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The House of Morgan Chapter Summary & Analysis - Part 3 Chapter 35 Bull Summary

Ron Chernow
This Study Guide consists of approximately 76 pages of chapter summaries, quotes, character analysis, themes, and more - everything you need to sharpen your knowledge of The House of Morgan.
This section contains 372 words
(approx. 2 pages at 300 words per page)
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Part 3 Chapter 35 Bull Summary and Analysis

During the 1980s a major change takes place in world financial markets. The United States, which becomes a creditor nation in the 1920s, is now a debtor nation. The financial industry attracts graduates from the top schools. Morgan Stanley names Eric Gleacher as head of its Mergers and Acquisitions department and becomes more active in corporate raids. The firm tops Wall Street in the handling of mergers. They are active in LBOs or leveraged buyouts. This is a method of financing by borrowing funds used to take a company private. They then secure loans using the company's assets as collateral. They repay the loans with future earnings. The LBOs more or less reverse the mergers as they are a way of taking a company private. When Morgan Stanley goes public in 1986, their partners become multi millionaires in one day.

The Morgan...

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This section contains 372 words
(approx. 2 pages at 300 words per page)
Purchase our The House of Morgan Study Guide
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The House of Morgan from BookRags and Gale's For Students Series. ©2005-2006 Thomson Gale, a part of the Thomson Corporation. All rights reserved.
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