Short description
An inside look at the financial crisis of 1907 - what happened, why it mattered, and what we've learned. Through engaging narrative, this title leads readers day by day through the critical events of the panic. It highlights the leadership role of the larger than life financier J Pierpont Morgan.
Long description
This is an inside look at the financial crisis of 1907 - what happened, why it mattered, and what we've learned. The Panic of 1907 tells the dramatic story of one of the worst financial panics in modern history, drawing fascinating parallels to market conditions today. Through a detailed and engaging narrative, the authors lead readers day by day through the most critical events of the panic. Beginning with the dramatic suicide of Charles T. Barney, the deposed president of the Knickerbocker Trust Company the first major financial institution to collapse and ending with the establishment of the Federal Reserve System, the story highlights the leadership role of the larger than life financier J. Pierpont Morgan. With this book as their guide, readers will take away important insights from the panic of 1907, developing a deeper understanding of financial markets and the factors that affect them. Robert F. Bruner (Charlottesville, VA) is the Dean of the Darden Graduate School of Business Administration and Charles C. Abbott Professor of Business Administration at the University of Virginia. He is also the author of several books, including Applied Mergers and Acquisitions (0 471 39506 4) and Deals from Hell (0 471 39595 1). Sean D. Carr (Charlottesville, VA) is the Director of Corporate Innovation Programs at the Batten Institute, University of Virginia.
Review
...great academic study, which was meant to be a warning. It reads like a description of what has just happened. (Financial Times, 18th August 2007) A dull textbook it's not: Most chapters amount to six or seven pages of storytelling with cliffhangers... entertaining read... (Bloomberg News, Friday 24th August 2007) ...the definitive guide to the stock market panic of '07 (The Times, Thursday 13th September 2007) Well worth reading (The Business, Saturday 15th September 2007) With this book as their guide, readers will take away important insights...developing a deeper understanding of financial markets (What Investment?, November 2007)
Table of contents
- Acknowledgments.Prologue.Introduction.Chapter 1. Wall Street Oligarchs.Chapter 2. A Shock to the System.Chapter 3. The Silent Crash.Chapter 4. Credit Anorexia.Chapter 5. Copper King.Chapter 6. The Corner and the Squeeze.Chapter 7. Falling Dominoes.Chapter 8. Clearing House.Chapter 9. Knickerbocker.Chapter 10. A Vote of No Confidence.Chapter 11. A Classic Run.Chapter 12. Such Assistance As May Be Necessary.Chapter 13. Trust Company of America.Chapter 14. Crisis on the Exchange.Chapter 15
- A City in Trouble.Chapter 16. A Delirium of Excitement.Chapter 17. Modern Medici.Chapter 18. Instant and Far-Reaching Relief.Chapter 19. Turning the Corner.Chapter 20. Ripple Effects.Lessons. Financial Crises as a Perfect Storm.Appendix A. Key Figures After the Panic.Appendix B. Key Definitions.References.Notes.About the Authors.Index.