The Panic of 1907: The Night One Banker Saved America

The Panic of 1907: The Night One Banker Saved America In October 1907, the United States had no central bank, and its financial system came within hours of collapse. A failed attempt to corner the stock of United Copper set off a chain reaction. Depositors ran on the Knickerbocker Trust, panic spread to the Trust Company of America, and the New York Stock Exchange came close to shutting its doors in the middle of a trading day. This cinematic documentary follows the crisis day by day, from the copper scheme to the bank runs, the emergency rescue pools, and the night 70-year-old J.P. Morgan locked New York's leading bankers inside his library until they agreed on a rescue. It ends with the political backlash that followed, which led to the National Monetary Commission, the secret meeting on Jekyll Island and, in 1913, the Federal Reserve. This video tells history and analyses it. It is not financial advice. Subscribe to Paper Empires for more stories about money, power and the people who shaped modern economies. #Panicof1907 #JPMorgan #FinancialHistory #FederalReserve #Documentary ⏱ Chapters 0:00 Intro 0:45 The Copper Gamble 2:30 Run on the Trusts 4:19 The Old Man Takes Command 6:10 The Exchange at the Brink 7:56 The Locked Library 9:47 The Birth of the Federal Reserve