Founders

What I learned from reading The Hour of Fate: Theodore Roosevelt, J.P. Morgan, and the Battle to Transform American Capitalism by Susan Berfield.  ---- [0:17] Morgan was the most influential of these businessmen. He wasn’t the richest but that didn’t matter; he was commanding in a way none could match.  [0:38] Morgan had an aristocrat’s disdain for public sentiment and the conviction that his actions were to the country’s advantage, no explanations necessary.  [0:50] Roosevelt thought big business was not only inevitable but essential. He also believed it had to be accountable to the public, and Roosevelt considered himself the public.  [1:04] Each [Morgan and Roosevelt] presumed he could use his authority to determine the nation’s course. Each expected deference from the other along the way. [2:18] “I’m afraid of Mr. Roosevelt because I don’t know what he’ll do,” Morgan said. “He’s afraid of me because he does know what I’ll do,” Roosevelt replied.  [5:24] Morgan had trusted his father to set him on the righ