o his library that afternoon locked the door and at 4 a.m. that morning his lawyer read out to each of them what they must donate to the bailout package; Morgan said there is the place and here is the pen. The next day Morgan presented the U. S. with a $25 million package to disperse throughout the treasury and other banks as they saw fit. (5) Morgan was declared the Napoleon of Wall Street, he had once again pulled the nation out of dire straights and placed them back on the straight and narrow. (9) Of course none of this went without a little pay off to the man who orchestrated it all. Although he highly despised trusts, Roosevelt allowed Morgan to buy the dying Tennessee Coal and Iron Company for around $45 million when in all actuality the real value was more than likely around $700 million, this expanded Morgans steel empire, so that now he controlled over 60% of the overall steel production. (6) His praise did not come without some grievances however, some people stated that he had engineered the crisis to scoop up assets, like the Tennessee Coal and Iron Co. at fire-scale prices. (9) Nonetheless Morgan had accomplished what he had set out to do and in the process he had designed probably one of the greatest financial packages of his time; he had claimed it the proudest accomplishment of his life(3). Morgans love for power and money have made it clear that while, yes, he did save the nation on more than one occasion that he did have ulterior motives to his actions. He not only used the government for his own personal gains he abused the people as well, by gaining off of their sufferings and losses. J. P. Morgan could have quite possibly been the greatest financier and businessman in history, but he will also go down in history as possibly the greatest profiteer of national ...
