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To: AAABEST

Credit-Anstalt was an Austrian bank that did the same thing and began the Great depression


62 posted on 06/12/2012 6:15:16 AM PDT by bert ((K.E. N.P. N.C. +12 ..... Present failure and impending death yield irrational action))
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To: bert

The name, “Creditanstalt” rang a clear bell, and I Googled it, and sure enough like you said, when it went bust, and as per the Wikipedia entry on it, “...It declared bankruptcy on May 11, 1931. It has been said that this event resulted in a global financial crisis and ultimately the bank failures of the Great Depression”.

http://en.wikipedia.org/wiki/Creditanstalt

Interesting. So, what bank will have the dubious honor of being the Creditanstalt of the 21st Century?


71 posted on 06/12/2012 6:29:22 AM PDT by AnAmericanAbroad (It's all bread and circuses for the future prey of the Morlocks.)
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