Theodore Roosevelt was the U.S. president when the 1907 financial panic led to a rescue organized by J. P. Morgan.
The Panic of 1907 erupted after a failed attempt to corner the stock of United Copper Company. The failure damaged confidence in trust companies and banks, leading to runs and a severe shortage of available credit.
J. P. Morgan helped coordinate emergency lending and persuaded bankers to support threatened institutions. The federal government also provided assistance, but the United States did not yet have a central bank capable of acting as a modern lender of last resort.
Roosevelt was president from 1901 to 1909, so the panic occurred during his second term. The crisis helped build support for financial reform and eventually contributed to the creation of the Federal Reserve System in 1913.