John Pierpont Morgan: Robber Baron?

Were J.P. Morgan's business actions a determinent to the U.S. economy. After reorganizing a number of key industries of the time to create a monopolies in those areas, did this have a tanigble adverse effect on the average American? On top of this, do he actions in regard with the Panics of 1893 and 1907 allow him to be regarded as not just another robber baron? 

Credits

Toby Nash