To: Travis McGee
7 posted on
03/10/2008 8:52:30 AM PDT by
murphE
(I refuse to choose evil, even if it is the lesser of two.)
To: murphE; shrinkermd; ex-Texan; TigerLikesRooster; jas3; CodeToad; AndyJackson; ovrtaxt; nicmarlo; ...
Several brokerage houses tumbled; blue-sky investment companies formed during the happy bull market days went to smash, disclosing miserable tales of rascality; over a thousand banks caved in during 1930, as a result of marking down both of real estate and of securities; and in December occurred the largest bank failure in American financial history, the fall of the ill-named Bank of the United States in New York. ~~"Only Yesterday: An Informal History of the 1920s" by Fredrick Lewis Allen
"There is no means of avoiding the final collapse of a boom brought about by credit expansion. The alternative is only whether the crisis should come sooner as a result of a voluntary abandonment of further credit expansion, or later as a final and total catastrophe of the currency system involved."~~Ludwig von Mises
39 posted on
03/10/2008 3:37:52 PM PDT by
Travis McGee
(---www.EnemiesForeignAndDomestic.com---)
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