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Politics : Sharks in the Septic Tank -- Ignore unavailable to you. Want to Upgrade?

To: Neocon who wrote (16883)	6/15/2001 3:26:36 PM
From: gao seng	Read Replies (1) \| Respond to of 82486

Me too!

To: Neocon who wrote (16883)	6/15/2001 8:51:37 PM
From: gao seng	Read Replies (1) \| Respond to of 82486

Well, normally I don't get into this. But a few weeks ago I watched a TV show on CNBC called "God and Profit", or something like that. I just caught part of it. I was stunned at the treatment of Morgan. He had just single handedly saved America from financial collapse and so was brought up on charges and the Fed was created. I thought I saw a possible pattern forming here, and became interested. And it got interesting. I mean, is this how we treat our heros, whether they be one man or one company? edit: and the next time America was threatened with financial collapse, we lost. But through the advent of socialism we fought ourway out. And once we have become conditioned to our new lifestyles, things appear pretty good. In fact, too good. Our nation is rolling in dough. What are we going to do with it? We should be deciding right now how to budget the surplus. I mean, we survived a major financial collapse this last year, and the growth rates are still pretty impressive. And Japan is on the 4th leg of an W shaped recovery. Should we spend our money on Japanese assets right now? It would be a good investment, I think. But how will that affect us? Morgan, John Pierpont (1837-1913), American financier, art collector, and philanthropist. Morgan was born in Hartford, Connecticut. He learned banking in the brokerage house of Duncan, Sherman & Company, New York City. In 1860 he became U.S. agent for his father's banking firm in London, and in 1871 he entered the firm of Drexel, Morgan & Company, which he reorganized in 1895 as J. P. Morgan & Company, with branches in Paris and London. Because of his dominant position in the fields of both domestic and international finance, Morgan's control of private enterprise and government financing was unequaled by any American of his time. For many years his company was engaged in railroad negotiations with Edward Henry Harriman and James Jerome Hill. By 1900 Morgan controlled one of the six major railroad lines in the U.S. In 1895 he organized a syndicate to float the bond issue negotiated by President Grover Cleveland for increase of the U.S. gold reserve, thereby helping to stabilize the American economy, which had been shaken by the so-called panic of 1893. In 1901 Morgan organized the U.S. Steel Corporation, which was then the largest corporation in the world. He also gained control of numerous other American businesses, including the Equitable Life Assurance Society. In 1912, during a period of economic discontent, Morgan, a symbol of financial power was investigated by a committee of the U.S. House of Representatives. He testified on his own behalf, denying the existence of a so-called money trust or of any far-reaching financial control. Morgan was also famous as an art collector and philanthropist. During his life he contributed to art museums, cathedrals, churches, and hospitals. After his death the Metropolitan Museum of Art in New York City received a large part of Morgan's collection, which is housed in the Pierpont Morgan wing. In 1924 the Pierpont Morgan Library, originally Morgan's private library, was made into a public institution. "Morgan, John Pierpont," Microsoft® Encarta® Encyclopedia 2000. © 1993-1999 Microsoft Corporation. All rights reserved.