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- W2146241490 abstract "Lax regulation enabled trust companies to take excessive risks, according to previous studies of the Panic of 1907, leading to a loss of confidence and massive runs. These studies have, however, given relatively little attention to the historical development of trust companies. This article argues that a more historical perspective can lead to a better understanding of the institutional framework and the actions of trust companies. Depositors did not lose confidence because of inadequate regulation; depositors lost confidence in specific trust companies because of false rumors, and diversity among trust companies hindered cooperation to halt the Panic." @default.
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- W2146241490 date "2014-01-01" @default.
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- W2146241490 title "A Failure of Regulation? Reinterpreting the Panic of 1907" @default.
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- W2146241490 doi "https://doi.org/10.1017/s0007680514000439" @default.
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