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Even though he fought to help workers who have bad working conditions, he treated his own workers poorly. He bought a castle and steel. Started charities, foundations The Carnegie Foundation, and museums. He gave away most of his money just before he died. J.P. Morgan did not treat workers well overall being the direct cause of falling wages and lack of regard for the health and safety of the work forces of his many companies, especially steel workers and miners, many of whom died while working at his facilities.

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In 1907, another panic struck. A attempt to bid up United Copper stock and extort short-sellers caused the share price to collapse, followed by the collapse of a Montana bank. The contagion spread, and bank runs in New York threatened to compromise the entire financial system. Morgan steered the country away from the precipice, telling the Associated Press he would pledge half of his money to keep the banks solvent and locking 120 financial industry leaders in his library until they worked out a solution.

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This article tells the life of JP Morgan
By Abigail Tucker

Smithsonian Magazine
January 2011

In January 1903, Morgan, 65, was at the height of his power, a steel, railroad and electrical-power mogul. influential enough to direct huge segments of the American economy. Steichen, 23, an immigrant with an eighth-grade education, was working furiously to establish a place in fine-art photography, which was itself struggling to be taken seriously.

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One of the most powerful bankers of his era, J.P.  Morgan  financed railroads and helped organize U.S. Steel, General Electric and other major corporations. Morgan used his influence to help stabilize American financial markets during several economic crises, including the panic of 1907. His only fail was with his banking company which was perceived to be to big and to profitable and has been said that it will eventually fail.

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J.P. Morgan is a leader in asset management, investment banking, private banking, treasury and securities services, and commercial banking. J.P. Morgan's core businesses include: Asset Management. Corporate & Investment Bank. In 1987, J.P. Morgan & Co. led the country’s first two matador bond issues, foreign bonds issued in Spain by a non-Spanish company. Three years later, J.P. Morgan launched a 10 billion peseta bond issue for the Kingdom of Denmark. This was the first time a debt issue was brought to market in Spain for a foreign sovereign government.

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In 1885, Morgan began investing in the railroad industry, where it  had been gutted by price wars. In 1890 his father died, it quadruple his wealth and giving him control of J.S. Morgan & Co.
Morgan's personal wealth was huge and during his life he used many portions of his wealth in the helping of many people. He donated to charities, churches, hospitals, and schools. He also bought a huge collection of art. When he died in 1913, much of his collection went to the Metropolitan Museum of Art.

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Morgan got a full education in high school then took a one year break because of his health. After he went on to Cheshire Academy and graduated from University of Gottingen in Switzerland.  He attained a passable level of German within six months and also a degree in art history, then traveled back to London via Wiesbaden, with his formal education complete

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The Morgan family originated in Wales during the 17th century. Born in Llandaff, Glamorgan County, Miles Morgan was the son of William Morgan. At the age of 20, Miles sailed for America, along with his brothers, John and James, seeking new opportunities in the New World. Morgan members were notable for dominating the banking industry during their time. J.P. Morgan was the de facto leader of this dynasty, having been the most prominent businessman in America at the turn of the century.