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he most striking feature of America's Gilded Age banking and financial markets is their lack of regulation. Wall Street was periodically upended by... colorful figures such as, Jim Fiske, and Jay Gould to manipulate prices and corner markets. The only force countervailing against such panics was a handful of more responsible investors, most notably J. P. Morgan... engineered a successful rescue operation after the... That episode inspired Congress to begin... plans for a central bank. After all, Morgan couldn't live forever. (en) |
