Posts Tagged ‘J.P. Morgan’

  • Self-interest represents the seeds that blossom into economic growth.

    Job Creators or Robber Barons?

    Oct 3, 12 • 295 Views • 2 Comments

    I have confessed before that I admire the entrepreneurs who have been called the robber barons. Carnegie and steel, Rockefeller and oil, J.J. Hill and railroads, Morgan and money. These men and others from their 19th century world competed lethally. On the...  [read more]

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    The First Credit Default Swap

    Nov 28, 11 • 333 Views • No Comments

    Some of the euro zone’s problems actually started with the Exxon Valdez oil spill. After the 1989 Exxon Valdez calamity, when an Alaska jury said that Exxon owed $5 billion in damages, they asked J.P. Morgan for a $4.8 billion line of credit. Concerned...  [read more]

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    October Stock Markets

    Oct 11, 11 • 246 Views • No Comments

    During October 1907, when the stock market crashed and the banking system panicked, we had no central monetary authority. We just had J.P. Morgan. “Why don’t you tell them what to do, Mr. Morgan? (Belle da Costa Greene, J.P. Morgan’s...  [read more]