J. P. Morgan

John peel Ponte Morgan: in the world of the person all know American New York city is the world financial center, and Wall Street is New York finance barometer, it is the symbol of economic prosperity. But Wall Street really big brother is John Peel Ponte Morgan. Development today, Morgan consortium is already one hundred years history in the world rich. Although the world economy slipping changeable, but Morgan consortium position and not shake, Morgan consortium have such a position, should first of all thanks to its founder, Morgan.

On April 17, 1837, John peel Ponte Morgan was born in Connecticut Hartford city a rich merchant family. Morgan grew up showed great business ability, especially in speculative aspect to have extra sense, it can be said that he is by speculative power in life. In 1857, Morgan has just graduated from the University of travelling to New Orleans, relies on coffee business and made a lot of money. For this reason, the ability of Morgan was praised by Morgan’s father. His father help his son opened a Morgan businesses on Wall Street. Here, Morgan began his career ladder. The second half of the 19th century, the development of the railway developed quickly, he told a few big railway operators to planning. By 1900, the Morgan direct under the control of railway more than 108000 km. At that time theUnited States account for almost two-thirds of railway. This kind of idea, oil magnate Rockefeller previously has had, but didn't succeed. And Morgan did no better than the Rockefeller more abundant resources, but finished, because he can dispatch control of money often as high as dozens of times even into one hundred times. If there is no very clever wrist, is impossible to run freely. Then Rockefeller will admit that, Morgan assemble capital power is what can't one. In 1912, Morgan consortium controls the 53 big companies, with total assets of $12.7 billion. These assets, there are financial institutions and home, $3.04 billion; company and home, $24.6; Railway company 19, $5.76 billion; Utility companies and home, $1.44 billion. Morgan offspring continues to expand, the consortium coach was not decreased, equation more eminent. Morgan leave a glorious family, leaving pioneering "joint acquisition national debt" Wall Street's practice. Morgan family wealth derived from the first financial business, and then, turns to the enterprise investment and occupied the pillar industry; maintain huge wealth sources, in turn to strengthen the Morgan family financial hegemony status. Morgan created the "Morgan age", namely the financial oligarchs dominate enterprise tycoon era. Morgan alliance to Morgan Company for shaft for director department chain leadership, and big financial capital the following, more than 200000 main financial institutions link each other, thus constitute the huge structure, organization strict "Morgan system". This financial group holds 33% of the financial capital, valued at nearly $20 billion!

Morgan old age was doom and gloom. L912 years, Morgan consortium's flagship the Titanic sank. In the same year, congress began to investigate some charges: Morgan syndicate suspected deliberately control the United States financial fate, the 75 - year - old Morgan was forced to accept the trial court congressional committees, and this has led to the collapse of his spirit, in two months after death. Since then, no which one can on the U.S. economy produce such an important influence: Morgan died that year, congress for the United States federal reserve - the famous control the U.S. economy tangible hand, this is perhaps the most exact to the eulogy.