Theodore Roosevelt: Profiled People in Economics and Banking

ByPrimary Researcher

Executive Summary

  • Theodore Roosevelt was a populist, who was an agent for Morgan Bank.

Introduction

Roosevelt was a complex character who governed in a way that was positive for much of the population. However, he was controlled by JP Morgan private banking interests. After retiring from politics, he was brought out to run as an opposition candidate to split the vote against William Howard Taft by the Morgan bank in 1912 — just one year before the Federal Reserve Act of 1913 was passed. And this allowed private banking-supported candidate Woodrow Wilson to be elected president. Wilson signed the 1913 Federal Reserve Act into law. This reconstituted a private central bank that had its charter expire two times before.