Which American financier sold defective guns to soldiers and won the court case as well?

He was dubbed as America's greatest banker for helping in modernizing American business

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Taylor avatar
1 month ago #2
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None other than the infamous J.P. Morgan who escaped military service by paying $300 for a substitute. Mr. Morgan then went on to purchase 5,000 rifles at $3.50 each and sold them at $22.50 apiece. Nice profit. However, the rifles were defective and often shot off the thumbs of the soldiers firing them.

A Congressional Committee later noted the above, but a Federal judge upheld Morgan's rifle deal and he was completely exonerated.

Marra M avatar
1 month ago #3
Marra M
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Correct, Taylor good job

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