Economic

The-Knickerbocker-Trust-Company-and-the-New-York-Bank-Panic-1907

The Knickerbocker Trust Company and the New York Bank Panic – 1907

The bank panic of 1907 demonstrates that crises in the banking system are nothing new. Once confidence is lost, panic spreads like a contagious disease. The Knickerbocker Trust Company was the third largest of the New York trust companies. The failure of such a prestigious financial institution inevitably caused the jitters to spread throughout the …

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