J.P. Morgan: The Banker Who Saved America (Nineteenth and Twentieth Centuries)

Mehmet Baha Karan (), Wim Westerman () and Jacob Wijngaard ()
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Mehmet Baha Karan: Hacettepe University
Wim Westerman: University of Groningen
Jacob Wijngaard: University of Groningen

Chapter Chapter 7 in A History of Banks, 2024, pp 199-231 from Springer

Abstract: Abstract With his British roots and even having worked as a banker in London and with a strong personality, the ‘Gilded Age’ industrialist (cf. U.S. Steel) and banking tycoon John Pierpont (J.P.) Morgan was an ideal person to ‘save America’ during banking crises in 1895 and especially 1907, using forceful negotiation tactics. He was also said to be a prime moulder of the U.S. Federal Reserve System ‘Fed’ as a sort of central bank. J.P. Morgan’s bank survived its leader, carve outs, crises as well as a merger into JPMorgan Chase.

Date: 2024
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DOI: 10.1007/978-3-031-62297-7_7

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