| |  | Books : The Panic of 1907: Lessons Learned from the Market's Perfect Storm |  | | | | | | | | | |
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Binding: Hardcover
Dewey Decimal Number: 330.9730911
EAN: 9780470152638
ISBN: 047015263X
Label: Wiley
Manufacturer: Wiley
Number Of Items: 1
Number Of Pages: 272
Publication Date: August 31, 2007
Publisher: Wiley
Sales Rank: 2591
Studio: Wiley
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Editorial Review:
Product Description:
'Before reading The Panic of 1907, the year 1907 seemed like a long time ago and a different world. The authors, however, bring this story alive in a fast-moving book, and the reader sees how events of that time are very relevant for today's financial world. In spite of all of our advances, including a stronger monetary system and modern tools for managing risk, Bruner and Carr help us understand that we are not immune to a future crisis.'
—Dwight B. Crane, Baker Foundation Professor, Harvard Business School
'Bruner and Carr provide a thorough, masterly, and highly readable account of the 1907 crisis and its management by the great private banker J. P. Morgan. Congress heeded the lessons of 1907, launching the Federal Reserve System in 1913 to prevent banking panics and foster financial stability. We still have financial problems. But because of 1907 and Morgan, a century later we have a respected central bank as well as greater confidence in our money and our banks than our great-grandparents had in theirs.'
—Richard Sylla, Henry Kaufman Professor of the History of Financial Institutions and Markets, and Professor of Economics, Stern School of Business, New York University
'A fascinating portrayal of the events and personalities of the crisis and panic of 1907. Lessons learned and parallels to the present have great relevance. Crises and panics are as much a part of our future as our past.'
—John Strangfeld, Vice Chairman, Prudential Financial
'Who would have thought that a hundred years after the Panic of 1907 so much remained to be written about it? Bruner and Carr break significant new ground because they are willing to do the heavy lifting of combing through massive archival material to identify and weave together important facts. Their book will be of interest not only to banking theorists and financial historians, but also to business school and economics students, for its rare ability to teach so clearly why and how a panic unfolds.'
—Charles Calomiris, Henry Kaufman Professor of Financial Institutions, Columbia University, Graduate School of Business
Customer Reviews Average Rating: 
Rating:  - Interesting perspective
While the book certainly has some weaknesses, it is still a remarkable and readable one, providing very interesting perspectives on credit crises.
Rating: - A Very Easy Read
Most people reading books on finance, particularly historical books, aren't really expecting something highly readable by a layman. That is where this book is quite surprising. It flows very nicely and quickly. It visualizes events of the day very well. To be clear, this book focuses quite closely on the events immediately preceeding, leading up to and mostly during the crisis in October-November 1907. Some discussion is done of the aftermath and results but it really focuses and puts you in the ... Read More
Rating:  - Helped Me Understand Today
This is a clear, concise book that gives an overview of the Banking Panic of 1907. The most useful part of the book for me was the glossary as the authors define such words as "bank panic", "stock market crash", and so on. We hear these words every day, but never have a clear definition of them. The Panic of 1907 seems very similar to what is happening in the credit crisis and money market/hedge fund panics of today, except they are on a more global scale. My one complaint is the book was too short ... Read More
Rating: - A vivid history and critique of the 1907 financial crisis
If you compare the 1907 crisis that struck U.S. and European financial institutions with 2008's economic emergencies, you will discover striking similarities. (In fact, the uncanny parallels have made this fascinating book a bestseller.) Strong interconnectivity between financial firms meant that trouble at one migrated to others. Both crises involved serious credit and liquidity concerns. Both provoked populist attacks against Wall Street. In part, the trusts hit trouble in 1907 because of insufficient ... Read More
Rating: - The more things change, the more they remain the same
Financial history is fascinating precisely because it documents simularities with the present, even while the products or organizational mechanisms of the time are different; this book is great for this moment of credit contraction and fear in the 21st century, a hundred years after the documented events.
Reading about JP Morgan (the person) meeting with the various bank and trust company heads, and bringing in Teddy Roosevelt as he felt relevant, reminded me both of the behind-doors funding ... Read More
The Panic of 1907: Lessons Learned from the Market's Perfect Storm | | | |
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