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Panic of 1901
First stock market crash on the New York Stock Exchange
Financial control of the Northern Pacific Railway
Cause impart by struggles between E.H.Harrison, Jacob Schiff and J.P. Morgan/James.J.HIll -
Bankers Panic
Financial crisis taken place over 3 weeks
Mid October New York stock exchange fell almost 50%
Nation wide man banks and local business entered bankruptcy
Lead to the downfall Knickerbocker trust company -
The Depression of 1920-1921
Sharp deflationary recession of the us and other countries
Happened 14 months after the end of WW1
Started in January of 1920 and ended in July 1921 -
Stock Market crash of 1929
Four day collapse of stock market prices
Worst decline in us history
Started Oct 24th and ended Oct 28th -
The Great Depression
9000 banks failed during the months following the stock market crash of 1929
Lasted between 1929 and 1939
Unemployment rose to 25%
Worst economic downfall in history
Wiped out millions of investors
Recovery involved a permanent jobs program that employed 8.5 million people from 1935-1943 -
Energy/Oil crisis
Key role in economic downfall
OPEC oil embargo of 1973 rose from $3/barrel to $12/barrel
US stock market went into a slump
Workers got laid off
Started buying oil from the middle east
Major industrial countries faced petroleum shortages raising prices -
Second Oil Shock
Crude Oil more than doubled to $39.50/barrel over 12 months -
Early 1980s recession
Caused by federal reserves contracting monetary policy
July 1981- July 1982 -
Bank Stock Crisis of 1983 (Israel)
Bank shares collapsed following several years during when the banks had to promote share prices and make 300% higher
Government took control of the bank and didn't sell it back to the public until 1993
35% of stock values were lost
Stocks of 4 largest banks in Israel collapsed -
Black Monday
Stock Market crashed
People lost value in their portfolios so the Government had to give out loans -
India Economic Crisis
Government closed to default
Central bank refused new credit and foreign exchange reserves were reduced to a point where India could barely finance 3 weeks of imports.
Currency devaluation was another cause -
Mexican Peso Crisis
A currency crisis sparked by Mexican Government
Value of Peso went down
First international financial crisis ignited by capital flight
In less than 18 months the Mexican economy was back up -
Russian Financial Crisis
August 1998 Russian Government and Central bank devalued the ruble and defaulted on its debt
Severe impacts on economies of neighboring countries -
Ecuador Financial Crisis
All banks in Ecuador were closed for a day
Governer Jamil Mahaad made it a banking holiday
It was supposed to be a one day event but lasted five
People rioted and tried to break into banks -
Great Recession Spain
From 2008-2013
Caused by a housing bubble and accompanying unsustainable high GDP growth rate -
The Great Recession of 2008
Major worldwide economic turn down that began in 2008 and continued into 2010
Caused by the financial crisis of 2008 as well 2.6 million jobs were lost in 2008
The stock Market crash started on Sept 29th 2008 and it dropped 90%
The Dow Jones Industrial average fell 777.68 points in intra-day trading which is the largest point drop in any single day of history.
President Obama dug us out of the great recession
The recovery has taken so long that basically anyone can take credit for it -
European debt crisis
Caused by the peripheral euro zone membering states of Greece, Spain, Ireland, Portugal, and Cypress were unable to pay or refinance their government debt or bail out their beloved banks without the assistance of third party financial institutions -
Ukrainian crisis
Caused by the president suspended preparations for the implantation of an association agreement with the European union
