J. P. Morgan

• Report rights infringement
• published: 23 Jul 2014
• views: 491

John Pierpont "J. P." Morgan (April 17, 1837 -- March 31, 1913) was an American financier, banker, philanthropist and art collector who dominated corporate finance and industrial consolidation during his time. In 1892, Morgan arranged the merger of Edison General Electric and Thomson-Houston Electric Company to form General Electric. After financing the creation of the Federal Steel Company, he merged it in 1901 with the Carnegie Steel Company and several other steel and iron businesses, including Consolidated Steel and Wire Company, owned by William Edenborn, to form the United States Steel Corporation. At the height of Morgan's career during the early 1900s, he and his partners had financial investments in many large corporations and had significant influence over the nation's high finance and United States Congress members. He directed the banking coalition that stopped the Panic of 1907. He was the leading financier of the Progressive Era, and his dedication to efficiency and modernization helped transform American business. This video is targeted to blind users. Attribution: Article text available under CC-BY-SA Creative Commons image source in video