J.P. Morgan Common Ap

Tuesday, February 08, 2011 10:51 AM

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I have always held the belief that those to whom much is given much is expected. Throughout my life I have been provided with education and incredible opportunities. Much of this is due to my father who has given me the resources needed to succeed. He has paid for my schooling in the United States, London, Switzerland, and Germany. Furthermore, he provided me with banking foundations and business connections. With so much given to me, I’ve felt it my duty to give back, and am greatly humbled to have twice saved the U.S. economy.

As fallout from the Panic of 1893, the U.S. economy spiraled downward which placed increasing pressure on the gold, and the Treasury was nearly out of gold by 1895. At this time I spoke with President Cleveland about saving Treasury. He approved of my plan, and I played the role of central banker and organized a private group of businessmen from Wall Street and Europe who bought $65 million of government bonds. In the end, the Treasury’s surplus was restored.

The Panic of 1907 brought further turmoil to the American economy and several banks were on the verge of bankruptcy. To meet this crisis, I organized a meeting amongst the nation’s leading financiers.

The Treasury had earmarked $35 million dollars, and I had to plan a course of action to use this and outside funds to save the economy. I hired an investigative team to evaluate the assets held by banks and strategically redirected funds and secured international lines of credit. My efforts paid off and the crises was resolved.

While I have financially profited from these operations, it is much more satisfying to have saved the economy. Living in accordance to the philosophy “to whom much is given much is expected,” I consider these operations as responsibilities rather than achievements.

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these operations as responsibilities rather than achievements.

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