J.P. Morgan John Pierpont Morgan is considered one of the founding fathers of the modern United States economy. Morgan was a banker, railroad czar, industrialist, financier, philanthropist, yachtsman, and ladies' man. The wealth of the Morgan family did not begin with Pierpont but with his grandfather Joseph Morgan. Joseph's first son was Junius Spencer Morgan, also destined for the life of a businessman. In 1864 Junius took over the Peabody Company and changed the name …showed first 75 words of 1492 total…

…showed last 75 words of 1492 total…eighteen financial institutions effectively controlled a two-thirds majority of the 1912 capital resources, over twenty five billion dollars. The lead attorney questioned J. P. Morgan about his actions in a famous cross-examination. Morgan was questioned on his supposed monopolies, earnings and business practices. The value of Morgan's organization of companies and funding is immeasurable, as these companies are some of today's leading corporations. Pierpont built America with more in mind than that of personal financial gain.