Roosevelt Approves U.S. Steel Acquisition of Tennessee Coal & Iron During Panic, Exposing Reform Limits
On the morning of Saturday, November 2, 1907, during the Panic of 1907 financial crisis, J.P. Morgan convened a meeting at his library proposing that U.S. Steel—which already controlled 60% of the steel market—purchase stock in the insolvent brokerage firm Moore & Schley, which had borrowed …
Theodore Roosevelt
J.P. Morgan
Elbert H. Gary
Henry Clay Frick
U.S. Steel Corporation
+2 more
antitrust
corporate-power
financial-crisis
progressive-era
regulatory-capture
Read more →