Founders

What I learned from reading The House of Morgan: An American Banking Dynasty and the Rise of Modern Finance by Ron Chernow. [0:01] This book is about the rise, fall, and resurrection of an American banking empire—the House of Morgan. [1:56] What gave the House of Morgan its tantalizing mystery was its government links. Much like the Rothschilds it seemed insinuated into the power structure of many countries, especially the United States. [2:46] They practiced a brand of banking that has little resemblance to standard retail banking. [3:43] They have weathered wars and depressions, scandals and hearings, bomb blasts and attempted assassinations. [4:44] Contrary to the usual law of perspective, the Morgans seem to grow larger as they recede in time. [5:41] I was struck that the old Wall Street—elite, clubby, and dominated by small, mysterious partnerships—bore scant resemblance to the universe of faceless conglomerates springing up across the globe. [6:49] Only one firm, one family, one name rather gloriously s