The 1907 panic had revealed the weakness in the Morgan-dominated banking sy...
Citations (1)
- All the Presidents' Bankers: The Hidden Alliances That Drive American Power whole source · open book
The 1907 panic had revealed the weakness in the Morgan-dominated banking system, in that it relied too heavily on the maneuvers and money of an elite group of men who wielded increasing control over the country. For their part, the bankers knew that too many emergencies could put them in danger of losing their preeminent position over US finance.
chapter: Introduction: When the President Needed the Bankers