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Comment by stopGOVTwaste on December 11, 2011 at 2:34pm

the 'Halls' were the carbines that built JP Morgan's fortune.

He was a relatively young man in NYC in 1861 but had his eye out for the "main chance."

He discovered that the US Gov't was selling a batch of Hall carbines for scrap to clear out the warehouses for the new weapons for the War of the Rebellion.

He hocked everything he had, borrowed to the hilt, and bought this scrap metal at pennies per pound with some of the cash. He then took the rest and bribed a gov't official to purchase these "war-expedient" carbines for some 10-12 dollars each. He got about 1000 percent profit on the deal.

That quick flip of the firearms got him his stake to play in the NY Stock Exchange and the rest is history.

http://iheartwallstreet.com/2011/11/28/even-john-pierpont-morgan-wo...

Comment by stopGOVTwaste on December 11, 2011 at 2:27pm

yeah... something a while back happened between JPM and the US Govt (supposedly its being chalked up to 'folklore') but JP purchased defective armaments from the Govt then sold them back as operational. was called the Hall-Carbine affair. 

Things that make you go Hmmmmm

Comment by gregory on December 10, 2011 at 8:50pm