Any Man Who Is A Bear

Attributed to Morgan around 1900, at the height of his influence over American railroads and finance. The remark expressed a conviction he held throughout his career — that the United States was fundamentally sound and that pessimists who bet against its long-term growth would be proved wrong. Morgan backed this view repeatedly with his own capital during financial panics, most famously during the Panic of 1907, when he personally organized the banking consortium that halted the crisis.