The Panic of 1907 - How JP Morgan Saved the US Economy.

The Panic of 1907 was a six-week stretch of bank runs in October and early November of 1907, where the stock market crashed, the city ran out of money and numerous banks and brokerage firms went bankrupt. The event was triggered by an earthquake a year earlier in San Francisco and a failed short squeeze in United Copper stock by Fritz Augustus Heinze and Charles W Morse. J. Pierpont Morgan famously took action to bring the business community together to save the US economy from collapse.  The panic of 1907 was the crisis led to the creation of the Federal Reserve System.Books Mentioned in This Video:The Panic of 1907: https://amzn.to/47LMya4Manias, Panics & Crashes: https://amzn.to/45lGVxzAmerica's Bank: https://amzn.to/3OPVlzhPatrick's Books:Statistics For The Trading Floor:  https://amzn.to/3eerLA0Derivatives For The Trading Floor:  https://amzn.to/3cjsyPFCorporate Finance:  https://amzn.to/3fn3rvCPatreon Page: https://www.patreon.com/PatrickBoyleOnFinanceBuy Me a Coffee: https://buymeacoffee.com/patrickboyleVisit our website: www.onfinance.orgFollow Patrick on Twitter Here: https://twitter.com/PatrickEBoylePatrick Boyle YouTube Channel Support the Show.