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The Panic of 1907: Lessons Learned from the Market's Perfect Storm | [Robert F. Bruner, Sean D. Carr]

The Panic of 1907: Lessons Learned from the Market's Perfect Storm

In The Panic of 1907, authors Robert Bruner and Sean Carr offer an alternate perspective through a detailed narrative of one of the worst crises in modern financial history - one which ultimately transformed the American financial system and resulted in the establishment of the modern Federal Reserve.
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Publisher's Summary

Why do markets crash and bank panics happen? Conventional wisdom has gathered, like iron filings, at two intellectual poles: at one extreme is a hodge-podge of idiosyncratic, period-specific causes and at the other is a host of all-encompassing "single bullet" theories.

In The Panic of 1907, authors Robert Bruner and Sean Carr offer an alternate perspective through a detailed narrative of one of the worst crises in modern financial history - one which ultimately transformed the American financial system and resulted in the establishment of the modern Federal Reserve.

Drawing from rare source materials, Bruner and Carr take you day by day through the crisis in 1907, revealing what happened, why it matters, and what we can learn from it. Beginning with a catastrophic earthquake in San Francisco and culminating in the shocking suicide of the deposed president of one of New York's leading financial institutions, this book will draw you into the central issues surrounding the panic of 1907.

With The Panic of 1907 as your guide, you'll be prepared to assess, understand, and anticipate the factors that can lead to a crisis

Download the accompanying reference guide.

©2009 Robert F. Bruner and Sean D. Carr; (P)2009 Audible, Inc.

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  •  
    Arnold toronto, ON, Canada 03-11-11
    Arnold toronto, ON, Canada 03-11-11 Member Since 2010
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    "Interesting for the facts but not the storytelling"

    This was a major crisis that not many know about these days. I appreciate the authors walking me through it but they do little but present facts and quotes from newspapers. Not a fun listen except for the bits on Augustus Hines, who came from poverty, built an empire then pulled the trigger on events that almost lead to the crash of the western financial system. Besides that the major characters, personalities and backgrounds weren't discussed except superficially. I listened to most of it at double speed and skipped the last hour, which was a lecture on economics.

    3 of 3 people found this review helpful
  •  
    Donald Asheville, NC, United States 03-24-11
    Donald Asheville, NC, United States 03-24-11 Member Since 2009
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    "Before the Great Recession"

    What I like best about the book is the story of the panic itself. I have not read another book that provides as much detail about the Panic of 1907 as this book. This book takes the news stories of that day and weaves them together. Each chapter builds on the last. And at the end, the authors take a chapter to present what they consider to be ideas common to later recessions. Think Great Recession of 2008.
    If you want to know more about the stock market in the past and haven’t read “Reminisces of a Stock Operator,” then you should listen to that book first. That book also covers the San Francisco earthquake but also provides a story on how a trader traded the event. Think Japan on 3/11/11.
    The last chapter takes a narrow view of economics. A wider variety of viewpoints are available in The Making of Modern Economics.

    2 of 2 people found this review helpful
  •  
    Fabio Brazil 07-09-12
    Fabio Brazil 07-09-12 Member Since 2011
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    "Outstanding!"
    What made the experience of listening to The Panic of 1907 the most enjoyable?

    It's amazing how history repeats itself... And we apparently don't learn anything from our mistakes. The excesses and lack of regulation that triggered the 1907 banking panic (and the ones that preceeded it), continues until the present day. Listening to this book, I got the impression that I could simply replace "1907" with "2008" and the story would still make sense.


    0 of 0 people found this review helpful
  •  
    Paula 01-02-12
    Paula 01-02-12 Member Since 2004
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    "A financial study relevant to today."
    Is there anything you would change about this book?

    No, because you know what you are getting into when you choose the title. It is about finance which can be confusing or at least boring and since I personally am not that educated in finance it was a little hard to follow sometimes. I don't believe the


    Would you be willing to try another book from Robert F. Bruner and Sean D. Carr ? Why or why not?

    Probably so on another subject. They seem to do a good job on researching their subject and presenting it in an interesting way.


    Have you listened to any of Jay Snyder’s other performances before? How does this one compare?

    No.


    Did The Panic of 1907 inspire you to do anything?

    No. I am unable to do anything about my financial status since I am retired but it did make me understand a little more about our present economic situation. It also showed that a panic or economic downturn of significance always follows a boom. Something to look for in the future. A good quote from the book is very illuminating and perfectly describes our present crisis in describing the big financial leaders and institutions in this country. They


    Any additional comments?

    0 of 0 people found this review helpful
  •  
    PHIL San Diego, CA, United States 12-16-11
    PHIL San Diego, CA, United States 12-16-11
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    "Good story, could use more colorful details"

    This account was well-told and the last chapter has a very good summation of financial crash dynamics. But the story really came alive when I also listened to "100 Minds that Made the Market" (audible audiobook) which went over personal traits and lifestyles of several main participants.

    0 of 0 people found this review helpful
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