StrategyDriven Editorial Perspective – Panic of 1907 vs Great Recession of 2008
Strategy Driven
DECEMBER 5, 2013
He went on to describe the similarities between the banking crisis of 1907 – the one that inspired the formation of the Federal Reserve – and the more recent 2008 financial crisis. As the underwriting weaknesses of subprime portfolios became known, banks stopped lending to each other, paralyzing credit markets.
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