The House of Morgan - Part 2 Chapter 13 Jazz Summary & Analysis

Ron Chernow
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Part 2 Chapter 13 Jazz Summary and Analysis

The year is 1924 and it is an election year. The House of Morgan has ties with both candidates. Calvin Coolidge is backed by most of the partners. John W. Davis the Democratic candidate is a Morgan lawyer. The Republicans win the election.

The Morgan bank only deals with the wealthy who come with an introduction. The ordinary person cannot afford to bank there. A Morgan partnership is one of the most desired positions on Wall Street since partners are rumored to make $1 million a year. The Morgans underwrite more in securities, $6 billion, between 1919 and 1933 than any other firm. The partners of the House still sit on other companies' boards. Lamont is the wealthiest of the Morgan partners. He and is wife Florence are active socialites.

Jack, in the meantime, buys a tavern in England, near his Wall...

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This section contains 256 words
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