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from OCCUPY WALL STREET SPECIAL

The Financial Panic of 1907: Running from History

Financial Panic of 1907

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The Panic of 1907: Lessons Learned from the Market's Perfect Storm by Robert F. Bruner. Great book, great Audible version. Read the last parts first. http://www.amazon.com/dp/0470452587/ref=cm_sw_r_pi_dp_8Koxrb0N21RAT

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The Panic of 1907: Lessons Learned from the Market's Perfect Storm (Paperback)

The Panic of 1907: Lessons Learned from the Market's Perfect

Wow. Who missed the TITANIC? J. Pierpont Morgan: The legendary 74-year-old financier, nicknamed the “Napoleon of Wall Street,” had helped create General Electric and U.S. Steel and was credited with almost singlehandedly saving the U.S. banking system during the Panic of 1907. “Monetary losses amount to nothing in life,” he told a visiting New York Times reporter days after the sinking. “It is the loss of life that counts. It is that frightful death.”

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"Wall Street is the only place that people ride to work in a Rolls Royce to get advice from those who take the subway." — Warren Buffett (1930- ) Quoted by Egbert Sukop in The Money Adventure (1998) — Image: [Or drive a Lozier to work and get advice from trolley dodgers] Crowds at Federal Hall on Wall Street during the Panic of 1907 (October 1907) — #WallStreet #financing #money #investment #WarrenBuffett #quoteoftheday

Can we learn about future financial crises from those of the past? Our researchers consider economic models to compare the recession of 2008 to the panics of 1873 and 1884, the Barings Crisis of 1890, the subsequent panics of 1893 and 1896, the panic of 1907, and the real estate crash of 1921.