From Tea Panic to Tea Party

      Over two centuries ago, a single speculator set off a chain reaction that triggered a global financial panic. Perhaps surprisingly, that speculator was reacting to history unfolding thousands of miles away and his bet had effects across continents. Linking these events was a single commodity of great importance to 18th century trade, tea. The Crisis

Old Lombard Street’s Greatest Panic

           In the spring of 1866, London’s money markets were shaken by the collapse of a single large and previously illustrious firm. The Panic of 1866 was one of the most severe in Victorian finance. However, it was also handled in a surprisingly effective manner by the Bank of England, then merely a private bank, albeit

The Knickerbocker Trust Company

           Financial crises have been around longer than many realize. Imagine reading that the stock market plunges by 50%, recession follows, investment firms and banks fail across the country, and the government seeks to get to the bottom of what happened. Could that be describing the Great Depression or the most recent recession? In either case,

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