed would be the ‘lender of last resort’—to save greedy banks which had gone bust—something that happened all too often then.
T.C.A. Srinivasa Raghavan (A Crown of Thorns: The Governors of the RBI)
Perhaps in that flight of birds . . . the leader was not really a bold spirit trusting to its own initiative and hypnotizing the flock to follow it in its deliberate gyrations. Perhaps the leader was the blindest, the most dependent of the swarm, pecked into taking wing before the others, and then pressed and chased and driven by a thousand hissing cries and fierce glances whipping it on.” —George Santayana, The Last Puritan ACKNOWLEDGMENTS Sometime early in 2016 I was at a cocktail party with my editor and publisher Morgan Entrekin who, for his sins, has commissioned every book I’ve published. I
P.J. O'Rourke (How the Hell Did This Happen?: The Election of 2016)
Rockefeller “The most important thing for a young man is to establish a credit — a reputation,
Charles River Editors (Robber Barons: The Lives and Careers of John D. Rockefeller, J.P. Morgan, Andrew Carnegie, and Cornelius Vanderbilt)
Estando en Hong Kong en 2009, me enteré de que la ciudad de Shanghai acababa de adoptar nuevos libros de texto escolares de historia que resaltan figuras como J. P. Morgan y Bill Gates, instituciones como el mercado de valores de Wall Street y adelantos tecnológicos como el viaje a la Luna o el tren bala de Japón. En lugar de estar enfocados en guerras o conflictos ideológicos del pasado, los nuevos libros de texto de la China comunista enfatizan el crecimiento económico, la innovación y la globalización.
Andrés Oppenheimer (Basta de historias: La obsesión latinoamerican con el pasado y las doce claves para el futuro)
In his book The Prime Movers,1 psychologist Edwin Locke identifies the core mental traits of great business leaders—Steve Jobs, Sam Walton, Jack Welch, Bill Gates, Walt Disney, and J. P. Morgan, to name only a few. While a number of variables contributed to their success, Locke found one key trait they all shared: vision.
Peter H. Diamandis (Bold: How to Go Big, Create Wealth and Impact the World (Exponential Technology Series))
A man approached J. P. Morgan, held up an envelope, and said, “Sir, in my hand I hold a guaranteed formula for success, which I will gladly sell you for $25,000.” “Sir,” J. P. Morgan replied, “I do not know what is in the envelope; however, if you show me, and I like it, I give you my word as a gentleman that I will pay you what you ask.” The man agreed to the terms and handed over the envelope. J. P. Morgan opened it and extracted a single sheet of paper. He gave it one look, a mere glance, then handed the piece of paper back to the gent. And paid him the agreed-upon $25,000. On the paper… 1. Every morning, write a list of the things that need to be done that day. 2. Do them.
Tom Peters (The Excellence Dividend: Meeting the Tech Tide with Work that Wows and Jobs that Last)
J. P. Morgan once had a friend who was so worried about his stock holdings that he could not sleep at night. The friend asked, “What should I do about my stocks?” Morgan replied, “Sell down to the sleeping point.
Burton G. Malkiel (A Random Walk Down Wall Street: The Time-Tested Strategy for Successful Investing)
As a wholesale bank, J. P. Morgan and Company would take deposits only from important clients—large corporations, other banks, foreign governments. Like other private New York banks, it rejected deposits from the general public and accepted money only from wealthy people with proper introductions. It paid no interest on deposits of less than $7,500 and held no deposit of less than $1,000.
Ron Chernow (The House of Morgan: An American Banking Dynasty and the Rise of Modern Finance)