The Knickerbocker Trust - The Panic of 1907

There were dozens of panics during the 1800s. The one that really spurred their creation was the panic of 1907. And it was all due to some speculators in the stock exchange who had taken over margin loans through what's called, I think it was called the knickerbocker trust. JP Morgan came in and saved the day and basically stopped a full on bank run from happening across the system.