1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
8_murik_8 [283]
3 years ago
8

What happened as a result of J.P. Morgan’s work in the financial industry

History
2 answers:
PIT_PIT [208]3 years ago
6 0

Answer:

He saved the American Economy and led to the establishment of the Federal Reserve.

Explanation:

JP Morgan was a businessman with contacts and investments in many different industries. These contacts, and his wealth, allowed him to wield huge control over the financial industry. This resulted in two big events. Firstly, there was the Gold Crisis of 1895. The US Treasury nearly ran out of gold and Morgan persuaded the president to use an old law to buy gold off him (And the rockefellers). This stabalised the American Dollar and averted crisis. A similar thing happened in 1907. Major New York banks were on the verge of collapse and Morgan held a meeting at his mansion where he forced the New York finaciers to come up with a plan. This they diid and the federal government saved the banks. Morgan also used his controlling interest in US Steel to buy the stock of a competitor whos stock was casuing a brokerage firm to collapse. Despite the anti trust legislation he purchased the stock, This restored confidence in the banking system and ensured the crisis was over.

More importantly, the event made the government realise that they couldnt rely on there always being a wealthy indiividual like Morgan to save the day should there be another crisis. This lead to the creation of the Federal Reserve System in 1913. This was a joint effort of a team of banking and political leaders, led by Senator Nelson Aldrich.

gregori [183]3 years ago
6 0

Further explanation

JPMorgan is one of the world's leading financial research bodies. The name JPMorgan itself is of course taken from the founder of the company itself JPMorgan, who was born on April 17, 1837, in Hartford, Connecticut. JPMorgan later became one of the most famous investors in business history. Morgan started his own private banking company, which became known as JPMorgan & Co., one of the world's recognized research institutions.

JPMorgan Chase & Co. is a global securities, investment banking and retail banking firm from the United States. The largest bank in the United States has assets of US $ 2,424 trillion and branches in more than 100 countries in the world.

JP Morgan Chase has its headquarters in New York. This banking institution has operated in the Asia Pacific from 1872. Besides Indonesia, JP Morgan has also been present in 16 other countries throughout the Asia Pacific.

The government through the Ministry of Finance (MoF) decided to terminate all partnership relations with JP Morgan Chase Bank NA, which is the JP Morgan Chase & Co Banking division that manages private assets and private wealth.

JP Morgan Chase is again fraud or unlawful acts can occur anywhere, not only in developing or underdeveloped countries. Fraud can occur in developed countries like the United States and is carried out by large companies such as JP Morgan Chase.

Learn  More

JP Morgan : brainly.com/question/13441960

Details

Class: middle school

Subject: history

Keywords : JP Morgan, Bank, financial

You might be interested in
Why was Marcus gravey a controversial figure?
ANTONII [103]

Marcus Garvey a controversial figure through a lifetime of events

3 0
3 years ago
Who was the Russian 12 year old boy who later designed and built a helicopter based on Da Vinci's notebook?
andreev551 [17]

Answer:

igor  sikorsky

Explanation:

4 0
3 years ago
Read 2 more answers
Help pls! read this excerpt from the us constitution
mario62 [17]

Answer:“All legislative Powers herein granted shall be vested in a Congress of the United States, which shall consist of a Senate and a House of Representatives.”

7 0
3 years ago
PLEASE NEED HELP NOW!!!!
azamat

Answer:

You were either a free man, a foreigner, or a slave. Athenian society was ultimately divided into four main social classes: the upper class; the metics, or middle class; the lower class, or freedmen; and the slave class. The upper class consisted of those born to Athenian parents. Hope this helps!!!

8 0
2 years ago
SOMEBODY HELP WITH QUESTION 9
ira [324]

Answer:

The answer is A, communicate with the public

Explanation:

Elected office holders use mass media to communicate with the public.

6 0
3 years ago
Read 2 more answers
Other questions:
  • What is the difference between urbanization and industrialization
    14·1 answer
  • Geologic maps are most recognized by their _____.
    5·1 answer
  • What economic factors and conditions made the american economy appear prosperous in the 1920s?
    7·1 answer
  • What is the historical context for the Cold War after World War 2?
    13·1 answer
  • During the French Revolution of 1830, liberals were supporters of the ______________.
    7·1 answer
  • How are religion and culture connected?
    7·1 answer
  • Virginia was founded by ?
    12·1 answer
  • A place in iceland that became first in GPI back then
    6·1 answer
  • Which question would be MOST helpful when trying to identify the theme of a poem?
    5·1 answer
  • This excerpt The Hiding Place describes:
    9·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!