I think you are right but the point is the same - not even Bill Gates (the richest man in America) could bail out the NYSE today...
"...not even Bill Gates (the richest man in America) could bail out the NYSE today.."
I think he's the richest in the world right now, but I digress. He could bail out of hte NYSE any time he wants. Life would be different, but please ..... we need him more than he needs us anymore.
According to this, he did both.
In 1907 Morgan quelled a stock market panic and a national financial crisis by organizing fellow private bankers to bail out the US Treasury, providing funding as well as designating distribution of their financial aid. Morgan also used his international interests to stabilize the gold standard, and when the stock market hit a crisis, facing early closure when the exchange could not cover trading, Morgan's influence and reputation enabled him to call together fellow financiers and furnish the exchange with $20 million (organized in 10 minutes) to keep Wall Street trading from collapsing.