Which Wall Street financier organized a private rescue during the Panic of 1907?

J. P. Morgan organized a private rescue during the Panic of 1907.

The panic began after a failed attempt to corner the stock of United Copper Company caused runs on trust companies, especially the Knickerbocker Trust Company in New York. With no U.S. central bank operating at the time, the financial system lacked a public lender of last resort.

Morgan brought bankers and trust-company leaders together, examined institutions' books, and used his own funds and influence to arrange emergency financing. The Treasury also supplied money, and New York City obtained support to meet its obligations. The crisis eventually eased, but it demonstrated the dangers of relying on one private financier for systemic stability. The Federal Reserve System was created in 1913, partly in response to lessons from the panic.