5min snip

Business Movers cover image

JP Morgan Saves Wall Street | A Family Affair | 1

Business Movers

NOTE

JP Morgan Saves Wall Street: The Panic of 1873

The United States had no powerful central bank to intervene during the Panic of 1873/nJ.P. Morgan's bank focused on propping up struggling commercial banks to prevent bank runs/nJ.P. Morgan inspired confidence in American investments by selling replacement bonds on behalf of the government/nJ.P. Morgan's efforts helped stabilize the market and prevented the American economy from completely crumbling/nJ.P. Morgan's successful transition from a risk taker to a respected establishment figure paved the way for his career as America's unofficial central banker/nThe next episode of Business Movers will show how J.P. Morgan attempted to clean up the increasingly corrupt railroad industry

00:00

Get the Snipd
podcast app

Unlock the knowledge in podcasts with the podcast player of the future.
App store bannerPlay store banner

AI-powered
podcast player

Listen to all your favourite podcasts with AI-powered features

Discover
highlights

Listen to the best highlights from the podcasts you love and dive into the full episode

Save any
moment

Hear something you like? Tap your headphones to save it with AI-generated key takeaways

Share
& Export

Send highlights to Twitter, WhatsApp or export them to Notion, Readwise & more

AI-powered
podcast player

Listen to all your favourite podcasts with AI-powered features

Discover
highlights

Listen to the best highlights from the podcasts you love and dive into the full episode