3.2 JP Morgan and Friends

Season 3, Episode 2

No crisis is the fault of one person, and no successful rescue can be attributed to a single person. But the stories we tell have heroes and villains for a reason. Some people play an outsized role in bringing the system down and others in pushing it back up. The October 1907 attempted corner of the copper market, the financial panic it caused, and the subsequent rescue have a handful of such heroes and villains. Episode two in our series on the history of the Lender of Last Resort. 

Go to www.centralverse.org for interactive graphics explaining how modern central banks work today. Listen wherever you get your podcasts.

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Transcript with full list of sources available here