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In this conversation with Gerard Helferich, author of An Unlikely Trust, we explore the high-stakes relationship between President Theodore Roosevelt and financier J.P. Morgan. One was the most powerful man in America. The other ruled Wall Street. What happened when their worlds collided?

Helferich breaks down how a moral crusader and a financial titan, two men with fundamentally different values, managed to put aside their differences to save the American economy from collapse. Their collaboration during a time of financial panic was not just unlikely, it was essential.

We dive into how their uneasy alliance reshaped the balance between government and big business, and what their story reveals about duty, leadership, and how power can be used in moments of national crisis.

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Chapters:

(00:00) Intro

(01:40) Similarities between Roosevelt and J.P. Morgan

(12:00) The genius of Roosevelt

(16:15) Roosevelt attacks J.P. Morgan railroad company

(20:07) The 1902 coal strike, their first collaboration

(36:15) The panic of 1907 – when J.P. Morgan saved America

(49:15) The powerful personality of J.P. Morgan

(55:30) They covered each other’s weaknesses

(57:48) Misconceptions about Roosevelt and J.P.