Posts Tagged ‘banking panics’

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    October Stock Markets

    Oct 11, 11 • 104 Views • Businesses, Economic History, Financial Markets, Macroeconomic Measurement, Money and Monetary Policy, RegulationNo Comments

    During October 1907, when the stock market crashed and the banking system panicked, we had no central monetary authority. We just had J.P. Morgan. “Why don’t you tell them what to do, Mr. Morgan? (Belle da Costa Greene, J.P. Morgan’s...

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    The Banking Pendulum

    Mar 4, 10 • 87 Views • Thinking EconomicallyNo Comments

    As George Bailey in “It’s a Wonderful Life,” Jimmy Stewart faces a bank run.  On his wedding day, hoping to save his bank, George first gives out the bank’s cash and then his honeymoon money to a long, agitated line of panicked...