House of Morgan Paper
Talha Qazi
Professor Carrafiello
BLAW 5175
14 Oct 2012
My Opinion on the House of Morgan
It was an honor and privilege to have been able to read and enjoy the book, The House of Morgan, by Ron Chernow, as he depicted thoroughly the history of the American banking system as well as the financial system in the United States. As long and challenging as the read was, I really liked how the author, Chernow, stated many facts throughout the history of the U.S. starting in 1835 in the opening chapter with George Peabody and how he played a big part in shaping the economy and banking system of the U.S. I was unaware of his influence prior to reading the book as he started up his banking firm George Peabody & Co. in London. I also went on to learn about how Junius Spencer Morgan (J.S. Morgan), who was the father of John Pierpont Morgan (J. P. Morgan), and Peabody, formed a partnership that would last 10 years with the establishment of Peabody Morgan & Co. It was also good to read an objective historical viewpoint, especially with what is happening in Wall Street over these past few years and the uncertainty that comes with it; the huge buyouts, the big bankruptcies, the whirling stock market, and the fragile dollar that has everyone worried. With all the facts, stories and historical perspectives that were included in the book and the fact that I learned so much, I definitely am glad to have read it, especially since I do have a background in finance. A novel like this for me to read was long overdue.
I was fond of the way the author simplistically explained the emergence of the Morgan Empire, where the business began due to trading American bonds in Europe, in particular London as I learned that it was at that time the center of the financial world, to finance expanding industry in the United States, all this during the time the world was in a debt crisis. It was also really interesting to find out that the financial community heavily relied on the Morgans to
Professor Carrafiello
BLAW 5175
14 Oct 2012
My Opinion on the House of Morgan
It was an honor and privilege to have been able to read and enjoy the book, The House of Morgan, by Ron Chernow, as he depicted thoroughly the history of the American banking system as well as the financial system in the United States. As long and challenging as the read was, I really liked how the author, Chernow, stated many facts throughout the history of the U.S. starting in 1835 in the opening chapter with George Peabody and how he played a big part in shaping the economy and banking system of the U.S. I was unaware of his influence prior to reading the book as he started up his banking firm George Peabody & Co. in London. I also went on to learn about how Junius Spencer Morgan (J.S. Morgan), who was the father of John Pierpont Morgan (J. P. Morgan), and Peabody, formed a partnership that would last 10 years with the establishment of Peabody Morgan & Co. It was also good to read an objective historical viewpoint, especially with what is happening in Wall Street over these past few years and the uncertainty that comes with it; the huge buyouts, the big bankruptcies, the whirling stock market, and the fragile dollar that has everyone worried. With all the facts, stories and historical perspectives that were included in the book and the fact that I learned so much, I definitely am glad to have read it, especially since I do have a background in finance. A novel like this for me to read was long overdue.
I was fond of the way the author simplistically explained the emergence of the Morgan Empire, where the business began due to trading American bonds in Europe, in particular London as I learned that it was at that time the center of the financial world, to finance expanding industry in the United States, all this during the time the world was in a debt crisis. It was also really interesting to find out that the financial community heavily relied on the Morgans to