Why was JP Morgan important?

Answer 1

J.P. Morgan was a pivotal figure in American finance and industry during the late 19th and early 20th centuries. He played a crucial role in the consolidation of industries, helping to form major corporations like U.S. Steel and General Electric, which shaped the modern economy. Additionally, Morgan was instrumental in stabilizing financial markets during economic crises, notably orchestrating the bailout of the U.S. economy during the Panic of 1907. His influence extended beyond banking, as he helped establish the foundations for modern investment banking and corporate finance.