Tuesday, December 7, 2010

Financial Crisis: Just One of Many

Just another one of many: some folks have likened this latest financial crisis to the Great Depression, or at least billed it as the worst financial crisis since then. It may have been as much or more like the Panic of 1873.

Of course, parts of the Panic of 1857 sound really familiar too: "...by July 1856, banks began to lend far more money than they could back up..."

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