Word: depressionitis
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Dates: during 1950-1959
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TESTIFYING before the Senate Finance Committee, George M. Humphrey made an unusual admission for an outgoing Secretary of the U.S. Treasury. The nation's finances, he agreed, were "in a mess" when he took office in 1953-and they are still in a mess. Democrats went much farther, cried...
As National Steel's boss. Weir set out to finance its lively ambitions. "I wanted $40 million at a time when that money looked like the national debt. I got it, not from Wall Street, but from Main Street." Instead of turning, like other steelmen, to J.P. Morgan & Co...
In the heyday of foreign bond speculations in the '20s, Latin American governments floated ever larger issues at interest as high as 8% on the U.S. market, and many banks turned to cajolery and a few even to bribes to handle the business. With the Depression, Latin countries defaulted...
Golfers & Speculators. On the green acres of four nearby courses, golfers yearned to mix business with pleasure. In no time, the price of memberships shot up so high that some are now more expensive than seats on the Pacific Coast Stock Exchange. The price at the Los Angeles Country Club...
"After such knowledge, what forgiveness?'' asked T. S. Eliot as he entered the dry season of 1920. At about the same time, another American writer who devoted his life to illuminating this bleakly ruthless question was growing up. Manhattan-born Nathan Weinstein. who later went by the name...