In mid-October, for three weeks the American economy suffered as the New York Stock Exchange dropped 50% during the first week. At the time the U.S. populace was much smaller than it is today with only around 87 million citizens. The panic that ensued caused many runs on banks, savings and loan firms, and trust companies.
Depositors panicked because bankers were caught red-handed setting up ‘bucket shops’ with people’s deposits and only keeping a fraction of reserves on hand. This ultimately led to the fall of the Knickerbocker Trust and this is why some people call the panic of 1907 the ‘Knickerbocker Crisis.’
Scholarly articles show that one man, JP Morgan, and his crew of New York bankers saved the day. Even though Morgan and his cronies were responsible for the side bets, he and his crew also stepped in to offer a solution...
A nanoparticle or ultrafine particle is usually defined as a particle of matter that is ... of nanoprisms give rise to high effective cross- sections and deeper colors of the colloidal solutions.