Which U.S. financier organized private support during the Panic of 1907?

J. P. Morgan organized private support during the Panic of 1907.

As banks and trust companies faced runs, Morgan used his influence, money, and information to coordinate emergency lending and mergers. He and other financiers met in New York to assess institutions and decide which could receive assistance. The effort helped prevent a wider collapse when no modern central bank existed in the United States.

The panic began after a failed attempt to corner the stock of United Copper Company. The resulting loss of confidence spread to banks connected with the speculators, and depositors began withdrawing funds. The Knickerbocker Trust Company failed, intensifying the crisis.

The episode exposed weaknesses in the U.S. financial system. The Aldrich–Vreeland Act followed in 1908, and the Federal Reserve System was created in 1913. Morgan's role was crucial, but the rescue depended on cooperation from banks, the Treasury, and other financiers rather than on one person's money alone.