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- In 1892, Morgan arranged the merger of Edison General Electric and Thomson-Houston Electric Company to form General Electric. He was instrumental in the creation of the United States Steel Corporation, International Harvester and AT&T. At the height of Morgan's career during the early 1900s, he and his partners had financial investments in many large corporations and had significant influence over the nation's high finance and United States Congress members. He directed the banking coalition that stopped the Panic of 1907. He was the leading financier of the Progressive Era, and his dedication to efficiency and modernization helped transform American business. Morgan has been described as America’s greatest banker.