Bank Panic of 1907: Causes, Effects, and Importance
Bank Panic of 1907: Causes, Effects, and Importance
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1907 (took me 17 minutes to write this out) Biggest bank panic in decades hits. (they had state banks) Major banks on brink of collapse. J.P. Morgan steps in to save the economy. Bails out Wall Street for $900m, in today’s money. Then… the ominous meeting. (confirmed real in 1921) Traveling under fake names. Supposed to be on a “duck hunt” From a private train cab. Headed to JP Morgan’s private resort. 8 of the worlds wealthiest & most powerful Rockefeller. Rothschilds. Morgan. All had represent
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