The Panic of 1907: Lessons Learned from the Market’s Perfect Storm.

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

The Panic of 1907: Lessons Learned from the Market’s Perfect Storm.

BRUNER, Robert F. and Sean D. Carr.

Item Number: 101731

New York: John Wiley & Son, 2007.

First edition of “the definitive guide to the stock market panic of 1907” (The Times). Octavo, original boards, illustrated. Presentation copy, inscribed opposite the title page, “Dear Hunter and Chris: Dear friends and neighbors, I wish you enlightenment from this tale and success in matters financial. Whatever happens in the markets, Don’t Panic! Robert F. Bruner.” Also signed by co-author Sean D. Carr. Fine in a fine dust jacket. Jacket design by Michael J. Freeland.

Why do markets crash and bank panics happen? Conventional wisdom has gathered, like iron filings, at two intellectual poles: at one extreme is a hodge-podge of idiosyncratic, period-specific causes and at the other is a host of all-encompassing "single bullet" theories. In The Panic of 1907, authors Robert Bruner and Sean Carr offer an alternate perspective through a detailed narrative of one of the worst crises in modern financial history--one which ultimately transformed the American financial system and resulted in the establishment of the modern Federal Reserve. Drawing from rare source materials, Bruner and Carr take you day by day through the crisis in 1907, revealing what happened, why it matters, and what we can learn from it. Beginning with a catastrophic earthquake in San Francisco and culminating in the shocking suicide of the deposed president of one of New York's leading financial institutions, this book will draw you into the central issues surrounding the panic of 1907. Throughout this journey, you'll not only become familiar with the events of the crisis, but you'll also discover how larger-than-life figures, such as the inestimable J. Pierpont Morgan, took it upon themselves to provide leadership--and inspire confidence--at a time of great uncertainty and instability. "A fascinating portrayal of the events and personalities of the crisis and panic of 1907. Lessons learned and parallels to the present have great relevance. Crises and panics are as much a part of our future as our past" (John Strangfeld).

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