Seems more like the U.S. Bank Panic of 1907.[1] "The panic might have deepened if not for the intervention of financier J. P. Morgan, who pledged large sums of

Seems more like the U.S. Bank Panic of 1907.[1] "The panic might have deepened if not for the intervention of financier J. P. Morgan, who pledged large sums of his own money and convinced other New York bankers to do the same to shore up the banking system. That highlighted the limitations of the US Independent Treasury system, which managed the nation's money supply but was unable to inject sufficient liquidity back into the market." This led to the creation of the Federal Reserve System. [1] https://en.wikipedia.org/wiki/Panic_of_1907 https://en.wikipedia.org/wiki/Panic_of_1907