In early 1983, Morgan credit officers worked around the clock to ra...
Citations (1)
- The House of Morgan - An American Banking Dynasty and the whole source · open book
In early 1983, Morgan credit officers worked around the clock to raise the $4.4 billion. Although the megaloan was assembled in a remarkable two months, it left a residue of ill will toward Tony Gebauer, who embodied the big-stick approach of the Wall Street banks. The smaller banks felt they had been browbeaten into participating, and some, piqued by Gebauer’s high-handed manner, balked at providing new money.12 But afraid of antagonizing the Fed and the Wall Street banks, they grudgingly abided by the plan.
chapter: 32. Samba