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Wow. Who missed the TITANIC? J. Pierpont Morgan: The legendary 74-year-old financier, nicknamed the “Napoleon of Wall Street,” had helped create General Electric and U.S. Steel and was credited with almost singlehandedly saving the U.S. banking system during the Panic of 1907. “Monetary losses amount to nothing in life,” he told a visiting New York Times reporter days after the sinking. “It is the loss of life that counts. It is that frightful death.”

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from OCCUPY WALL STREET SPECIAL

The Financial Panic of 1907: Running from History

Financial Panic of 1907: A six-week stretch of runs on banks in New York City and other American cities in October and early November of 1907. Triggered by a failed speculation that caused the bankruptcy of two brokerage firms. But the shock that set in motion the events to create the Panic was the earthquake in San Francisco in 1906. The devastation of that city drew gold out of the world’s major money centers. This created a liquidity crunch that created a recession starting in June of…

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The Panic of 1907: Lessons Learned from the Market's Perfect Storm by Robert F. Bruner, http://www.amazon.com/dp/0470452587/ref=cm_sw_r_pi_dp_A4Ukrb1JK6YS8

Riverside, CA- Associated Banks of Riverside $1; $5; $20 Nov. 25, 1907 Shafer CA-680-1b; 5b; 20b A Choice About Uncirculated, roulette cancelled trio from the Panic of 1907.

Paul Douglas, top sports announcer, film & broadway actor, once married to actress Virginia Field . (The Solid Gold Cadillac, Angels in the Outfield, Panic In the Streets) 1907-1959

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"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."

The ‘Panic of 1907’ caused nationwide bank failures, timber prices collapsed, mine operations ceased, railroads stopped running, a rash of bankruptcies occurred, and a dramatic loss of confidence and a nasty economic downturn sank in for the next year. Although not as severe as many in the past, the Panic made clear the need for national legislation to protect bank depositors.

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In New York City, when vintage clothing store owner, Amanda Rosenbloom, discovers a journal from 1907 sewn into a fur muff she's recently acquired, she finds her destiny at stake as the past & present collide. Rising rent, a troubled economy, & unable to end an affair, Amanda is happy to escape into the world of Olive Westcott, a young woman from 100 years ago. Victorian ideas have been replaced by modern ways of thinking, but the financial panic of 1907 thrusts Olive into uncertainty.

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