What Would JP Do? 100 years ago we had the “Panic of 1907″ that included many of the same fundamental causes that we have been dealing with for the past month. A decline in stock prices precipitated a liquidity crisis with the banking system (sound familiar). Obviously, the highly leveraged trusts of 1907 are less sophisticated than the highly leveraged speculators of today. And of course, the run on the Knickerbocker was more extreme than the run on Countrywide. But these are scary similarities nonetheless. What JP Morgan did back then was something I have always admired. So now that Ben is facing a similar situation, I hope he is asking WWJPD?