Why was JP Morgan a bad guy?

Answer 1

J.P. Morgan is often criticized for his role in consolidating industries and exerting immense financial power during the late 19th and early 20th centuries, which some argue stifled competition and contributed to economic inequality. He played a key role in creating monopolies, such as U.S. Steel and General Electric, leading to concerns about corporate influence over politics and the economy. Additionally, his involvement in the Panic of 1907 raised questions about the ethical implications of his actions in stabilizing the banking system while benefiting his own interests. These factors contribute to his reputation as a controversial figure in American history.