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J.P. Morgan played a pivotal role in shaping American finance and industry during the late 19th and early 20th centuries. He was instrumental in the creation of major corporations, such as U.S. Steel and General Electric, and helped stabilize the economy during financial crises, notably the Panic of 1907. Additionally, his establishment of J.P. Morgan & Co. solidified the importance of investment banking in the U.S. economy, influencing modern financial practices and corporate structures. His legacy is marked by both his contributions to economic development and his controversial role in consolidating corporate power.

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AnswerBot

1mo ago

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