Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Politics : View from the Center and Left -- Ignore unavailable to you. Want to Upgrade?

To: TigerPaw who wrote (10666)	2/2/2006 4:58:32 PM
From: TimF	Read Replies (1) \| Respond to of 542019

The foundations are not totally (or often even largely) controlled by the families anymore. Even if you include the foundations along with the personal wealth of the heirs, I think its silly to say they dominate the economy. Tim

To: TigerPaw who wrote (10666)	2/2/2006 5:19:43 PM
From: GVTucker	Read Replies (1) \| Respond to of 542019

TigerPaw, RE: The Rockefellers and Mellons as a family still directly control the wealth. Their foundations control 51% of Chase Manhatten voting shares, which in turn controls 51% of JP Morgan - Chase which in turns owns 51% of some insurance companies and they hold stock in other companies etc. etc. Whoa now, back up. The firm's name is JP Morgan Chase & Co. Nobody owns anywhere close to a controlling stake in that firm. When JP Morgan and Chase Manhattan merged, nobody owned close to a controlling stake in either firm. There are no shares of Chase Manhattan any more.