Financial Panics of the 15th Century

Panic 15th

Medici-CoatOfArms

The 15th century saw the collapse of the Medici merchant bankers. Today, Goldman Sachs has sought to install its people in key positions in government. This is by no means a new development. The Medici and the Piccolomini families of Italy had installed two Popes to also control papal business and revenues. Other merchant bankers attempted to control government and failed.