Comments on: 10 American Financial Meltdowns in the Past Century http://www.neatorama.com/2008/10/08/10-american-financial-meltdowns-in-the-past-century/ The Neat Side of the Web Fri, 09 Jan 2009 05:50:35 +0000 http://wordpress.org/?v=2.6.3 By: Jaques http://www.neatorama.com/2008/10/08/10-american-financial-meltdowns-in-the-past-century/#comment-1259487 Jaques Thu, 11 Dec 2008 17:26:38 +0000 http://www.neatorama.com/?p=19368#comment-1259487 Americans just don´t learn it. Never ever. Crisis after crisis for exactly the same reason: greed. And then those suckers make the whole world suffer. Someone should stop them from messing around with world economie. America sucks!!! Americans just don´t learn it. Never ever. Crisis after crisis for exactly the same reason: greed. And then those suckers make the whole world suffer.
Someone should stop them from messing around with world economie.
America sucks!!!

]]> By: Chris Goodman http://www.neatorama.com/2008/10/08/10-american-financial-meltdowns-in-the-past-century/#comment-1193922 Chris Goodman Tue, 18 Nov 2008 17:51:44 +0000 http://www.neatorama.com/?p=19368#comment-1193922 For the record, the image of Hoovertown in the segment on the Great Depression was taken in Seattle, WA. That tall, pointed building in the background is the Smith Tower, once the tallest building on the West coast. see http://www.historylink.org/index.cfm?DisplayPage=output.cfm&file_id=2581 for details. For the record, the image of Hoovertown in the segment on the Great Depression was taken in Seattle, WA. That tall, pointed building in the background is the Smith Tower, once the tallest building on the West coast. see http://www.historylink.org/index.cfm?DisplayPage=output.cfm&file_id=25 81 for details.

]]> By: DiscoStu http://www.neatorama.com/2008/10/08/10-american-financial-meltdowns-in-the-past-century/#comment-1154698 DiscoStu Thu, 13 Nov 2008 03:48:04 +0000 http://www.neatorama.com/?p=19368#comment-1154698 I'm just glad mortgage rates are dropping here in Australia, after the constant rises under the previous conservative government, it's nice to be paying a little less at last! I’m just glad mortgage rates are dropping here in Australia, after the constant rises under the previous conservative government, it’s nice to be paying a little less at last!

]]> By: Ash http://www.neatorama.com/2008/10/08/10-american-financial-meltdowns-in-the-past-century/#comment-1144203 Ash Mon, 10 Nov 2008 12:46:22 +0000 http://www.neatorama.com/?p=19368#comment-1144203 The present crisis is not the first to hit the US, and only fools will believe that it is the last after reading about the last 10 meltdowns. Innovation in the US is regularly getting the better of regulation. The results are for all to see. The need of the hour is to 1. Regulate the financial system so that the exotic breed of animals sometimes called investment bankers can be reigned in & controlled for all time. 2. Conserve energy. The entire world can live without SUV's & Hummers. Why is it necessary for Americans to go to office in trucks ( 80% of the word thinks that a Honda civic is a LARGE car, the Americans believe it is a fuel efficient small car) ? The world shuts of lights when they walk out of rooms, why cant Americans learn ? 3. Stop wastage. Eat / Order as much as you need. Why is it necessary to order 7 scoop ice cream sundaes & waste half of it when there is starvation in Africa ? The solution lies in offering 3 scoop sundaes at half the price. 4. Pay for what you use, if you cant pay / afford it – don’t buy it. Don’t expect the world to finance your lifestyle for ever & then come up with innovations to roll over obligations to the next generation of Americans. Many would consider my views outrageous. Well go ahead, live your life of non regulated wastage. Following it will bring down the number of unemployed Americans, gas prices, hungry people in Africa, lower global warming & a more stable economic system. But, hey who cares about that hungry kid in Africa, let him starve, and you will find that very soon China & the Saudis will not buy American Asset Backed Securities & then the bill for the crisis which started in New York will have to be paid in New York. The present crisis is not the first to hit the US, and only fools will believe that it is the last after reading about the last 10 meltdowns. Innovation in the US is regularly getting the better of regulation. The results are for all to see.
The need of the hour is to
1. Regulate the financial system so that the exotic breed of animals sometimes called investment bankers can be reigned in & controlled for all time.
2. Conserve energy. The entire world can live without SUV’s & Hummers. Why is it necessary for Americans to go to office in trucks ( 80% of the word thinks that a Honda civic is a LARGE car, the Americans believe it is a fuel efficient small car) ? The world shuts of lights when they walk out of rooms, why cant Americans learn ?
3. Stop wastage. Eat / Order as much as you need. Why is it necessary to order 7 scoop ice cream sundaes & waste half of it when there is starvation in Africa ? The solution lies in offering 3 scoop sundaes at half the price.
4. Pay for what you use, if you cant pay / afford it – don’t buy it. Don’t expect the world to finance your lifestyle for ever & then come up with innovations to roll over obligations to the next generation of Americans.
Many would consider my views outrageous. Well go ahead, live your life of non regulated wastage. Following it will bring down the number of unemployed Americans, gas prices, hungry people in Africa, lower global warming & a more stable economic system.
But, hey who cares about that hungry kid in Africa, let him starve, and you will find that very soon China & the Saudis will not buy American Asset Backed Securities & then the bill for the crisis which started in New York will have to be paid in New York.

]]> By: gone-walkabout http://www.neatorama.com/2008/10/08/10-american-financial-meltdowns-in-the-past-century/#comment-1088411 gone-walkabout Fri, 17 Oct 2008 03:43:00 +0000 http://www.neatorama.com/?p=19368#comment-1088411 great article. great article.

]]> By: Sheryl http://www.neatorama.com/2008/10/08/10-american-financial-meltdowns-in-the-past-century/#comment-1088115 Sheryl Thu, 16 Oct 2008 21:16:53 +0000 http://www.neatorama.com/?p=19368#comment-1088115 This was the best annotated time line I have ever seen. I think that is the best way to describe what you've done. It gave such a great overview of the issues in language anyone can understand and in a style that was engaging. Thanks for doing this! This was the best annotated time line I have ever seen. I think that is the best way to describe what you’ve done. It gave such a great overview of the issues in language anyone can understand and in a style that was engaging. Thanks for doing this!

]]> By: Prateek G V http://www.neatorama.com/2008/10/08/10-american-financial-meltdowns-in-the-past-century/#comment-1081147 Prateek G V Sat, 11 Oct 2008 18:09:26 +0000 http://www.neatorama.com/?p=19368#comment-1081147 Wow that was an interesting read. Thanks for sharing it. Will definitely recommend it to my friends :) Wow that was an interesting read. Thanks for sharing it. Will definitely recommend it to my friends :)

]]> By: Craig http://www.neatorama.com/2008/10/08/10-american-financial-meltdowns-in-the-past-century/#comment-1079068 Craig Fri, 10 Oct 2008 17:14:46 +0000 http://www.neatorama.com/?p=19368#comment-1079068 Thank you for the articale. Insightful & communicated very well. Made very understandable to the average person (like me). It kills me that the bailout and all of our other efforts continue to disregard the core of our problems which is the current overvaluation of the economy and the horrible perception that has been created, that debt can be equity. I wish that we as a society could approach this from the perspective that this may be a healthy natural rebalancing of the economic engine and that our current economic model is unhealthy and unsustainable. Thank you for the articale. Insightful & communicated very well. Made very understandable to the average person (like me).

It kills me that the bailout and all of our other efforts continue to disregard the core of our problems which is the current overvaluation of the economy and the horrible perception that has been created, that debt can be equity. I wish that we as a society could approach this from the perspective that this may be a healthy natural rebalancing of the economic engine and that our current economic model is unhealthy and unsustainable.

]]> By: Dianne http://www.neatorama.com/2008/10/08/10-american-financial-meltdowns-in-the-past-century/#comment-1077902 Dianne Thu, 09 Oct 2008 23:44:59 +0000 http://www.neatorama.com/?p=19368#comment-1077902 Judy B. - This is also the first time I noticed the baby she is holding. He/she is sort of hidden huh? Good luck with your new baby. I know how corny this sounds, but money comes and goes. The little guy you are lucky to have in your life right now is priceless! Enjoy every minute. Judy B. - This is also the first time I noticed the baby she is holding. He/she is sort of hidden huh? Good luck with your new baby. I know how corny this sounds, but money comes and goes. The little guy you are lucky to have in your life right now is priceless! Enjoy every minute.

]]> By: stapler http://www.neatorama.com/2008/10/08/10-american-financial-meltdowns-in-the-past-century/#comment-1077700 stapler Thu, 09 Oct 2008 19:57:36 +0000 http://www.neatorama.com/?p=19368#comment-1077700 If you would have said that Gray Davis was "'total recalled' and Arnold Schwarzenegger was elected Governor to replace him." I would have fell out of my chair laughing. If you would have said that Gray Davis was “‘total recalled’ and Arnold Schwarzenegger was elected Governor to replace him.” I would have fell out of my chair laughing.

]]> By: XY http://www.neatorama.com/2008/10/08/10-american-financial-meltdowns-in-the-past-century/#comment-1077606 XY Thu, 09 Oct 2008 16:49:28 +0000 http://www.neatorama.com/?p=19368#comment-1077606 Hey this is truly a great read! I'm just starting college accounting and business so I'm still quite lost over all the financial terms, but this article gave me a better perspective on all the financial drama that had been going on for the past 2 weeks. Thanks! Hey this is truly a great read! I’m just starting college accounting and business so I’m still quite lost over all the financial terms, but this article gave me a better perspective on all the financial drama that had been going on for the past 2 weeks. Thanks!

]]> By: V http://www.neatorama.com/2008/10/08/10-american-financial-meltdowns-in-the-past-century/#comment-1077594 V Thu, 09 Oct 2008 06:31:50 +0000 http://www.neatorama.com/?p=19368#comment-1077594 Terrible. This article repeats whitewash that has been debunked over and over. For real info on these crises: Panic of 1907: https://mises.org/story/1353 70s Oil Crisis: https://mises.org/story/390 Crash of '29 and the Great Depression: http://mises.org/rothbard/agd.pdf (PDF natch) Crash of '87: http://hnn.us/articles/895.html "Two economists from the Securities and Exchange Commission, Mark Mitchell and Jeffry Netter, published a study in 1989 concluding that the anti-takeover legislation did trigger the crash. They note that as the legislation began to move through Congress, the market reacted almost instantaneously to news of its progress. Between Tuesday, October 13, when the legislation was first introduced, and Friday, October 16, when the market closed for the weekend, stock prices fell more than 10 percent -- the largest 3-day drop in almost 50 years. In addition, those stocks that led the market downward were precisely those most affected by the legislation. [Ultimately, the legislation was stripped of the provisions that concerned the stock market before being enacted into law.]4" Savings & Loan: https://mises.org/story/299 Long Term Capital Bailout: http://mises.org/story/43 Dotcom Bubble: http://mises.org/story/736 Electricity Crises: http://mises.org/story/969 Subprime Mortgage Crises: http://mises.org/story/3128 Terrible. This article repeats whitewash that has been debunked over and over. For real info on these crises:

Panic of 1907:
https://mises.org/story/1353

70s Oil Crisis:
https://mises.org/story/390

Crash of ‘29 and the Great Depression:
http://mises.org/rothbard/agd.pdf (PDF natch)

Crash of ‘87:
http://hnn.us/articles/895.html
“Two economists from the Securities and Exchange Commission, Mark Mitchell and Jeffry Netter, published a study in 1989 concluding that the anti-takeover legislation did trigger the crash. They note that as the legislation began to move through Congress, the market reacted almost instantaneously to news of its progress. Between Tuesday, October 13, when the legislation was first introduced, and Friday, October 16, when the market closed for the weekend, stock prices fell more than 10 percent — the largest 3-day drop in almost 50 years. In addition, those stocks that led the market downward were precisely those most affected by the legislation. [Ultimately, the legislation was stripped of the provisions that concerned the stock market before being enacted into law.]4″

Savings & Loan:
https://mises.org/story/299

Long Term Capital Bailout:
http://mises.org/story/43

Dotcom Bubble:
http://mises.org/story/736

Electricity Crises:
http://mises.org/story/969

Subprime Mortgage Crises:
http://mises.org/story/3128

]]> By: craig http://www.neatorama.com/2008/10/08/10-american-financial-meltdowns-in-the-past-century/#comment-1077502 craig Thu, 09 Oct 2008 04:54:39 +0000 http://www.neatorama.com/?p=19368#comment-1077502 Think that picture's from the Seattle Hooverville. That there is the Smith Tower. Think that picture’s from the Seattle Hooverville. That there is the Smith Tower.

]]> By: Alex http://www.neatorama.com/2008/10/08/10-american-financial-meltdowns-in-the-past-century/#comment-1077500 Alex Thu, 09 Oct 2008 04:48:14 +0000 http://www.neatorama.com/?p=19368#comment-1077500 @Blake Williams: I wrote this post. @Senior Taco: The California Energy Crisis and the Dot-com Bubble are two separate things. The rolling blackout had nothing to do with the high flying stocks of the dot-coms. Interestingly, the dot-com bubble coincided with the telecom bubble. Most people lumped those two together, but they're actually separate things. @draught/drought - thanks to those who corrected me! I actually know the difference, but am prone to typsos ... Darn these fat figners! @dr. jan vanderpool, EdD: You're welcome to copy the text and distribute it in your class with attributions to Neatorama.com. The pictures are copyright their respective owners. @Phil K.: The next domino to fall? Well, I don't know. But consider this: they've done the same thing to credit card debts as they've done to mortgages (securitize 'em) ... @fireflicker: you're right about gas prices. I didn't mention them at all because they're quite separate from the subprime/credit crunch though high gas prices did contribute to higher cost of doing business, less money to spend on other consumables, leading to lowered business earnings, and so on. High gas prices did take a toll on the economy. And finally, thanks to everyone who said that they liked the article! I hope this helps to explain what's going on and put everything in perspective. Please tell your friends about it! @Blake Williams: I wrote this post.

@Senior Taco: The California Energy Crisis and the Dot-com Bubble are two separate things. The rolling blackout had nothing to do with the high flying stocks of the dot-coms.

Interestingly, the dot-com bubble coincided with the telecom bubble. Most people lumped those two together, but they’re actually separate things.

@draught/drought - thanks to those who corrected me! I actually know the difference, but am prone to typsos … Darn these fat figners!

@dr. jan vanderpool, EdD: You’re welcome to copy the text and distribute it in your class with attributions to Neatorama.com. The pictures are copyright their respective owners.

@Phil K.: The next domino to fall? Well, I don’t know. But consider this: they’ve done the same thing to credit card debts as they’ve done to mortgages (securitize ‘em) …

@fireflicker: you’re right about gas prices. I didn’t mention them at all because they’re quite separate from the subprime/credit crunch though high gas prices did contribute to higher cost of doing business, less money to spend on other consumables, leading to lowered business earnings, and so on. High gas prices did take a toll on the economy.

And finally, thanks to everyone who said that they liked the article! I hope this helps to explain what’s going on and put everything in perspective. Please tell your friends about it!

]]> By: avist http://www.neatorama.com/2008/10/08/10-american-financial-meltdowns-in-the-past-century/#comment-1077407 avist Thu, 09 Oct 2008 03:10:50 +0000 http://www.neatorama.com/?p=19368#comment-1077407 Great article Alex. Awesome work! Great article Alex. Awesome work!

]]> By: Dano http://www.neatorama.com/2008/10/08/10-american-financial-meltdowns-in-the-past-century/#comment-1077366 Dano Thu, 09 Oct 2008 01:49:38 +0000 http://www.neatorama.com/?p=19368#comment-1077366 Regarding 9. California Electricity Crisis, paragraphs 2 and 3 certainly don't sound like deregulation to me. Just sounds like really bad regulation. Regarding 9. California Electricity Crisis, paragraphs 2 and 3 certainly don’t sound like deregulation to me. Just sounds like really bad regulation.

]]> By: fireflicker http://www.neatorama.com/2008/10/08/10-american-financial-meltdowns-in-the-past-century/#comment-1077364 fireflicker Thu, 09 Oct 2008 01:48:05 +0000 http://www.neatorama.com/?p=19368#comment-1077364 This article re 2007- mentions nothing about Petrol (gas) which is the issue at large. As they say it's easer to "fix" a disaster after it’s happened than put in methods to stop it. This article sucks, sorry but I had to say it. As for who ever said War on Terror, come on it's War FOR Petrol!!! This article re 2007- mentions nothing about Petrol (gas) which is the issue at large. As they say it’s easer to “fix” a disaster after it’s happened than put in methods to stop it. This article sucks, sorry but I had to say it. As for who ever said War on Terror, come on it’s War FOR Petrol!!!

]]> By: Phil K. http://www.neatorama.com/2008/10/08/10-american-financial-meltdowns-in-the-past-century/#comment-1077356 Phil K. Thu, 09 Oct 2008 01:24:20 +0000 http://www.neatorama.com/?p=19368#comment-1077356 What will the next "bubble" be? I say healthcare. What will the next “bubble” be? I say healthcare.

]]> By: Chad Cloman http://www.neatorama.com/2008/10/08/10-american-financial-meltdowns-in-the-past-century/#comment-1077345 Chad Cloman Thu, 09 Oct 2008 01:03:06 +0000 http://www.neatorama.com/?p=19368#comment-1077345 Great article! One minor edit: the California "draught" should be spelled "drought". Great article!

One minor edit: the California “draught” should be spelled “drought”.

]]> By: Robert http://www.neatorama.com/2008/10/08/10-american-financial-meltdowns-in-the-past-century/#comment-1077343 Robert Thu, 09 Oct 2008 00:50:32 +0000 http://www.neatorama.com/?p=19368#comment-1077343 The Government may have lost the War on Drugs, and botched the War on Terror, but they're winning the War on Savings (against its own citizens)! The Government may have lost the War on Drugs, and botched the War on Terror, but they’re winning the War on Savings (against its own citizens)!

]]> By: dr. jan vanderpool, EdD. http://www.neatorama.com/2008/10/08/10-american-financial-meltdowns-in-the-past-century/#comment-1077322 dr. jan vanderpool, EdD. Thu, 09 Oct 2008 00:08:17 +0000 http://www.neatorama.com/?p=19368#comment-1077322 This is a great article. I teach college accounting and business and with the author's permission, I would like to reprint this article for distribution to my classes. Great work. Simplified, informative and a great read. This is a great article. I teach college accounting and business and with the author’s permission, I would like to reprint this article for distribution to my classes. Great work. Simplified, informative and a great read.

]]> By: David Johnson http://www.neatorama.com/2008/10/08/10-american-financial-meltdowns-in-the-past-century/#comment-1077315 David Johnson Wed, 08 Oct 2008 23:56:26 +0000 http://www.neatorama.com/?p=19368#comment-1077315 Anyone else notice all but two were under Republican Presidents? Gads, they're not even good for big business! Who the heck *are* they good for? Anyone else notice all but two were under Republican Presidents?

Gads, they’re not even good for big business! Who the heck *are* they good for?

]]> By: Lisa Maldonado http://www.neatorama.com/2008/10/08/10-american-financial-meltdowns-in-the-past-century/#comment-1077247 Lisa Maldonado Wed, 08 Oct 2008 23:18:57 +0000 http://www.neatorama.com/?p=19368#comment-1077247 What an excellent article. Just wanted to point out a small spelling mistake--draught is a breeze, drought is a long, dry spell... At the risk of being repetitive, the first time I have read an explanation of all this that makes sense to those without much expertise in finance! I LOVE Neatorama...I hardly look at anything else, but I read you guys almost every day. Neatorama is nitid. What an excellent article. Just wanted to point out a small spelling mistake–draught is a breeze, drought is a long, dry spell…

At the risk of being repetitive, the first time I have read an explanation of all this that makes sense to those without much expertise in finance!

I LOVE Neatorama…I hardly look at anything else, but I read you guys almost every day. Neatorama is nitid.

]]> By: Senior Taco http://www.neatorama.com/2008/10/08/10-american-financial-meltdowns-in-the-past-century/#comment-1077186 Senior Taco Wed, 08 Oct 2008 21:27:08 +0000 http://www.neatorama.com/?p=19368#comment-1077186 Correction: The rolling blackouts of the California Electric Grid started happening in 2000 and further deepened the Dot.com crash. They are NOT separate. They are very much related to each other. Correction: The rolling blackouts of the California Electric Grid started happening in 2000 and further deepened the Dot.com crash. They are NOT separate. They are very much related to each other.

]]> By: TheKeyLime http://www.neatorama.com/2008/10/08/10-american-financial-meltdowns-in-the-past-century/#comment-1077057 TheKeyLime Wed, 08 Oct 2008 19:47:07 +0000 http://www.neatorama.com/?p=19368#comment-1077057 THANK YOU! This is the first time someone has laid out financial mumbo-jumbo in a way that makes an iota of sense to me! I think I kind of maybe sort of understand what is happening now (maybe). Great article! THANK YOU! This is the first time someone has laid out financial mumbo-jumbo in a way that makes an iota of sense to me! I think I kind of maybe sort of understand what is happening now (maybe).

Great article!

]]> By: Moi http://www.neatorama.com/2008/10/08/10-american-financial-meltdowns-in-the-past-century/#comment-1077021 Moi Wed, 08 Oct 2008 19:34:24 +0000 http://www.neatorama.com/?p=19368#comment-1077021 This article is great. Kudos to Alex for posting it. It seems like money does make the world go round... and stop it at the same time. People need to take responsibility for their own actions but as demonstrated time and time again they just get a slap on the wrist and told never to do it again. This article is great. Kudos to Alex for posting it. It seems like money does make the world go round… and stop it at the same time. People need to take responsibility for their own actions but as demonstrated time and time again they just get a slap on the wrist and told never to do it again.

]]> By: Pol x http://www.neatorama.com/2008/10/08/10-american-financial-meltdowns-in-the-past-century/#comment-1076987 Pol x Wed, 08 Oct 2008 19:05:00 +0000 http://www.neatorama.com/?p=19368#comment-1076987 Ever occured that you guys aren't very good at this lark? Just as thought Ever occured that you guys aren’t very good at this lark?

Just as thought

]]> By: Christophe http://www.neatorama.com/2008/10/08/10-american-financial-meltdowns-in-the-past-century/#comment-1076986 Christophe Wed, 08 Oct 2008 19:01:41 +0000 http://www.neatorama.com/?p=19368#comment-1076986 Excellent article, thanks! I'd say : let's kick the SEC's and rating agencies butts to orbit. If those market watchers failed, where on earth is the 'police'? Excellent article, thanks!

I’d say : let’s kick the SEC’s and rating agencies butts to orbit. If those market watchers failed, where on earth is the ‘police’?

]]> By: BP http://www.neatorama.com/2008/10/08/10-american-financial-meltdowns-in-the-past-century/#comment-1076961 BP Wed, 08 Oct 2008 18:40:29 +0000 http://www.neatorama.com/?p=19368#comment-1076961 Take a look at this economists on how FDR prolonged the Great Depression. http://newsroom.ucla.edu/portal/ucla/FDR-s-Policies-Prolonged-Depression-5409.aspx?RelNum=5409 "Two UCLA economists say they have figured out why the Great Depression dragged on for almost 15 years, and they blame a suspect previously thought to be beyond reproach: President Franklin D. Roosevelt. After scrutinizing Roosevelt's record for four years, Harold L. Cole and Lee E. Ohanian conclude in a new study that New Deal policies signed into law 71 years ago thwarted economic recovery for seven long years. "Why the Great Depression lasted so long has always been a great mystery, and because we never really knew the reason, we have always worried whether we would have another 10- to 15-year economic slump," said Ohanian, vice chair of UCLA's Department of Economics. "We found that a relapse isn't likely unless lawmakers gum up a recovery with ill-conceived stimulus policies." In an article in the August issue of the Journal of Political Economy, Ohanian and Cole blame specific anti-competition and pro-labor measures that Roosevelt promoted and signed into law June 16, 1933." Take a look at this economists on how FDR prolonged the Great Depression.

http://newsroom.ucla.edu/portal/ucla/FDR-s-Policies-Prolonged-Depressi on-5409.aspx?RelNum=5409

“Two UCLA economists say they have figured out why the Great Depression dragged on for almost 15 years, and they blame a suspect previously thought to be beyond reproach: President Franklin D. Roosevelt.

After scrutinizing Roosevelt’s record for four years, Harold L. Cole and Lee E. Ohanian conclude in a new study that New Deal policies signed into law 71 years ago thwarted economic recovery for seven long years.

“Why the Great Depression lasted so long has always been a great mystery, and because we never really knew the reason, we have always worried whether we would have another 10- to 15-year economic slump,” said Ohanian, vice chair of UCLA’s Department of Economics. “We found that a relapse isn’t likely unless lawmakers gum up a recovery with ill-conceived stimulus policies.”

In an article in the August issue of the Journal of Political Economy, Ohanian and Cole blame specific anti-competition and pro-labor measures that Roosevelt promoted and signed into law June 16, 1933.”

]]> By: Mike D http://www.neatorama.com/2008/10/08/10-american-financial-meltdowns-in-the-past-century/#comment-1076959 Mike D Wed, 08 Oct 2008 18:36:24 +0000 http://www.neatorama.com/?p=19368#comment-1076959 Great article. Great article.

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