[Stratovarius]

Panic of 1907$this->bbcode_second_pass_quote('', 'T')he Panic of 1907 was a financial crisis that occurred in the United States when its stock market fell close to 50 percent from its peak the previous year. Primary causes of the run included a retraction of market liquidity by a number of New York City banks, a loss of confidence among depositors, and the absence of a statutory lender of last resort.

[Olle]

...and that was one of the reasons we got Fed. To HAVE a lender of last resort...

What is you point?

[americandream]

$this->bbcode_second_pass_quote('Olle', '.')..and that was one of the reasons we got Fed. To HAVE a lender of last resort...

What is you point?

[mattduke]

The primary cause of all panics is the creation of multiple property titles (bank accounts) to the same property (reserves).