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Put simply, Owen wanted government money, Glass, private bank notes. Also, Owen wanted the entire Federal Reserve Board to be appointed by the president; Glass thought some of the directors should be chosen by bankers.
Roger Lowenstein • America's Bank
He said this even though he personally was one of the reasons the government from time to time lacked for resources. Weill had, after all, been named by Time one of “25 People to Blame for the Financial Crisis,” because of his relentless push for a vision of banks as “all things to all customers,” and his “persistent lobbying,” ultimately
... See moreAnand Giridharadas • Winners Take All: The Elite Charade of Changing the World
When Clark died after a short illness in the spring of 1873, his brokers liquidated his UP holdings, causing a sharp price drop. Gould’s broker snapped it up, and Gould unexpectedly found himself in a control position. It was only at that point, he said, that he learned that the road had serious problems, including $5 million in unsecured call debt
... See moreCharles R. Morris • The Tycoons: How Andrew Carnegie, John D. Rockefeller, Jay Gould, and J. P. Morgan Invented the American Supereconomy
In 1970, we saw the first indication of the termination of the cycle, when a relatively small wave of inflation hit and Richard Nixon put a wage and price freeze on the economy to stabilize it. Any slight possibility of this working disappeared in 1973, when the Arab countries placed an embargo on the sale of oil to the United States following the
... See moreGeorge Friedman • The Storm Before the Calm: America's Discord, the Coming Crisis of the 2020s, and the Triumph Beyond
Le 15 mars, Jay Powell, le gouverneur de la banque centrale étatsunienne, la Fed, est contraint à un speech d’une ampleur équivalente au « quoi qu’il en coûte » de Mario Draghi. Le 18 mars, la BCE emboîte le pas et met en œuvre une injection gigantesque de liquidités dans le système financier via plusieurs facilités dont la principale est le
... See moreBenjamin Lemoine • La démocratie disciplinée par la dette (French Edition)
