The Panic of 1907

'For the past two centuries recurrent crises have shaken the banking system and financial markets in the United States. One severe crises, the Bank Panic of 1907, disrupted financial markets to such an extent that it became and important catalyst for creating the Federal Reserve and the U.S. banking system as it operates today [...]' 

Click and Read: Lessons from The Panic of 1907 (Federal Reserve Bank of Atlanta, 1990)

Flag draped Wall Street with Trinity Church in the distance (Andy Kingsbury / Corbis)

                                              
More Information: Video - John Pierpont Morgan    

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