Morgan went to New York banks and compelled them to dip into their reserves to offer loans that would allow stockholders to cover their margins and begin buying again.
Morgan ruined the economy by compelling banks to dip into their reserves.
mnli hypothesis: Morgan ruined the economy by compelling banks to dip into their reserves. premise: Morgan went to New York banks and compelled them to dip into their reserves to offer loans that would allow stockholders to cover their margins and begin buying again.