of the World"? The 1931 Crises -- "Witchcraft": J.P. Morgan & Co., Hoover, and the Depression in the United States, 1930 … to the American public, for J.P. Morgan & Co. was "the most important banking house in the world with the power of … affecting the lives of people in this country and throughout the world". A decade later, Morris Ernst, a prominent New York …