http://en.wikipedia.org/wiki/Thomas_William_Lamont
On Black Thursday in 1929, he was acting head of J.P. Morgan & Co. He tried to inject confidence back into the stock market through massive purchases of blue chip stocks. Following the reorganization of J.P. Morgan & Co. in 1943, Lamont was elected chairman of the board of directors.
At the end of World War II, he made a very substantial donation toward restoring Canterbury Cathedral in England.
John Pierpont Morgan (April 17, 1837 March 31, 1913) was an American financier, banker and art collector who dominated corporate finance and industrial consolidation during his time. In 1892 Morgan arranged the merger of Edison General Electric and Thomson-Houston Electric Company to form General Electric. After financing the creation of the Federal Steel Company he merged the Carnegie Steel Company and several other steel and iron businesses to form the United States Steel Corporation in 1901.Morgan went into banking in 1857 at his father's London branch, moving to New York City the very next year where he worked at the banking house of Duncan, Sherman & Company, the American representatives of George Peabody & Company.During the American Civil War, Morgan was approached to finance the purchase of antiquated rifles being sold by the army for $3.50 each. Morgan's partner re-machined them and sold the rifles back to the army for $22 each. These guns were defective and were known to blow the thumbs off of those who used them. The sale became a scandal and the government refused to pay for their own defective weapons resold to them at an exorbitant markup. Morgan sued the government twice to collect on his contract.[2] Morgan himself, like many wealthy persons, avoided military service by paying $300 for a substitute.An avid yachtsman, Morgan owned several sizable yachts. The well-known quote, "If you have to ask the price, you can't afford it" is commonly attributed to Morgan in response to a question about the cost of maintaining a yacht.Morgan died while traveling abroad in Rome, On March 31, 1913, just shy of his seventy-sixth birthday.
The corporation, Morgan Stanley ,formed by J.P. Morgan & Co. employees Henry S. Morgan (grandson of J.P. Morgan), Harold Stanley and others, came into existence on September 16, 1935.
When Asian markets collapsed in the 1990s, the IMF and U.S. taxpayers spent billions bailing out huge banks like J.P. Morgan, Chase Manhattan, Citicorp and BankAmerica, even though these Wall Street pirates had raked in Asian profits for decades. When Indonesia finally purged itself of General Suharto, the dictator who took over in a CIA bloodbath killing hundreds of thousands of communists, a J.P. Morgan currency expert, Ron Leven, said: Democracy is a desirable form of government, but its not necessarily the most efficient form of government.
J.P. Morgan Chase and Citigroup provided Enron with billions, stage-managing its huge investment deals around the world and arranging a fire-sale buyout by Dynergy that failed. Morgan also played financial backstop for Enrons various kinds of trading transactions (William Greider, 2002).
In one of the biggest deals ever, J.P. Morgan and Bank One recently agreed to merge to create the worlds second-largest financial enterprise. It will have $1.1 trillion in assets.
On September 29, 2008, it was announced that Mitsubishi UFJ Financial Group, Japan's largest bank, will take a stake of $9 billion in Morgan Stanley equity.[6] In the midst of the October 2008 stock market crash, concerns over the completion of the Mitsubishi deal caused a dramatic fall in Morgan Stanley's stock price to levels last seen in 1994. The stock grew considerably after Mitsubishi UFJ closed the deal to buy 21% of Morgan Stanley on October 14, 2008.
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