The Rise and Fall of JP Morgan

In the absence of a central bank there was no alternative to rescuing financial institutions that were illiquid but still solvent they just didn't have the cash. Rockefeller instructed James Stillman the president of city national bank to cooperate liberally with JP Morgan and other key players in the New York crisis. John D Rockefeller probably couldn't have been as successful if he had told James Stillman not to get involved, says Robert La Follet. The first edition of this 16 years ago I had the privilege of interviewing you about it in front of a live audience a smaller audience than we have today virtually but uh that was great fun.