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Trivia Question

The House of Morgan: An American Banking Dynasty and the Rise of Modern Finance

Ferdinand Pecora shocked the public when he revealed in congressional hearings that Jack Morgan had paid no income taxes for 1930, 1931, and 1932, and all twenty Morgan partners paid nothing for 1931 and 1932. (Jack had paid taxes in England for those years.) In reality, Jack and most of the partners hadn't broken the law, but taken write-offs from stock losses.




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