JP Morgan

A beefy thick-necked financial bully, drunk with wealth and power, who bawls his orders to stock markets, directors, courts, governments and nations.

The above two quotes suggests something of a dichotomy within the character of John Pierpont Morgan. On the one hand, a benevolent philanthropists, while on the other a ruthless financier determined to have his way. As with most successful individuals who devote the main energy of their lives to accomplishing a significant goal, John Pierpont Morgan was extremely successful in both domestic and international finance. His influence over and control of private enterprise and government financing was unparalleled in American history, "�in 1871 he entered the firm of Drexel, Morgan and Company, which he reorganized in 1895 as J.P. Morgan and 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," (Encarta 1). Nonetheless, also like most major successes, Morgan devoted so much of his time and energy to being the world's most successful financier that he subsequently neglected his family and the banking world's gain equated to their personal loss. In addition, Morgan's success also came at the expense of those who wo

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to doing in the business world. He was a widower by age 24 when, after battling tuberculosis, his first wife died. This experience and his reaction to it underscores how Morgan's personal life was often out of control, unlike his business life: A widower at twenty-four, after only four agonizing months of marriage to a wraith, he looked gaunt and crumpled. His father attempted to rally him, but he had withdrawn into a numb desolation�He�preferred to sit quietly in his mother's room, now fully understanding her sense of loss after his brother's death�Mimi was laid to rest�[and] For the rest of his life Morgan would visit her grave either on their wedding anniversary or February 17, when he had knelt with Mrs. Sturges beside her deathbed. He sobbed as the coffin was lowered. With it he buried his own youth, and for the first time in his life, he wept in public; he would do so only once again-when he learned of his father's death. Soon after the funeral he appeared to have regained his normal self-control. (Jackson 69-70) The death of his beloved Mimi is significant to the loss that would come for his next wife, a woman names Fanny, who, Morgan married more as a convenient way of consolidating his financial status than fo

Category: People - J