Chapter subheading: Trains to the East...... Can't get on?

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Compared with John P. Morgan, the founder of the Morgan consortium, his son Jack P. Morgan is much less famous and has a much lower historical evaluation.

Therefore, some people say that after the elder Morgan, "there is no king on Wall Street".

In all fairness, it's not that this second-generation is really inferior to the first-generation eye, it's just that the keeper is not as legendary as the pioneer.

Another key factor is that people in the United States and around the world are very wary of super-giant trusts like the Morgan consortium, and with the development of capitalism, people around the world are becoming more and more vigilant.

At the end of the nineteenth century, an antitrust movement arose in the United States. Against this backdrop, in 1890, the U.S. Congress passed the Sherman Antitrust Act, the first bill in history that authorized the federal government to control and intervene in the economy.

As the name suggests, this bill is all about antitrust. Section 1 makes it unlawful to restrict interstate or foreign trade by trust or any similar form, and is punishable by a fine not exceeding $5,000, or imprisonment for a term not exceeding one year, or both.

The Act forced the Rockefellers to split their "Standard (Mobil) oil empire" into 37 independent regional oil companies in 1911.

In 1914, the Clayton Act, which supplemented the shortcomings of the Sherman Act, went a step further and prevented the formation of trusts that monopolized certain industries. For example, Article 7 strictly regulates enterprises from obtaining shares of competitors in the same industry to prevent hostile mergers and acquisitions.

But these two bills have done little to address monopolistic practices in the financial sector.

In the thirties, the American people, who suffered heavy losses during the Great Depression, pointed the finger at Wall Street, and the Morgan consortium was naturally the first to bear the brunt.

Ironically, the investigation into Wall Street was originally launched by the Morgan consortium and President Hoover, a close friend of our Master Yuan. His initial target was not Wall Street bankers, but what he saw as "mass short selling" destabilizing the stock market.

Hoover believed that behind these short speculators was the malevolent forces of the Democratic Party, and that the purpose of the Democratic Party's stock market manipulation was to humiliate his efforts to revive the economy and his re-election attempts.

In early 1932, Hoover asked the Senate Committee on Banking and Currency to investigate the short-selling practices at the time. The investigation failed in finding a "Democratic conspiracy," but was very successful in bringing the public eye of the thirties back to the twenties.

Painful memories of 1929 were recalled, and as the hearings wore on, public sentiment swelled like grapes of anger.

In response to the call of the American people, Roosevelt, who began his presidency in 1933, urged the Senate Banking Committee to conduct a more comprehensive investigation to find out "all the effects of bad banking practices."

The dark curtain has finally been revealed, and the ugly behavior of Morgan and his partners has been exposed to the public.

The surging public opinion and the need to clear up the relationship with Morgan prompted FDR to kill the killer as soon as possible and dismember the Morgan consortium as punishment for its scandalous behavior.

The Glass-Steagall Act of 1933 was signed into law by Roosevelt. This bill strictly separates the boundaries between commercial banks and investment banks. After that, banks are either engaged in deposit and loan business, or can only engage in securities trading. The former can only buy bonds issued by the Federal Reserve.

In 1935, the Morgan consortium had to set up a separate investment bank, Morgan Stanley. Stanley), that is, the "big Mo" of the future financial industry.

By the way, in the nineties of the twentieth century, with the joint efforts of the Democrats and Republicans, this bill was canceled. Citigroup and commercial banking groups like **** are making a comeback......

So, there was the subprime mortgage crisis in 2008.

In any case, the financial empire built by the elder Morgan was broken up at the hands of the younger Morgan. The term tiger father and dog son becomes well-deserved.

"It's an honor to meet you, Mr. Morgan."

Our Master Yuan maintained a warm but reserved smile on his face, and his body posture looked very respectful but not to the point of flattery.

In general, it is eight words, neither humble nor arrogant, polite and courteous.

And while he was looking at the "King of Wall Street", people were also looking at him.

Jack P. Morgan ...... I don't know if it's a coincidence or Uncle Ka's intention, the Titanic was made by his father, and the actor of the movie in later generations also happens to be called Jack.

He had long heard of Neo Yuan's name, which was the "NYU Gambling Night" on November 1, 1920, when Yuan Yanqian gambled $500,000 to suppress "250" electoral votes.

Morgan Jr. also lost NYPR stock to Mr. Baker Sr. as a result. (See Chapter 113 of Volume I, "The Big Man")

However, the target of that gamble was only a few hundred thousand US dollars, which did not matter to the head of the Morgan consortium at all, but made him a little curious about this Chinese.

As for the big news that our Master Yuan wrote and made later, it is impossible for little Morgan, who is also in New York, not to know about it. This is where the curiosity grows.

Of course, this idea of curiosity is not enough for the "King of Wall Street" to meet the "NY of NY" side.

What really led to the meeting was the rush of the Morgan consortium to expand its business in East Asia.

Therefore, the Morgan consortium is really in dire need of an expert on East Asian affairs.

And the elder Mr. George Baker told Morgan Jr. that if you want to find a partner in East Asia, Neo Yuan is the best candidate.

So this meeting is really an interview!

As an interview object, Dr. Yuan, who has a charisma value of 17 points, has won the favor of the "King of Wall Street" just from his appearance.

"I'm glad to meet you, Dr. Yuan. I like your "Di Gong Case" very much. ”

"Thank you, Mr. Morgan."

The second generation of the Morgan consortium shook hands with His Royal Highness the Prince of the East Palace of the Yuan Clan's financial empire.

"Mr. Morgan, since you talked about my "Di Gong Case......", Yuan Yanqian took out a beautifully decorated book from his leather bag, handed it over with both hands, and said, "A small gift is not a tribute." ”

Little Morgan took it and saw an abstract train on the cover, and the smoke from the train formed the title and author's name of the book.

The former is "Murder on the Orient Express" and the latter is "Purple Bishop".

"Murder on the Eastern Train...... Purple Bishop ......"

"Mr. Morgan, Bishop Purple is my pen name, the pen name of the detective when I published it."

I only heard Master Yuan say in a deep baritone: "I am very grateful to you for this invitation, and a 'poor student' like me has no gifts to give......"

"I've heard Mr. Louis Baker say before that you're also a detective lover......"

"I just finished a detective book in the past few days, and I haven't had time to submit it, so I'll give it to you as a meeting gift."