What did J.P.Morgan receive in return for his actions in the Panic of 1907?
A) A firm rebuke from President Roosevelt for interfering in government affairs
B) The tacit approval of President Roosevelt for U.S.Steel's acquisition of Tennessee Coal and Iron
C) The promise of antitrust proceedings if he went forward with the purchase of Tennessee Coal and Iron
D) The chairmanship of the Federal Reserve Board for the remainder of Roosevelt's administration

Question

Quizplus · Accepted Answer

J.P. Morgan received the tacit approval of President Roosevelt for U.S.Steel's acquisition of Tennessee Coal and Iron in return for his actions in the Panic of 1907.

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