"If you go back to the time of J.P. Morgan, the world of high finance was completely wholesale. The prestigious investment banks on Wall Street appealed exclusively to large corporations, governments, and to extremely wealthy individuals"

This quote by Ron Chernow is referring to the time of J.P. Morgan, a popular figure in the world of high financing. During this time, the investment count on Wall Street were just available to large corporations, federal governments, and wealthy individuals. This indicated that the average individual had no access to the world of high financing, and the opportunities that featured it. This developed a divide in between the rich and the average person, as the wealthy had access to more resources and opportunities. This quote highlights the inequality that existed worldwide of high financing during this time, and how it was only available to those with the ways to do so.