Knickerbocker crisis

Type: Event

As of November 2026, Knickerbocker crisis has been mentioned in one podcast episode on All-In Podcast (Dec 2025). Used to explain the 1907 panic and the rationale for creating the Fed in 1913.

The Panic of 1907, also known as the 1907 Bankers' Panic or Knickerbocker Crisis, was a financial crisis that took place in the United States over a three-week period starting in mid-October, when the New York Stock Exchange suddenly fell almost 50% from its peak the previous year. The panic occurred during a time of economic recession, and there were numerous runs affecting banks and trust companies. The 1907 panic eventually spread throughout the nation when many state and local banks and busi