JP Morgan bailed out banks in 1907 but a severe recession occured anyway. Nelson Aldrich, a powerful senator with close ties to Morgan, led a mission to Europe in 1908 to study the workings of the central banks in England, France and Germany. The Federal Reserve was created a short time later.
banks
A bankrupted con-artist…
A bankrupted con-artist from Oregon was able to purchase a bank license and opened a offshore bank in Grenada by claiming to own a 4 pound ruby worth $20 million dollars and a appraisal document proving its worth. The ruby was owned by a man in California who didn’t know the scammer.
In 2011, a 29-year-old Australian bartender…
In 2011, a 29-year-old Australian bartender found an ATM glitch that allowed him to withdraw way beyond his balance. In a bender that lasted four-and-half months, he managed to spend around $1.6 million of the bank’s money.
“Being able to make your account balance move up into the millions by the stroke of a key was a very addictive thing; I felt like a caveman discovering fire.”
Bank of America was originally…
Bank of America was originally founded as Bank of Italy, in America. They survived the Great San Fran Earthquake and were the first bank to open after it. Turns out, the bank owners had smuggled the money out of the city right after the quake. The fires consumed most of downtown and left the other banks with hot, unopenable vaults. BOA had money on hand to restart things.
And Wells Fargo was originally a stagecoach transport service. They mostly transported money across the nation, so they began developing a network of locations from coast to coast.
A professional security tester…
A professional security tester named Jayson E. Street, was once hired to attempt to compromise the computers and networks of a bank in Beirut. He succeeded in the compromise and found several exploits, but was soon shocked to discover he had just robbed/hacked the wrong bank.
Napoleon’s planned invasion of the United …
Napoleon’s planned invasion of the United Kingdom was financed by the Louisiana Purchase, with the US getting part of the money from a loan from a British Bank. So the UK was essentially funding an invasion of themselves.
Chase Bank and J.P. Morgan & Co…
Chase Bank and J.P. Morgan & Co helped Germany in WWII by allowing Nazi sympathizers to purchase Marks (known as Rückwanderer) with dollars to fund the war effort. The banks also turned over their client lists to the Nazis who in turn used it to recruit spies in the US.
The Russian Standard Bank was…
The Russian Standard Bank was founded by entrepreneur Roustam Tariko in the 90s to circumvent the advertisement ban of alcohol in Russia and promote his Vodka, the Russian Standard. Today, it is the largest consumer bank in Russia and Tariko is one of the most successful bankers in Europe.
The Knights Templar invented…
The Knights Templar invented international banking and payable checks.
The “Nobel Prize in Economics” isn’t…
The “Nobel Prize in Economics” isn’t a real Nobel Prize. It was established over 70 years after the death of Alfred Nobel, is sponsored by a bank and is officially only “in memory of Alfred Nobel”.