1. The Three Most Significant Points from "The House of Morgan"
... Because a man I do not trust could not get money from me on all the bonds in Christendom". Although Chernow does not focus on the internal credit granting process of the House of Morgan, he provides nothing that indicates that when Pierpont told the Pujo hearings "I have known a man to come into ... them a check for $1m when I know that they had not a cent in the world" he was exaggerating. Building a financial house on such a weak credit process would be totally unacceptable in modern finance, and inevitably the House of Morgan made a number of poor investment decisions ranging from in...
- Word Count: 1197
- Approx Pages: 5
- Has Bibliography
- Grade Level: Graduate