This paper summarizes and compares the events associated with two financial crises separated by 100 years, occurring in 1907 and 2007-2009. The dynamics of both crises have much in common. The commonalities inform and enrich the theories and research on the dynamics of financial crises. And they...

"The "Panic of 1907," as it was called, is considered the third worst stock market crash in history. Historians say it lasted from January 19, 1906, through November 15, 1907. The market crash was primarily caused by a credit crunch in New York that slowly spread across the country. To try to...