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1. The Panic of 1907 – One of the most prominent causes of the Panic of 1907 was the lack of regulations over trust companies, corporations that served as trustees for the financial assets of estates, individuals and businesses. Their freedom to trade in riskier ventures with extremely low reserves made the trust companies ticking time bombs.

2. The Panic of 1901 – The Panic of 1901 was triggered by more competition over the railroads. Company consolidation was roaring along full swing at the turn of the 20th century and two businessmen — James J. Hill and E. H. Harriman — were in stiff competition for a key railway company. Hill and his backers managed to secure the deal, but not before Harriman and his associates tried to snap up one of his opponent’s other main railway lines.

3. The Panic 0f 1873 – In September 1873, after overextending its resources to support railroad development, banking house Jay Cooke and Company was forced to declare bankruptcy. Following the announcement, a surge of panic shot through Wall Street investors, and the stock exchange took a massive dive. Over the next few years, thousands upon thousands business would fail in turn.

4. The Panic of 1837 – Prices fluctuated wildly and the banking system lost stability — and consumer confidence — once again. A wave of deflation followed, and panic struck people across the nation. Banks closed by the hundreds, and the country was once again mired in the throes of a depression for several years.

5. The Panic of 1819 – The United States had been a major exporter of agricultural products and importer of manufactured products before the War of 1812. During the war, imports were greatly diminished and as a result, the manufacturing sector exploded to meet the new demand. This overzealous expansion, coupled with lax banking practices, government overborrowing, returning international competition, a lack of hard currency, increased credit lending, a surging real estate boom and the widespread growth of speculation and development of public land, all helped set the stage for disaster.

Source: How Stuff Works

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