Pierpont Morgan's Intervention and Legacy

John Pierpont Morgan's intervention during the panic of 1873 helped save the market and led him to become the nation's most trusted banker. His career brought monumental change to the financial sector, leading to the creation of the modern American banking system, including the Federal Reserve. The institution known as JP Morgan Chase and Company, a result of his legacy, is the largest investment bank in the United States with over three and a half trillion dollars in assets, and was the highest grossing investment bank in the world in 2021 and 2022.