d neither did the small companies that had to compete with it. As a result the government busted many of his railway, steel, and electrical companies up in order to stop monopolies, in spite of all of Morgans pervious efforts to save the American economy. (4) Many critics knew J. P. as a Robber Barron, a man who was depicted as a ruthless predator, who care nothing for whatever stood in his way, and to a certain extent that is true. (4) J. P. Morgan was a witty businessman and knew what it took to succeed, even if it meant running your neighbor out of business, or buying him out. He was involved in many scandalous events that were covered up by the fact that it seemed as though he was being a Good Samaritan. Morgan was being a philanthropist with benefits, meaning that he would bail certain businesses out of trouble but only to gain partnerships and/or stock holdings, he even bailed out the U.S. government and Wall Street when they were in a state of crisis. Morgans first scandal small, starting with a harmless act on the U.S. monetary system. He and Edward Ketchum, a collogue at the time, began to quietly buy gold in minute amounts, after they both had amassed a sum to their likings they sold a portion of it abroad to lift the price of the gold in America, and then they sold the remaining amount at $160,000 profit between them. Although the scheme was legal and witty, it didnt pass over well with J. P.s father and he put his son back on the straight and narrow making him find a more suitable business partner. (2) But this didnt deter Morgan, he had plenty of tricks up his sleeve, he had enough intelligence to make him a rich and loved man, a man loved by all who knew not what he was. His two greatest scandals that put him in the history books as one of the greatest figures in American history for his leadership and patronage during his countries time of need were the panics of 1893 and 1907. In both cases Morgan headed a group...
