tag:blogger.com,1999:blog-1527840491496268397.post218863310803100683..comments2024-03-08T11:20:30.095-07:00Comments on Credit Bubble Stocks: Followup on 23 Wall StreetUnknownnoreply@blogger.comBlogger4125tag:blogger.com,1999:blog-1527840491496268397.post-2099690591821369112012-09-03T15:16:57.734-07:002012-09-03T15:16:57.734-07:00Just looking at this again in the context of a twi...Just looking at this again in the context of a twitter debate. This was a good thread!<br /><br />P.S. I'm pruning my library and the Chernow book is GONE. My new policy is to try to buy fewer of that type of book, and review and discard whenever something doesn't meet the 5/5 standard.CPhttps://www.blogger.com/profile/12701174164478027499noreply@blogger.comtag:blogger.com,1999:blog-1527840491496268397.post-80021805654516256132010-11-30T19:03:12.179-07:002010-11-30T19:03:12.179-07:00Yes, I thought the book became pretty dull once Pi...Yes, I thought the book became pretty dull once Pierpont (senior) died.CPhttps://www.blogger.com/profile/12701174164478027499noreply@blogger.comtag:blogger.com,1999:blog-1527840491496268397.post-39701189129942583822010-11-29T10:29:04.362-07:002010-11-29T10:29:04.362-07:00(cont'd)
The cloak and dagger part was intere...(cont'd)<br /><br />The cloak and dagger part was interesting as well. If I remember what I read, it seems that Morgan was at least partly responsible for the establishment of private foreign intelligence networks in places like China and the rest, which would eventually merge with the intelligence operations of other large, international industrial combines (such as the oil interests) and then eventually be subsumed into the American State in the form of OSS/CIA, etc., after the "evolution" in corporate capitalism/fascism was fully achieved.<br /><br />I got the sense that despite its outward appearances, there was nothing necessarily sinister in intent about any of this by an individual like Morgan-- working from a flawed understanding of right and wrong, morality, economic law, what have you, he simply thought he was doing business and this was all natural and right. After all, he was a "great" banker, how could anything he do be wrong?<br /><br /><i>Mellon and the Morgans are both examples of how quickly most men grow tired of compounding wealth, and of what little imagination most rich men have at finding a use for vast wealth.</i><br /><br />I truly appreciate your unique perspective on things. You catch things and pick up on themes that I won't or at least didn't the first time around. Now that you mention it I understand exactly what you mean but at the time I read the book I think I was taking a much more narrow-minded, less thoughtful approach to what I was reading. <br /><br />Well done! Maybe I should go back and re-read sometime. If only it wasn't 900 pgs. I'll have to go back and skim read, I guess.<br /><br />By the way, do you agree that the book was much more exciting, informative and "follow-able" in the first few hundred pages, when Morgan was still competing and growing, and that after his banking regime was an established enterprise and he disappeared from the scene and his various heirs, business and otherwise, took over, the book lost some steam, coherence and entertainment value?<br /><br />I find the building of empires to be much more fascinating than the maintaining of them. As a youngster playing games I often had the same approach-- starting out in a game at a low "level" I found the games thrilling and challenging, but once I had dominated the computer and had only to pay mind to keeping my empire from eroding at the margins I found it to be dull, boring and not even worth playing.Taylor Conanthttps://www.blogger.com/profile/18270678440957992085noreply@blogger.comtag:blogger.com,1999:blog-1527840491496268397.post-70037922785271803272010-11-29T10:28:57.460-07:002010-11-29T10:28:57.460-07:00CP,
My understanding of biographers, and historia...CP,<br /><br />My understanding of biographers, and historians in general, is that they are not "great men" themselves so they get a sense of vicarious satisfaction in playing up the greatness of these men and then basking in the glory of being that person's "biographer". It's like, if you can't be the great man yourself, there is something ennobling about being his trusted servant.<br /><br />How many bureaucrats and functionaries of the modern American state does this psychology describe?<br /><br />So, you mentioned making a margin note. Out of simple curiosity, do you make a habit of writing in books as you read them or even of writing or typing separate notes on another piece of paper or on your laptop as you read? Do you try to summarize what you're learning or do you only record specific important thoughts, key pieces of info or memorable quotes?<br /><br />I have found that I retain more information when I type an outline as I read something formal like a textbook or economic treatise. I think I'd benefit in terms of memorization from making margin notes, as well, but I just can't bring myself to write in my books! It's a strange, perfectionist anxiety issue I have. Maybe I need to start buying two copies of everything-- one to READ and one to merely look at on the shelf!<br /><br />I find your comments on Chernow's focus interesting. This is an omission it would be hard to realize without having some outside knowledge and context of the subject. I would say I definitely approached the book with an "this is all encompassing" attitude. I guess the lesson here is always read with a skeptical, questioning mind and never assume you can ever trust just one resource or "authority", a good lesson in general in life, too.Taylor Conanthttps://www.blogger.com/profile/18270678440957992085noreply@blogger.com