Editing Barings Bank (section)

===Panic of 1890===
In the late 1880s, daring efforts in underwriting got the firm into serious trouble through overexposure to Argentine and Uruguayan debt. In 1890, Argentine president [[Miguel Juárez Celman]] was forced to resign following the [[Revolución del Parque]], and the country was close to defaulting on its debt payments. This crisis finally exposed the vulnerability of Barings, which lacked sufficient reserves to support the Argentine bonds. Through the organisational skills of the governor of the Bank of England, [[William Lidderdale]], a consortium of banks was arranged, headed by former governor [[Hucks Gibbs, 1st Baron Aldenham|Henry Hucks Gibbs]] and his family firm of [[Antony Gibbs & Sons]], to bail Barings out and support a bank restructuring. The resulting turmoil in financial markets became known as the [[Panic of 1890]].<ref>Helga Drummond, ''The Dynamics of Organizational Collapse: The Case of Barings Bank'' (Routledge, 2008). </ref><ref>Mark Stein, "The risk taker as shadow: A psychoanlytic view of the collapse of Barings Bank." ''Journal of Management Studies'' 37.8 (2000): 1215-1230. </ref>