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Wall Street’s New Gilded Age (Wall Street players thrive, Main Street dives)
Newsweek ^
| 9/12/2009
| Niall Ferguson |
Posted on 09/12/2009 7:07:27 AM PDT by SeekAndFind
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To: SeekAndFind
Despite Biddle's effort to precipitate a financial panic in retaliation, "Old Hickory" carried the day, and in 1836 the bank lost its public status. Without government backing, it did not last long. In October 1839 the bank suspended payments, and in 1841 it disappeared. Yeah, and I believe a fairly severe depression resulted.
Ah, another bank-slamming piece by Newsweak. No surprise.
To: FromLori
A hundred years ago, people angrily compared the House of Rothschild to a giant octopus with its tentacles wrapped around the U.S. economy. Today it's the turn of Goldman Sachs to be likened to a "great vampire squid." Idiots then, idiots now.
22
posted on
09/12/2009 9:06:19 PM PDT
by
Toddsterpatriot
(Math is hard. Harder if you're stupid.)
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