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
PART A: One of the direct results of the decision to drop
Delvig [45]

Answer:

A President Truman learned of the success of the Manhattan Project

Explanation:

American President Harry Truman made the decision to use the devastating atomic bomb on Japan as a direct response to the Pear Harbor attack on American soil.

The direct result of this was that the Japanese gave their unconditional surrender and the war was ended.

However, the indirect result of the decision to drop the atomic bomb was that President Truman learned of the success of the Manhattan project which was the atomic bomb.

8 0
3 years ago
Based on the map, which of the following is a reasonable conclusion?
alexandr1967 [171]

Answer

Europeans who colonized North Africa shared power with local people

7 0
2 years ago
Read 2 more answers
On what platform did republican richard nixon run for office ?
Sveta_85 [38]

The correct answers on Edgen are:

(1.) restoration of law and order

(3.) withdrawal of US forces from Vietnam

I just answered the question and these are right.

7 0
3 years ago
Read 2 more answers
What did John Adams think about Washington's Proclamation on no<br> war?
salantis [7]

Answer:

John Adam's thought otherwise. During his retirement years, he was a consequence of the American Revolution. The real revolution, he declared, had taken place in the minds and hearts of the colonists in the fifteen years prior to 1776

3 0
2 years ago
Which statement accurately analyzes how federalism changed over time in the united states
Taya2010 [7]

The correct answer would be the choice A


4 0
3 years ago
Other questions:
  • USING COMPLETE SENTENCES:
    13·1 answer
  • What nazi called the final solution was actually called the jewish people
    10·1 answer
  • The highest court in the state Florida is the Florida Supreme court U.S Supreme court U.S County court Florida County court
    14·2 answers
  • You will be rewarded Brainliest. I'm a K12 student.
    10·1 answer
  • How did the cotton gin affect plantation owners?
    6·2 answers
  • which type of government does the passage best describes A country is lead by one leader.The leader's decisions cannot be questi
    8·1 answer
  • You work in a garage, changing oil in cars. Your boss asks you to determine how many fluid ounces of oil you have on hand. The c
    8·1 answer
  • How did the Lewis and Clark Expedition affect the frontier in the early 1800s?
    8·2 answers
  • TRUE OR FALSE: The parliament is not elected
    15·1 answer
  • In Vedic society the people who cleaned the streets and picked up trash were
    11·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!