Everybody was buying stocks on 10% margins , they could not loose. The market was never intended to make the rubes money. They blow it up like a huge bubble. Just like last weeks idiot tax, the lottery. Everybody wants to play when the megamillions and poweriball is at 800 million or higher. When they suck enough money in, they collapse it and pull their money out. JP Morgan and John Jay were not financial geniuses, they were manipulators. They were legal fraudsters.