Word: crashing
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Dates: during 1920-1929
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...Democrats were not inclined to criticize Mr. Raskob because of the stock market, Republicans were. Last fortnight in the Senate, Democratic Leader Robinson of Arkansas attributed in part the recent market crash to a flow of unduly optimistic statements from Calvin Coolidge, Herbert Hoover, Andrew William Mellon. Defending the Republicans, Senator Robinson of Indiana rose to blame Mr. Raskob for the frenzy of speculation. He called Mr. Raskob a "plunger," cited Mr. Raskob's published faith in stocks, his plans for a workers' investment trust, his null General Motors statement (TIME, Feb.11) as public inspirations to gambling, responsible...
...more than any fifty men, is responsible for this stock crash," wrote Senator Carter Glass of Virginia last week to the Philadelphia Record. He?Charles Edwin Mitchell, head of National City-Bank?made no reply. Hostility of Senator Glass was an old story; besides, Mr. Mitchell had serious troubles to cope with. The still ominous market; the cancelled Corn Exchange merger; the rumored differences with his directors?Mr. Mitchell's position was carrying hazards with its honors...
...when he pulled the call money market through a tight place, he received general kudos (though it was then that Senator Glass first began to reflect upon "Mitchellism," its nature and evils). But in October Mr. Mitchell arrived home from Europe just in time to anticipate the greatest Market crash in history with a bullish pronouncement. When the banking consortium was formed to halt the panic, it was the House of Morgan that received most of the plaudits; furthermore the bankers did not precisely drop the panic in its tracks...
Experience, said Oscar Wilde, is the name men give to their mistakes. Although there could be no general agreement as to whether or not the Stockmarket crash of Oct. 23 et seq. was a mistake, last week found most economists and many a businessman looking for the "lesson...
Most U. S. businessmen, however, believed that the price of Ford cars was reduced so that they would still be attractive to small investors who lost in the stock market crash crisis. Great was their admiration for timely and brilliant advertising...