by francopoli

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.

The panic of 1907 is also an interesting read. Morgan, at one point, owned close to 1/12 of all the wealth in the US before his companies were broken up.