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Panic of 1907. Wall Street during the bank panic in October 1907. Federal Hall National Memorial, with its statue of George Washington, is seen on the right. The Panic of 1907, also known as the 1907 Bankers' Panic or Knickerbocker Crisis, [1] was a financial crisis that took place in the United States over a three-week period starting in mid ...
J. P. Morgan. John Pierpont Morgan (April 17, 1837 – March 31, 1913) [1] was an American financier and investment banker who dominated corporate finance on Wall Street throughout the Gilded Age and Progressive Era. As the head of the banking firm that ultimately became known as J.P. Morgan and Co., he was a driving force behind the wave of ...
By 1900, J.P. Morgan was the most important investment banker in the United States and "the dominant figure in all the Drexel banks." [31] The Morgan interests were involved in many of the largest investment actions of the 1890s-1910s. The Morgan partners used their large social networks to create an ethos of expertise.
The 2007–2008 financial crisis is considered by many economists to be the worst financial crisis since the Great Depression of the 1930s. [44] It was triggered by a liquidity shortfall in the United States banking system [ 45 ] and has resulted in the collapse of large financial institutions, the bailout of banks by national governments, and ...
JPMorgan Chase & Co. (stylized as JPMorganChase) is an American multinational financial services firm headquartered in New York City and incorporated in Delaware. It is the largest bank in the United States and the world's largest bank by market capitalization as of 2023. [3][4] As the largest of the Big Four banks in America, the firm is ...
The Coal strike of 1902 (also known as the anthracite coal strike) [1][2] was a strike by the United Mine Workers of America in the anthracite coalfields of eastern Pennsylvania. Miners struck for higher wages, shorter workdays, and the recognition of their union. The strike threatened to shut down the winter fuel supply to major American cities.
During the banking panic of 1907, an ad hoc coalition assembled by J. P. Morgan successfully intervened in this way, thereby cutting off the panic, which was likely the reason why the depression that would normally have followed a banking panic did not happen this time. A call by some for a government version of this solution resulted in the ...
Headquarters of AIG, an insurance company rescued by the United States government during the subprime mortgage crisis "Too big to fail" (TBTF) is a theory in banking and finance that asserts that certain corporations, particularly financial institutions, are so large and so interconnected that their failure would be disastrous to the greater economic system, and therefore should be supported ...