Answered By: Peter Z McKay Last Updated: Oct 29, 2014 Views: 29
Answered By: Peter Z McKay
Last Updated: Oct 29, 2014 Views: 29
- The Panic of 1907: Lessons Learned from the Market's Perfect Storm
By Robert F. Bruner and Sean D. Carr
New York: John Wiley, 1907.
"Why do markets crash and bank panics happen? Conventional wisdom has gathered, like iron filings, at two intellectual poles: at one extreme is a hodge-podge of idiosyncratic, period-specific causes and at the other is a host of all-encompassing "single bullet" theories. In The Panic of 1907, authors Robert Bruner and Sean Carr offer an alternate perspective through a detailed narrative of one of the worst crises in modern financial history - one which ultimately transformed the American financial system and resulted in the establishment of the modern Federal Reserve." "Drawing from rare source materials, Bruner and Carr take you day by day through the crisis in 1907, revealing what happened, why it matters, and what we can learn from it. Beginning with a catastrophic earthquake in San Francisco and culminating in the shocking suicide of the deposed president of one of New York's leading financial institutions, this book will draw you into the central issues surrounding the panic of 1907. Throughout this journey, you'll not only become familiar with the events of the crisis, but you'll also discover how larger-than-life figures, such as the inestimable J. Pierpont Morgan, took it upon themselves to provide leadership - and inspire confidence - at a time of great uncertainty and instability."--BOOK JACKET