The Panic of 1907; Lessons Learned from the Market's Perfect Storm
Hoboken, NJ: John Wiley & Sons, Inc., 2007. Later printing. Hardcover. xiii, [1], 258 pages. Illustrations. Occasional footnotes. Appendix A: Key Figures after the Panic. Appendix B: Definitions. References. Notes. Index. Robert F. Bruner is University Professor at the University of Virginia, Distinguished Professor of Business Administration, and Dean Emeritus of the Darden School of Business. He has won numerous teaching awards. As a financial economist, Bruner is best known for his research on mergers and acquisitions, corporate finance and financial panics. His books include Deals from Hell, Applied Mergers and Acquisitions and The Panic of 1907: Lessons Learned from the Market’s Perfect Storm. The last title, co-authored with Sean D.Carr, was published in 2007 and attracted attention for its discussion of the underpinnings of financial crises. Over a dozen index entries under Theodore Roosevelt. The Panic of 1907 – also known as the Knickerbocker Crisis – was a financial crisis that took place over a three-week period starting in mid-October, when the New York Stock Exchange fell almost 50% from its peak the previous year. The 1907 panic eventually spread throughout the nation when many state and local banks and businesses entered bankruptcy. Primary causes included a retraction of market liquidity by a number of banks and a loss of confidence among depositors. The panic was triggered by the failed attempt in October 1907 to corner the market on stock of the United Copper Company. When this bid failed, banks that had lent money to the cornering scheme suffered runs that later spread to affiliated banks and trusts, leading a week later to the downfall of the Knickerbocker Trust Company—New York City's third-largest trust. The collapse of the Knickerbocker spread fear throughout the city's trusts as regional banks withdrew reserves from New York City banks. Condition: Very good / Very good.
Keywords: Theodore Roosevelt, Panic of 1907, Financial Crisis, Knickerbocker Crisis, New York Stock Exchange, George Cortelyou, Amalgamated Copper, United Copper, Knickerbocker Trust, Fritz Heinze, J. Pierpont Morgan
ISBN: 9780470152638
[Book #75685]
Price: $25.00