The person to cure the US economic ails

We need someone like JP Morgan who has the guts to do the right thing and hardball Obama, Boehner, and all the other vermins to toe the line.

The only solution for someone with 14 -15 trillion of debt is

1. Raise taxes to the rich.
2. Cut indulgences, over generous medicare and social securities - just go back to basics.
3. Reduce big government. Starting with Obama - cut all government salaries by 20%.


The 2 Most Feared Figures In Finance

No. 2 - John D. Rockefeller
John D. Rockefeller may be the most terrifying figure in finance. He was the richest man in the world and still ranks as the richest man in modern history. His company, Standard Oil, controlled 90% of the American oil industry and was infamous for forcing competitors to bankruptcy and then buying their assets from their creditors. But the thing that made him truly terrifying was his absolute belief in what he was doing. Rockefeller saw cutthroat competition as a ruinous practice that benefited the consumers much less than it ultimately hurt business. Rockefeller saw greater profits and greater benefits could be achieved by the practice of "combination", now called "economies of scale".

Rockefeller is remembered for his hard ball practices of using the immense wealth of Standard Oil to cause train and barrel shortages that ruined his competitors and forced them to come to his side, but he should also be remembered for emphasizing research and development, reducing harmful waste and passing savings onto consumers. There is no doubt that his driving sense of purpose and the means he employed to achieve his ends were not all good, but there is as much to admire about Rockefeller as there is to fear.


No. 1 - J.P. Morgan
J.P. Morgan was a wealthy man, but not near the scale of a Rockefeller or even a Gates. What J.P. Morgan had more of than any other person on this list was pure power. During his lifetime it was said that God owned men's souls and J.P. Morgan owned the rest. The power that Morgan wielded owes as much to timing as to his personal attributes. Morgan was the primary banker for Wall Street, underwriting companies like General Electric and International Harvester at time when the American economy was getting ready to explode. At the time, a bank's reputation decided whether an issue would sell rather than the strength of the company's financials, and Morgan's reputation was gold.

The moment when Morgan was at his most powerful and terrifying, however, came during the Bank Panic of 1907. Morgan personally gathered all the financial and political movers at his mansion and forced them into locked-door negotiations to resolve the crises. The idea that the entire American economy relied on one aging banker to keep it afloat scared the government so badly that the Federal Reserve Bank was created to prevent a similar situation in the future.