A 1772 bank runner's escape to France triggered a global financial meltdown
When a high-stakes gambler and banker fled his debts in 1772, he unintentionally sparked a massive credit crisis that crippled banks across Europe and the British colonies.
Alexander Fordyce was a partner in a prominent British bank who lost a fortune betting against the East India Company's stock. On June 8, 1772, he fled to France to escape his creditors, causing his bank to collapse and triggering a panic that spread from London to Amsterdam.
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