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    The House of Morgan: An American Banking Dynasty and the Rise of Modern Finance by Ron Chernow

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    (Paperback - Reprint)

    Average Customer Rating: Customer Rating for this product is 5 out of 5 (2 ratings)

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    • Publisher: Grove/Atlantic, Inc.
    • Pub. Date: September 2001
    • ISBN-13: 9780802138293
    • Sales Rank: 13,570
    • 832pp
    • Edition Description: Reprint
     
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    Synopsis

    The winner of the National Book Award and now considered a classic, The House of Morgan is the most ambitious history ever written about an American banking dynasty. Acclaimed by The Wall Street Journal as "brilliantly researched and written," the book tells the rich, panoramic story of four generations of Morgans and the powerful, secretive firms they spawned. It is the definitive account of the rise of the modern financial world. A gripping history of banking and the booms and busts that shaped the world on both sides of the Atlantic, The House of Morgan traces the trajectory of the J. P. Morgan empire from its obscure beginnings in Victorian London to the crash of 1987. Ron Chernow paints a fascinating portrait of the private saga of the Morgans and the rarefied world of the American and British elite in which they moved. Based on extensive interviews and access to the family and business archives, The House of Morgan is an investigative masterpiece, a compelling account of a remarkable institution and the men who ran it, and an essential book for understanding the money and power behind the major historical events of the last 150 years.

    Annotation

    The most ambitious history ever written about an American banking dynasty, The House of Morgan traces the astonishing path of the J.P. Morgan empire with the sweep of an epic novel. "Brilliantly researched and written" (The Wall Street Journal), the hardcover was recently named winner of the 1990 National Book Award for Nonfiction. 32 pages of photographs.

    Jeffrey E. Garten

    ''The House of Morgan'' is much more than a detailed and colorful description of a family and an institution, more than a parting of the curtains on the three secretive Morgan firms....''The House of Morgan'' is no expose, being free of gossip and the kind of backstabbing that usually takes place when writers interview former partners or competitors. But neither is it dry. Mr. Chernow has managed to get close to his characters in their business achievements, and in the anguish of their personal lives too. The story is beautifully balanced. The author is respectful of the enormous power wielded by the Morgan men, but he is also often skeptical of their motives. He extols the accomplishments of certain partners, but he highlights as well the egregious lapses of judgment and the moral flaws of the executives, including the deep strains of anti-Semitism in the Morgan culture....As a portrait of finance, politics and the world of avarice and ambition on Wall Street, the book has the movement and tension of an epic novel. It is, quite simply, a tour de force. -- New York Times

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    Customer Reviews

    Number of Reviews: 2
    Average Rating: Customer Rating for this product is 5 out of 5
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    Customer Rating for this product is 5 out of 5 More Than I Expected
    E. Dunleavy, an economics student, 04/27/2004

    'The House of Morgan' is a fascinating book that grasped my attention and introduced me into an intriguing world of finance that I had never before experienced. Expecting a bland, strictly analytical book about Morgan and his banking system, I was shocked to learn about all of the various personalities and characters involved in Morgan's world. This book tells an enticing story of a man and his legacy, along with the system that he helped create and refine. The author's authentic descriptions and attention to details make this book personal and quite enjoyable. Although the book is rather lengthy, it is most definitely worth the time.

    Customer Rating for this product is 5 out of 5 The Saga of a Many-faceted Powerhouse
    Serge Van Steenkiste (sergevs@aol.com) , A reviewer, 07/27/2001

    In “The House of Morgan”, Ron Chernow gives a fascinating account of the rise to prominence of the Morgan, one of the world’s most influential banking dynasties during the nineteenth and twentieth centuries. The author narrates, with much clarity, the metamorphosis of JP Morgan into a powerhouse during the Baronial Age, the taming and breakdown during the Diplomatic Age, and its comeback with a vengeance during the Casino Age. Furthermore, Chernow excels in giving life to the characters of the House of Morgan, their allies as well as foes, against the economic, political and social backdrop of their time. The reader progressively comes to the understanding of how much the US financial system is indebted to the domestic and overseas tribulations of a single bank. No other US bank has been able to emulate the power and influence that the House of Morgan has exercised under its various legal disguises since its birth in the City. The eventual repeal of the Glass-Steagall Act does not offer the guarantee that JP Morgan Chase & Co. and Morgan Stanley Dean Witter, the current incarnations of the House of Morgan, will one day be reunited again. Powerful public and private interests probably have too much to fear and lose from the rise of the Phoenix from its ashes.

    Also recommended: 'Titan: The Life of John D. Rockfeller, Sr.' by Ron Chernow