THE PANIC OF 1907 AND MY FATHER. One of my father’s earliest memories of his mother lying on her bed sobbing because the family had lost all of its savings. It must have been in 1907 when my father was four. I imagine the savings were lost when a bank failed. While most people seem to place some of their savings in financial assets such as stocks or bonds, it was over fifty years before my father could bring himself to do so.
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I believe a book was just written on this. I heard about it on the radio on my way down to Atlanta on NPR. Two university professors wrote about it, and it has gone largely unnoticed in my high school education.
Aha! Found it!
“The Panic of 1907: Lessons Learned from the Market’s Perfect Storm”
Here’s an article and audio from NPR.
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