Most of the financial panics experienced by the United States in the past can be traced to the behavior of financial intermediaries who either took on too much risk or behaved unethically.

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Many financial panics in the United States have been caused by the excessive risk-taking and unethical behavior of financial intermediaries, such as banks and investment firms. Examples include the Panic of 1907, which was triggered by the failure of several banks and trust companies, and the 2008 financial crisis, which was caused in part by the risky and fraudulent practices of mortgage lenders and investment banks.

Most of the Financial Panics Experienced by the United States