J.P. Morgan Firm Gave Stock Discounts to Politicians
During a period before the SEC existed, the J.P. Morgan firm, effectively run by Thomas Lamont, provided shares in companies at discounts. These discounts were given not only to favored clients but also to politicians and other individuals. This practice was considered legal at the time, though it would be viewed differently today. Charles Mitchell is noted as a figure in the book discussed.
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Sources · 7 independent
C-SPAN Radio
“They were effectively giving out shares in companies at discounts, not just to their favorite clients, but to favorite politicians, to all sorts of people back then.”
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