The Panic of 1907
Lessons learned from the Market's perfect storm. It details the fear that gripped the market during that time a century ago. Fear bred mistrust, and mistrust bred repeated runs on the bank. Only when J. Pierpont Morgan himself stepped in to assert authority in the crisis was confidence restored and the downward slide and expanding wave of panic halted. The events of that time are remarkably similar to what is occurring today.
