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Also by Sean D. Carr:

The Panic of 1907, September 2007
Hardcover

THE PANIC OF 1907
By: Sean D. Carr

Lessons Learned from the Market's Perfect Storm

Wiley
September 2007
On Sale: August 31, 2007
272 pages
ISBN: 047015263X
EAN: 9780470152638
Hardcover
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Historical | Non-Fiction

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. Throughout this journey, you'll not only become familiar with the events of the crisis, but you'll also discover how larger-than-life figures, such as the inestimable J. Pierpont Morgan, took it upon themselves to provide leadership—and inspire confidence—at a time of great uncertainty and instability.

Filled with in-depth insights, The Panic of 1907 offers a deeper understanding of what influences financial markets—both then and now. Through this engaging case study of the panic and crash, Bruner and Carr provide a useful framework for understanding these events, suggesting that major financial crises can be the result of a convergence of certain, unique forces—the forces of the market's "perfect storm"—that can cause investors to react with alarm.

When the many elements of the next financial storm converge, will you be ready? 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.

Media Buzz

All Things Considered - August 28, 2007