What was the dark history of J.P. Morgan?
The Dark History of J.P. Morgan Introduction J.P. Morgan, one of the most powerful banking institutions in the world, has shaped the American and global financial system for more than a century. Founded by John Pierpont Morgan in the late 19th century, the bank became a cornerstone of capitalism and corporate finance. While J.P. Morgan is often celebrated for its role in stabilizing markets and funding large-scale industrial growth, its history also includes episodes of controversy, exploitation, and manipulation. From monopolistic practices to political influence and wartime profiteering, the bank’s past is layered with events that raise serious ethical questions. The Rise of John Pierpont Morgan John Pierpont Morgan was born in 1837 into a wealthy banking family. After working in London and New York, he quickly became a dominant force in American finance. By the late 1800s, Morgan was orchestrating massive mergers and consolidations, creating corporate giants like U.S. Steel an...