Theories abound on which financial crisis of the past is most similar to the one we are currently living through (The Panic of 1873 and the Subsequent ‘Long Depression’? Or perhaps it’s the Panic of 1907? Then again maybe we need to go back to the Mississippi Bubble of the early 18th century?). Of course the truth is that every panic is unique and someday the Credit Crunch will be a measuring board against which future turmoils will be compared. Nonetheless much can be learned from these past events as the situations in which they arise remain eerily familiar (the more financial tools change, the more they stay the same!).
Here the good people at Wharton keep the comparisons a bit more recent and look at major banking issues that have struck the world in the past couple of decades. Financial Historians must be estatic as they are living through times that are far more valuable than all the possible research material they could dig up in an archive.