Word: raskob
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Dates: during 1980-1989
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...cash. About one-third of the nation's more than 3 million stockholders were playing the market on margin, and people at dinner parties kept telling stories about barbers or messenger boys who had kept their ears open, bought on margin and become millionaires. John J. Raskob, who had been a director of General Motors and was now the Democratic Party chairman, published an article titled "Everybody Ought to Be Rich." The jazz age would never end. What almost nobody seemed to notice was that while the leading stocks kept climbing, many others did not. Celanese, for example, had dropped...