Why Virgin Galactic Could Remind Us of J.P. Morgan

Debating billionaire power, we can compare J.P. Morgan in 1907 to the impact of Jeff Bezos, Richard Branson, and Elon Musk on space travel.

U.S. Steel and Apple: From One Billion to One Trillion

Rather like Apple just became the first trillion dollar corporation, in 1901 U.S. Steel took us past the billion dollar threshold.

One Woman’s Response To Uber

Whether looking at a woman who needs close to $360 to pay her rent or a railroad that needs to be built, financial intermediaries are an economic necessity.

Job Creators or Robber Barons?

I have confessed before that I admire the entrepreneurs who have been called the robber barons. Carnegie and steel, Rockefeller and oil, J.J. Hill and railroads, Morgan and money. These men and others from their 19th century world competed lethally.…

The First Credit Default Swap

Some of the euro zone’s problems actually started with the Exxon Valdez oil spill. After the 1989 Exxon Valdez calamity, when an Alaska jury said that Exxon owed $5 billion in damages, they asked J.P. Morgan for a $4.8 billion…

October Stock Markets

During October 1907, when the stock market crashed and the banking system panicked, we had no central monetary authority. We just had J.P. Morgan. “Why don’t you tell them what to do, Mr. Morgan? (Belle da Costa Greene, J.P. Morgan’s…