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Title: The House of Morgan: An American Banking Dynasty and the Rise of Modern Finance by Ron Chernow ISBN: 0-8021-3829-2 Publisher: Publishers Group West Pub. Date: 15 October, 2001 Format: Paperback Volumes: 1 List Price(USD): $20.00 |
Average Customer Rating: 4.76 (33 reviews)
Rating: 5
Summary: Stick With it, You'll Be Pleased
Comment: "The House of Morgan" is one of the best business biography books I've ever read. It is an unbelievably comprehensive piece of research work on an important banking history in the United States. The stories of the people behind JP Morgan & Co give readers so much hopes and belief that anything is possible in your life. Mr. Chernow covers the company's historical and current background in great detail. He also presents a more technical view on what happen in the cycles of US economy that spans over many decades. What I like most about the book is the coverage of individuals involved in building and leading the firms (JP Morgan and Morgan Stanley). These groups of talented individuals are amazing leaders whose stories are worth reading.
I thought that the first 40 pages were pretty slow, but the actions did pick up real soon. By the 700th page, I was hoping there would be a second book written on the House of Morgan. I was especially impressed with Mr. Thomas Lamont that I proceeded to read a separate biography on him. I loved the book so much that I went on to buy some other books related to it - (RJR Nabisco story on Leverage Buyout and The Chief: The Life of William Randolph Hearst). It's a thick book but it's really worth the time to read. You'll be pleased with yourself!
Rating: 5
Summary: A remarkable achievement
Comment: Ron Chernow is arguably the best business historian writing today. His ambitious attempt to tell the story of the famed banking dynasty of J.P Morgan could not have succeeded more brilliantly. Here is a story not of just a bank. It is even more than simply the story of the financial services industry. It is, in fact, the story of the modern era, where everyone from Teddy Roosevelt and Benito Mussolini to Paul Volker and Ivan Boesky figure prominently.
At the heart of this epic is a great paradox: the rise of modern global finance ushered in the demise of the banker. In J.P. Morgan's day, a small group of bankers held sway over giant corporations and the governments of global powers, serving as intimate advisors and self-regulating their industry with a strict but unwritten gentleman banker's code of conduct. The institutions that banks like Morgan created ultimately grew too powerful to control. Whereas once governments and companies were at the mercy of their bankers, today the reverse is true. Chernow tells the story of this transformation in exquisite detail and with admirable clarity.
As interesting and well written as this book is, some may still find it to be a challenge to finish. For those who like to read a few pages before bed every night, you should expect the "House of Morgan" to be on the nightstand for several months. However, if you have the time and commitment, you'll likely find the experience of reading this book to be a worthwhile and fulfilling one.
Rating: 5
Summary: Sympathy for the baron
Comment: No one writes about the history of modern finance better than Chernow and this is the biggest story of modern finance. What else do you need to know?
The only downside for me was that the book¡¯s most compelling character, old red nose himself, dies a third of the way into the history, leaving us with a procession of interesting but by no means fascinating individuals to carry us through to the roaring 1980s. This is not to fault Chernow. He makes his aim clear from the start: to write about Morgan and the financial universe he helped create. He never pretends this is a tell-all about J.P. and his infamous philandering, temper and power-brokering, (though there was more than enough juicy tidbits to keep the pages turning).
Most fascinating of all was Chernow's sympathetic portrayal of J.P. as a reluctant master of the universe, someone who took control of disorderly and scandal-ridden U.S. financial market to tame them and bring honor to the upstart United States of America. It was quite touching. Not what I expected when I picked up the story of America's most infamous robber baron. We could use someone like him today.
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Title: Titan : The Life of John D. Rockefeller, Sr. by Ron Chernow ISBN: 0679757031 Publisher: Vintage Pub. Date: 07 September, 1999 List Price(USD): $18.00 |
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Title: The Warburgs : The Twentieth-Century Odyssey of a Remarkable Jewish Family by Ron Chernow ISBN: 0679743596 Publisher: Vintage Pub. Date: 23 August, 1994 List Price(USD): $21.00 |
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Title: Goldman Sachs : The Culture of Success by Lisa Endlich ISBN: 0684869683 Publisher: Touchstone Books Pub. Date: 09 March, 2000 List Price(USD): $14.00 |
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Title: The House of Rothschild: Money's Prophets, 1798-1848 by Niall Ferguson ISBN: 0140240845 Publisher: Penguin USA (Paper) Pub. Date: November, 1999 List Price(USD): $20.00 |
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Title: The House of Rothschild: The World's Banker 1849-1998 by Niall Ferguson ISBN: 0140286624 Publisher: Penguin USA (Paper) Pub. Date: 05 September, 2000 List Price(USD): $19.00 |
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