Stock prices soar in 1928. Speculation is intense and consumers are caught in its lure, even borrowing in order to invest in the stock market. The alarming declines in stock market prices begin in October 1929 followed by temporary recoveries. J. P ...
The Panic of 1907 illustrates how little control the federal government has over the industrial economy. When the stock market goes into free fall, J. P. Morgan attempts to halt the panic by guaranteeing he "will cover all obligations." Conservative...