Here’s what I think
Well I’m back in my blog chair and I don’t know if this is an I told you so or what goes around comes around. But, last summer I wrote about the panic of 1907 or banking crisis. Here’s what the Wall Street Journal had to say about it.
Now I’ts October 2008 and the stock market has been in free fall for days. When will it end? Your guess is as good as mine. Like the Panics of 1837, 1857, 1873 and 1897 the Panic of 1907 was a loss of faith in banks and eventually lead to the formation of the Federal Reserve, although it would take 7 years to do so.