Eight Million Dollars in Three Hours: The Panic of 1907
On October 22, 1907, a bank run drained $8 million from New York's Knickerbocker Trust in under three hours, igniting a panic that ended with the creation of the Federal Reserve.
On October 22, 1907, a bank run drained $8 million from New York's Knickerbocker Trust in under three hours, igniting a panic that ended with the creation of the Federal Reserve.