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Knickerbocker Crisis of 1907
- The "Panic of 1907", also known as the Knickerbocker Crisis, was a major financial crisis.
- It led to the establishment of the Federal Reserve System.
Early American Banking
- Early American leaders debated between a central bank and independent state banks.
- President Jackson let the central bank's charter expire in the 1830s, leading to a free-for-all banking environment.
The Copper Corner Scheme
- The Heinz brothers and Charles Morse attempted to corner the copper market.
- Their scheme failed, leading to significant financial losses.