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Maybe it had greater assets under management, that doesn’t translate to power or direct ownership. They are custodians and facilitators. Their worth is traded o
by miketery 7y ago
Maybe it had greater assets under management, that doesn’t translate to power or direct ownership. They are custodians and facilitators. Their worth is traded on NYSE and doesn’t exceed top internet companies, who imo have more power.
- HeWhoLurksLate 7y agoSorry, I should have put a date on there. I was referring to the era right before the Great Depression.
- quintushoratius 7y agoJP Morgan, when it was owned by JP Morgan, was in the position of ordering public officials to attend meetings on and do it's (his) bidding. JP Morgan, the man, is responsible for creating the Federal Reserve. Interesting story from NPR's Planet Money: https://www.npr.org/sections/money/2015/11/11/455675540/episode-505-a-locked-door-a-secret-meeting-and-the-birth-of-the-fed https://www.npr.org/sections/money/2015/11/11/455675540/epis...