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Published on: 6/5/2008
Last Visited: 9/29/2008
Wiessmann's first in a series of "Conversations on the Economy" featured Sean Carr, co-author of The Panic of 1907: Lessons Learned from the Market's Perfect Storm
HARRISBURG , Earlier this week, Pennsylvania Treasurer Robin L. Wiessmann hosted Sean Carr, co-author of The Panic of 1907: Lessons Learned from the Market's Perfect Storm, at the first "Conversation on the Economy," her series of learning annexes concerning today's economy.
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At the forum, Carr, director of Corporate Innovation Programs at the Darden Graduate School of Business Administration at the University of Virginia, spoke about 1907, a time when our nation experienced significant liquidity issues and volatility in the financial markets.Wiessmann and Carr led the audience, made up of high-ranking government officials and financial industry professionals, in an interactive discussion of the elements that converged to create the 1907 crisis and the relevancy of the solutions to today's economic climate.
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Each is unique, yet we know enough about them all to be able to generalize , our big generalization from 1907 is that explanations come from a convergence of causes, most of which are always present in the global economy," Carr said in his remarks.