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Strategies & Market Trends : Booms, Busts, and Recoveries
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To: tradermike_1999 who wrote (293)10/28/2000 9:34:09 PM
From: Patrick Slevin  Read Replies (1) of 74559
 
<somewhere it stated that someone who worked for the Morgan bank helped right the Federal Budget during the Wilson administration. >

Even more of interest may have been the circumstances around the crash and the ensuing Depression.

The Morgans did have a lot of influence. Market Crashes did not occur, merely because the Morgans could avert them. That became untrue as the years went on.

Anyway it is not that important. The Glass-Steagall Act decimated the power of the banks anyway. Probably, it was a moronic measure. But that is history, so there is not much one can say about it.
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