The success of the Morgan family is the epitome of the success of Wall Street. The "Morgan Management System" founded by the Morgan family still dominates and influences everything on Wall Street. This kind of thought and strategy runs through the whole process of capitalism from infancy to maturity. In the process of Morgan family's efforts to create economic miracle, J? p？ Morgan undoubtedly plays the role of connecting the past with the future. j？ p？ Morgan initiated the "Morgan era", that is, the era when financial oligarchs dominated corporate tycoons. His famous saying is: "it is not the law that drives history, but money, just money!" " "
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Fortune family motto: "not the law but money, money!" " "Today, we must predict what kind of talents we need tomorrow." "Information is the magic weapon to make money."
One of the top ten American consortia. Formed at the end of 19 and the beginning of the 20th century, it is a monopoly capital consortium that rules the American economy. Founder J.P. Morgan founded drexel-Morgan Company on 187 1 on the basis of his father J.S. Morgan's wealth, and engaged in banking business such as investment and credit. 1894, the partner died and was wholly owned by him. 1895 changed its name to J.P. Morgan Company, and based on this company, it expanded its power to financial and economic fields (such as steel, railways and public utilities) and began to form monopoly consortia. 19 12 years, Morgan consortium controlled 13 financial institutions with total assets of $3.04 billion, among which Morgan Corporation was the strongest and dominated the American financial sector. The financial tycoons on Wall Street called Morgan Company "the banker among bankers". Morgan Consortium made a fortune in World War I, and with its abundant financial capital, it penetrated into all sectors of the national economy after the war. In 1930s, the total assets of big banks and enterprises controlled by Morgan Consortium accounted for more than 50% of the eight American consortia at that time.
Due to the increasing competition among consortia, other consortia took Morgan Consortium as the main target, so its strength status declined relatively, and it was once surpassed by Rockefeller Financial Group. In order to save the decline, it has taken various measures. In finance, we should use a solid financial foundation to expand our strength. In terms of industry, we have actively explored emerging technology industries, and since the 1960s, we have leapt to the first place in technological departments such as electronic computers, high-speed photocopiers and microfilm. The International Business Machines Corporation under the consortium is the largest computer manufacturer in the world. Electrical equipment, power equipment and atomic energy equipment with a good foundation have also made great achievements. In the arms industry, General Electric Company, General Dynamics Company and Grumman Aircraft Company controlled by Morgan Consortium are the top arms contractors of the US Department of Defense. By the end of 1970s, the trust assets of Morgan Consortium grew rapidly, far exceeding other consortia. The rise of cutting-edge technology industries such as computers doubled its economic strength. In terms of the number of enterprises controlled by Morgan Consortium and the assets it owns, it is superior to Rockefeller Financial Group.
Morgan consortium has a solid foundation in the financial industry. Its main pillar is J.P. Morgan Company. Morgan is one of the largest multinational banks in the world, with 65,438+00 subsidiaries and many branches in China, and more than 65,438+0000 communication banks. It has branches or representative offices in about 20 big cities abroad, and owns shares in financial institutions in nearly 40 countries. Its operating characteristics are buying and selling a large number of stocks and operating huge trust assets. It controls the shares of 37 foreign commercial banks, development banks, investment companies and other enterprises. In addition, there are manufacturers Hanover Company, new york Banker Trust Company, Northwest Bank Company, Prudent Life Insurance Company and new york Life Insurance Company. Among the industrial and mining enterprises, there are mainly International Business Machines Corporation, General Electric Company, International Telephone and Telegraph Company, American Steel Company and General Motors Company. In terms of public utilities, there are AT&T and Southern Company.