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| Topic: |
History
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| Number of pages / Number of words: |
3 / 610 |
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Morgan became what it known as today. Morgan shaped modern capitalism as he "capitalized on the widespread dislocations to adapt investment banking to the financial needs of an industrializing America." Kessner makes a point to show that Morgan was a different sort of railroad banker. He pursued a more hands on approach to banking unlike how other investors liked to keep their distance...
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He pursued a more hands on approach to banking unlike how other investors liked to keep their distance. New York's banks set the interest rates for the nation, as New York City became the center for the banking industry. John D. Rockefeller was another ambitious man whose name became synonymous with big business as he "developed a strict rationalization in oil that did everything the bankers had hoped to accomplish with railroads, ridding his industry of redundancies and consolidating control over prices and markets...
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