1907, panic: some banks and trust companies gave money to speculators who locked in the stock of a copper producer. Because the plan failed, these financial institutions ran, and investors' confidence in financial institutions was seriously insufficient. JPMorgan Chase, a bank tycoon, called new york bankers to discuss all night to persuade them to raise funds for depositors to withdraw money, so as to enhance public confidence.
1933 Great Depression: Four years after the most famous stock market crash in history, President Roosevelt and Congress set up a homeowners' loan company to accept non-performing loans from banks and refinance them to 1 10,000 homeowners at a lower fixed interest rate of 15. Due to the stock market crash, most of these homeowners were unable to pay their mortgages.
1986- 1995 deposit and loan crisis: due to the large-scale expansion of deposit companies into the commercial real estate lending market, 3,234 deposit and loan companies closed down, and the US government set up RTC to identify non-performing assets, costing 654.38+024 billion US dollars.
In September 2008, the world financial turmoil raged: I won't say much this year. The reasons are obvious: the development is too fast, there are too many bubbles, the layout is unstable, the disaster risk early warning system is weak, the later anti-risk ability is too weak, and the post-risk recovery ability is unknown. The rapid development has burned people's eyes, and people have over-beautified the system and ability of this economic world, forgetting the natural law that there are risks when there are profits. Since this year's economic instability, a new round of economic crisis triggered by American subprime mortgage has begun. (miserable! Dude, my stock has shrunk badly, and there are less than 200 thousand shares left in 2 million shares.