Word: went
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...know anything about football. "They've heard all the football things. What can be more intriguing to them is what you do." So together we crafted a story from journalism, and then, with nothing but a dream, grit and a connection at the NFL Network, I went off to try my speech on famous football players...
City Bank of New York was founded in 1812 by a group of merchants hoping to fill the void left by the demise of the first Bank of the United States, the sort-of central bank whose charter Congress had allowed to expire the year before. City nearly went under in the Panic of 1837 but was bailed out by the country's richest man, fur magnate John Jacob Astor. Astor's associate Moses Taylor built City into a bulwark of sound finance--big capital reserves, stingy lending standards--that bankrolled the Union during the Civil War and easily withstood...
...part to the huge stash of gold that Stillman had acquired--gold being the backing for credit then--because he sensed trouble. City joined J.P. Morgan in bailing out the nearly bankrupt Federal Government in 1895 and soon grew to be the country's biggest bank. Its growth went international in 1914, after City lobbied Congress to tweak the Federal Reserve Act and allow branches abroad. (See the best business deals...
With that growth came near disaster, as big loans to Cuban sugar planters went bad. What saved the bank was the salesmanship of Charles E. Mitchell, head of City's securities arm, who repackaged the bad Cuban debt--and went on in the 1920s to find ever more creative ways to sell securities and lend to the burgeoning middle class. Mitchell, who became president of the bank in 1921, built City into the first financial supermarket. When everything financial turned toxic in the early 1930s, he became the most prominent scapegoat for the disaster. He was the main target...
...once. The switchover will also free up a lot of space on the overcrowded airwaves. Some of it will be used for an improved post--Sept. 11, post-Katrina emergency-broadcast system (yes, even better than those color bars and that weirdly aggravating tone). The rest of it went to the highest bidder: last year, in the biggest government auction of all time, rights to much of the 700-MHz spectrum--known to you and me as UHF channels 52 through 69--were sold off for an astounding $19 billion. Verizon and AT&T were the big winners. What they...