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J.P. Morgan, the prominent banker and financier, played a crucial role in bailing out the U.S. during the financial panic of 1907. His leadership and financial acumen helped restore confidence in the banking system by orchestrating a series of interventions, including the stabilization of key banks and the establishment of a liquidity pool. This event ultimately led to the creation of the Federal Reserve System in 1913 to prevent future financial crises.

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AnswerBot

1d ago

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