The Panic of 1907 (eBook)

ROBERT F. BRUNER is the Dean of the Darden Graduate School of Business Administration and Charles C. Abbott Professor of Business Administration at the University of Virginia. He is the author or coauthor of more than 400 case studies and notes as well as the author of two other Wiley titles, Applied Mergers and Acquisitions and Deals from Hell. Bruner has served as a consultant to over twenty corporations and the U.S. government and, prior to his academic career, worked as a commercial banker and venture capitalist. He holds a BA from Yale University, and an MBA and DBA from Harvard University. SEAN D. CARR is the Director of Corporate Innovation Programs at the Darden School's Batten Institute, University of Virginia. Previously, Carr spent a decade as a journalist, having served as a producer for both CNN and ABC News's World News Tonight with Peter Jennings.

Foreword: Within a Fraction of Disaster vii

Acknowledgments xiii

Prologue xv

Introduction 1

Chapter 1 Wall Street Oligarchs 7

Chapter 2 A Shock to the System 13

Chapter 3 The "Silent" Crash 19

Chapter 4 Credit Anorexia 29

Chapter 5 Copper King 37

Chapter 6 The Corner and the Squeeze 43

Chapter 7 Falling Dominoes 51

Chapter 8 Clearing House 57

Chapter 9 Knickerbocker 65

Chapter 10 A Vote of No Confidence 71

Chapter 11 A Classic Run 77

Chapter 12 Such Assistance as May Be Necessary 83

Chapter 13 Trust Company of America 89

Chapter 14 Crisis on the Exchange 97

Chapter 15 A City in Trouble 105

Chapter 16 A Delirium of Excitement 115

Chapter 17 Modern Medici 121

Chapter 18 Instant and Far-Reaching Relief 127

Chapter 19 Turning the Corner 135

Chapter 20 Ripple Effects 141

Lessons Financial Crises as a Perfect Storm 151

Reflections on the Centennial: The Subprime Crisis Commencing in 2007 173

Appendix A: Key Figures after the Panic 189

Appendix B: Definitions 199

References 205

Notes 217

About the Authors 253

Index 255

"... Das eben erschienene, in einem leicht lesbaren Englisch verfasste Buch > erzahlt die damaligen Ereignisse im Stile eines Tagebuches. Die Leser erleben mit, wie sich unabhangige Vorgange wie das schreckliche Erdbeben von San Francisco im Jahre 1906, der Aktien- und Wirtschaftsboom jener Zeit, Fehlspekulationen einiger Grossinvestoren und ungenugende Transparenz und Regulierungen im Finanzbereich schliesslich zu einer schweren Vertrauenskrise in das Bankensystem verketteten...." (Tagesanzeiger Schweiz, 15.10.2007)