Tuesday, May 4, 2010

Great Financial Crises I: "The Trouble Stops Here"

Among Wall Street's Croesian bosses,  
J.P. Morgan stood tall as Colossus;
He laid down the law  
With the clench of his jaw,  
And the point of his purple proboscis.  

In the 1907 collapse,
Mr. Morgan saved Wall Street perhaps;
He commanded the banks
To pay up and close ranks
With a contract he dropped in their laps.

Before they created the Fed,
Mr. Morgan did not fear to tread;
With an effort titanic
He stemmed a bank panic:
"The trouble stops here," Morgan said.

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