The most diabolical figure in history of finance - J.P. Morgan the demon himself

Sup guys. Finished a book on JP Morgan.

JP Morgan the man himself and the WASP banking establishment was straight out the gates of hell and I'm a little shocked at the carnage they were responsible for.

What you are about to read is not some script from Hollywood or some fantasy James Bond movie plot. Yes the world works like this.

HIGH SOCIETY PIMP AND FIXERS WORKED FOR HIM

Tom LaMont was JP Morgan's hitman. He helped Italian fascist Mussolini get recognition for his invasion, conquest, and butchering of East Africa (Ethiopia). This was so his can resume his loans to Italy.  Through his friend Lady Astor in England he got Lord Halifax the Foreign Secretary to recognize Mussolini's conquest of Ethiopia. This occurred in 1938 and it was said that England had tossed Ethiopia to the wolves. Lamont lobbied the Foreign Office using Lady Astor .

SHAMELESS RACIST AND NARROW MINDED

 Morgan despised Jews, Catholics, Germans, liberals, reformers and intellectuals into a single nefarious block. 

Dodged a draft

Pierpont paid $300 for a stand-in during the 1863 drafts. Meanwhile he financed arms purchases for the Union.

Financed wars which he apparently did not like fighting in, see above

Was part of Boer War financing for British Gov

High society pimp

JPMorgan had as a partner a Brit who served as Finance Minister of India. He thought this would help establish a presence in Asia. 

Got into trouble with the law 

Attorney Generals filed an antitrust suit against JPMorgan and JPMorgan was indignant. 
JPMorgan hated regulation and was a sexist. 
 

Racist

Ferdinand Pecora a former District Attorney from New York oversaw investigations that would probe Morgan.  Jack Morgan called Pecora a "dirty little wop" .

Sold junk financial products to unwitting masses

Morgan Guaranty's National City Company's 1900 salesmen unloaded risky Latin American bonds onto the masses when they soured.

Used a U.S. Potus candidate to draft evasive legislations to help avoid inspections

1924 Presidential candidate John W. Davis helped JP Morgan write a statute that helped exempt the bank from state inspection.

Used politicians to get his money back 

Bribed Daniel Webster, the orator and statesman, to make speeches for debt repayment.

JPMorgan infringes on the sovereignty of Honduras
A.    US State Department wanted to create a financial protectorate over Honduras
B.    JPMorgan was brought in 
C.    Honduras debt to British bondholders was forced to be paid
D.    JPMorgan was to take over customs receipts as collateral
E.    Mobs storm Honduras assembly 
 

JPMorgan mediated a war or tried to

A. Turkey and Baltic states had a confrontation in 1912.

B. Jack had partner Harjes and US Ambassador to France to claim that JPMorgan would loan to Turkey and Baltic states if receptive to President Taft's mediation.

C. He later decided against because he felt the loan money could be used to further war efforts.

JPMorgan war profiteer

  1. Purchasing agency appointed by Army Council and Admirality
  2. Lent $3 billion to Allies
  3. Commission was 30 million USD
  4. President Wilson said he would not interfere as it was in furtherance of trade
  5. Made loans to Winchester Ammuntions Company which used it to increase production acapacity
  1. Through its Paris and London offices, it helped France finance the Franco-Prussian War and England the Boer War.
  1. Guggenheims who are of Germany speaking Swiss ancestry suppressed any sympathy for Germany as munitions contracts came in.

And a Bond Villain like this is given:

The United States Congressional Gold Medal,

an Honorary Doctorate of Laws by Harvard University,

and an Honorary Doctorate in Civil Law by Oxford University.

Long story short, be wary of rich white men.

Comments (11)

Most Helpful
1y
Yankee Doodle, what's your opinion? Comment below:

The gist of this is true, but some of the conclusions are flawed. The "WASP banking establishment" is a nice little obfuscation from another clannish ethnic group that nepotistically controls finance.

That said, JP Morgan was one of many corrupt robber barons behind the Union's war efforts in the Civil War and definitely help push America to get involved in World War I.

The conclusion here is that urban financial elites are not be trusted, not some complaint about white people. Most of the people screwed over by JP Morgan (i.e. Civil War and World War I casualties) were white.

"Work ethic, work ethic" - Vince Vaughn

  • 4
  • 1
1y
oligarch, what's your opinion? Comment below:

I apologize for that comment. Yeah rich people everywhere worship money power first and race is secondary and yep rich white men have

thrown ordinary whites under the bus.

I added that part to make it a little more dramatic. Guilty on my part.

D.I.
Learn More

300+ video lessons across 6 modeling courses taught by elite practitioners at the top investment banks and private equity funds -- Excel Modeling -- Financial Statement Modeling -- M&A Modeling -- LBO Modeling -- DCF and Valuation Modeling -- ALL INCLUDED + 2 Huge Bonuses.

Learn more
1y
Yankee Doodle, what's your opinion? Comment below:

Not any more than he's saying Anglo-Protestants control finance :^)

"Work ethic, work ethic" - Vince Vaughn

1y
Yankee Doodle, what's your opinion? Comment below:

Because they did not yet in the 19th Century. That didn't really start until well into the 20th Century.

"Work ethic, work ethic" - Vince Vaughn

Funniest
  • Intern in IB-M&A
1y

Vel beatae ad quia magni facilis ut veniam. Quaerat natus voluptas deleniti sit. Sint magnam quam voluptatibus numquam. Eum et ratione quia et.

Start Discussion

Career Advancement Opportunities

December 2022 Investment Banking

  • Jefferies & Company (▲08) 99.6%
  • Lincoln International (= =) 99.3%
  • Financial Technology Partners (+ +) 98.9%
  • Evercore (▽01) 98.5%
  • Bank of America Merrill Lynch (▲01) 98.2%

Overall Employee Satisfaction

December 2022 Investment Banking

  • PJT Partners (= =) 99.6%
  • Evercore (▲02) 99.3%
  • Greenhill (▲05) 98.9%
  • Canaccord Genuity (▲15) 98.5%
  • William Blair (= =) 98.1%

Professional Growth Opportunities

December 2022 Investment Banking

  • PwC Corporate Finance (▲14) 99.6%
  • Lincoln International (▲03) 99.3%
  • Jefferies & Company (▲04) 98.9%
  • William Blair (▽02) 98.5%
  • Evercore (▽01) 98.2%

Total Avg Compensation

December 2022 Investment Banking

  • Director/MD (10) $613
  • Vice President (38) $392
  • Associates (220) $255
  • 2nd Year Analyst (139) $163
  • 3rd+ Year Analyst (19) $160
  • 1st Year Analyst (466) $153
  • Intern/Summer Associate (88) $151
  • Intern/Summer Analyst (337) $92