Household name for public institutions, the banking legacy. Can you tell us about him and what you found so compelling about him as an agent, an actor within this story, this landscape you are drawing. Guest when i started looking at this time period i knew a lot about roosevelt than i did about morgan as is true of most. This was morgans world, that roosevelt quickly and abruptly in terms of wall street, and by the time roosevelt became president morgan was at the peak of his power. He was the king of wall street, literally called jupiter and zeus. On the eve of the inauguration, the first billiondollar company in the world. That was a company that employed more than any other for the steel production, was a huge monopoly. Just a few months into roosevelts presidency, morgan created the secondbiggest company in the world which is the focus of the book, 400 million which would be 11 trillion. The two Biggest Companies but beyond that morgan controlled the flow of capital. That is where
Household name. People know his name from public institutions, obviously from the banking legacy. Theres not a lot about him. Can you tell us about him and what you found so compelling about him as an agent and an actor within this story, this landscape that you are drawing. It. When i first started looking into this time. , i know a lot more about roosevelt did about morgan. As is probably true of most people. When i realized as i began researching is that this was really morgans world that roosevelt very kind of quickly and abruptly and welcomed in terms of wall streets point of view, treated. By the time roosevelt became president. Morgan was at the peak of his power and if he was the king of wall streets literally called zeus. On the eve of the inauguration. Roosevelt Vice President morgan had created the first billiondollar company in the world. Still with us today. As a company that employed more than any other company and control enormous amount of production. It was a huge mono
Fight between president Theodore Roosevelt and financier j. P. Morganover the size of corporations and Government Intervention at the turn of the 20th century. I wanted to sort of ask you to paint a picture of j. P. Morgan. Obviously youre telling a story about roosevelt but a large amount of the book is about j. P. Morgan. For a lot of americans hes one of those, i dont mean this in a demeaning way but hes out of an empty household name area will know his name from public institutions, obviously from the banking legacy. They dont know a lot about him. Can you tell us about him and why, what you found so compelling about him as an agent, an actor within this story, this landscape that your drawing. So when i first started looking into this time period , i think i knew a lot more about roosevelt than i did about morgan. As is probably true of most people. And what i realized is i began researching that this was really morgans world, that roosevelt very kind of quickly and abruptly and u
Thinking about over the weekend . Next week, which is going to be just gigantic we have everything from ibm, we will bookcase ibm on monday and American Express on friday, both will be challenging and i think they could determine things. Carl, i have to tell you, 8 30 santelli comes on and gives you that housing start number, then diana talks about how there are not a lot of houses. I sit here and i think the fed has done a magnificent job, what can they do . They can take rates down to the point where, yes, maybe jpmorgan doesnt make as much money, bank of america certainly doesnt, but people are buying houses and thats whats been working in the stock market this week is the housing trade the lows, the home depot the deere small tractors, that stuff has been flying off the shelves and thats exciting. It was not, of course, the cloud, saas stocks and cybersecurity. Theres always a bull market somewhere. Right weve been taking note of all the upside reannouncements today. Today its daim
Order. Today we will receive test her name from the honorable Federal Reserve vice chairman for supervision. The honorable with mcwilliams, chairman of the fdic, and the honorable ronnie hood, chairman of the ncua welcome to all of you. This hearing provides a committee an opportunity to examine current state of and recent activities related to regulatory and supervisory activities of these agencies. Its been over a year now since the enactment of s2155 the Economic Growth regulatory relief and Consumer Protection act and the work of the agencies to implement most of the law of provisions. Including the tailoring rules for u. S. Banks and u. S. Operations in foreign banks. Your agency should also carefully review the existing supervisory frameworks and make any necessary adjustments to appropriately and line them with the tailoring rules and requirements. Im july 30th, 2019 all of the republican Banking Committees and i sent a letter to the federal banking regulators urging your agency