Glass-Steagall folklore ... debunked. (Glass-Steagall Banking Act of 1933)(includes related article on Carter Glass)

From: ABA Banking Journal | Date: September 1, 1991| Author: | Copyright information

That is the one story that everybody knows about the great Wall Street Crash of 1929'?

It's this: During and immediately after the crash, many titans of finance, speculators, and ordinary investors found they were ruined and hurled themselves from high windows to the streets below.

The trouble is, it never happened. As economist John Kenneth Galbraith detailed in his book, "The Great Crash, 1929," an examination of suicide statistics for the year 1929 shows suicides, both in New York and nationally, were actually higher during the months that immediately preceded the ...

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