To: lainie; ex-Texan; TigerLikesRooster; jas3; CodeToad; AndyJackson; ovrtaxt; nicmarlo; dennisw; ...
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
11 posted on
04/23/2008 8:25:34 PM PDT by
Travis McGee
(--- www.EnemiesForeignAndDomestic.com ---)
To: Travis McGee
So the profits have tumbled, but how much of the base capitol has tumbled? Investors have lost “profit” but how does that equate to bank failure? I’m missing something here.
13 posted on
04/23/2008 8:47:44 PM PDT by
eyedigress
(If you aren't voting who cares about your opinion.)
To: Travis McGee
17 posted on
04/24/2008 9:19:41 AM PDT by
GOPJ
(Dew knot tryst yore spill chequer too ketch awl yore miss takes... Freeper backhoe)
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