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"Crashes and Panics"
“Checks & Balances: Presidents and American Finance” illuminates the financial challenges faced by American Presidents both in the Oval Office and in their personal lives. Now showing at the Museum of American Finance through November 2012.
Help relive the Great Crash of 1929 on the 24th annual guided walking tour of Lower Manhattan. This unique walking tour, which is the only regularly scheduled event that commemorates the Great Crash of 1929, the Panic of 1907 and the 1987 stock market collapse, delves into the political, financial, real estate and architectural history of Wall Street and New York City.
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The Museum's 90-minute walking tour of the Financial District, focusing on the history of Wall Street from the Dutch settlement to today.
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To commemorate the anniversary of the Crash of 1929, "Scandal!" exhibit curator Marc Hodak will speak on "A History of Scandal" at this Kaufman Series event.
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The Museum's 90-minute walking tour of the Financial District, focusing on the history of financial scandals.
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The Museum's 90-minute walking tour of the Financial District, focusing on the history of financial scandals.
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“Scandal! Financial Crime, Chicanery and Corruption That Rocked America,” up now at the Museum of American Finance, is a little time-tunnel survey of mostly historic scams perpetrated on unsuspecting investors.
The Museum's 90-minute walking tour of the Financial District, focusing on the history of financial scandals.
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The Museum's 90-minute walking tour of the Financial District, focusing on the history of financial scandals.
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The financial misdeeds of Enron executives and Bernard L. Madoff seem to have a modern-day cast to them, but when you strip them to their essentials, they are really nothing new. An exhibition at the Museum of American Finance highlights major financial scandals throughout the nation’s history.
The Museum's 90-minute walking tour of the Financial District.
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A history of Ponzi schemes, from Charles Ponzi to Bernie Madoff.
On the occasion of their new books, Roubini's Crisis Economics and a revised edition of Taleb's Black Swan, we brought our doubty doomsters together recently at New York's Museum of American Finance to look back and ahead.
Although the Museum of American Finance is set in a Wall Street landmark, the former Bank of New York building, it doesn't balk at indicting the financial world's bad apples.
Leena Akhtar, the Museum's director of exhibits and archives and the co-curator of the "Scandal!" exhibit, reviews the new Broadway play "Enron" for BBC Radio.
"Scandal! Financial Crime, Chicanery and Corruption that Rocked America” is a richly informative exhibit about the history of financial scandals in America. The exhibit covers several of the major scandals in American finance, from William Duer’s role in the Crash of 1792 through Lehman’s colossal downfall.
The Museum's 90-minute walking tour of the Financial District, focusing on the history of financial scandals.
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The Museum's 90-minute walking tour of the Financial District, focusing on the history of financial scandals.
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The Museum's 90-minute walking tour of the Financial District.
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The Museum's 90-minute walking tour of the Financial District.
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Thirteen Forum's coverage of the Museum's expert panel on the 80th anniversary of the Crash of 1929.
The Museum's 90-minute holiday-themed walking tour of Wall Street.
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"Wall Street is our Main Street," Paterson declared yesterday to applause as he discussed the state's budget crisis at the Museum of American Finance.
Gov. David A. Paterson went to [the Museum of American Finance] on Wall Street on Wednesday, not to pillory financiers, but to praise them.
Speaking at the Museum of American Finance, Governor Paterson said New York is on the brink of fiscal disaster, calling the state "ground zero for the recession."
Gov. David Paterson discusses New York's troubled economy with CNBC's Scott Cohn at the Museum of American Finance.
Lawrence McDonald, a leading financial lecturer, will speak on his bestselling book, A Colossal Failure of Common Sense: The Inside Story of the Collapse of Lehman Brothers.
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The Museum's 90-minute walking tour of the Financial District.
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Best-selling author Charles Geisst speaks at the 2009 Kaufman Series on his new book, Collateral Damaged: The Marketing of Consumer Debt to America.
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Should the U.S. government, or any government for that matter, use public money to stabilize a disintegrating financial system? Theory backed by historical experience suggests that it should, but only if it does so in just the right way.
What you really need is a bit of perspective, and that is to be found at the Museum of American Finance.
The Museum of American Finance and the New School for Social Research present an expert panel on the different explanations of the current crisis on the 80th anniversary of the Crash of 1929.
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Help relive the Great Crash of 1929 on the 21st annual guided walking tour of Lower Manhattan. This unique walking tour, which is the only regularly scheduled event that commemorates the Great Crash of 1929, the Panic of 1907 and the 1987 stock market collapse, delves into the political, financial, real estate and architectural history of Wall Street and New York City.
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A recently launched website from New York's Museum of American Finance, www.recessipedia.org, seeks to foster understanding of the causes of the crisis, with first-person accounts by ordinary people and professionals.
Join us for a Brown Bag Lunch with Ray Raphael, author of Founders: The People Who Brought You a Nation (2009), for a talk on "THE Financier: Robert Morris, America's Original Bailout Czar."
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The Museum of American Finance today launched a new site dubbed Recessipedia, which borrows Wikipedia’s underlying technology and wisdom-of-crowds concept to tackle the relatively narrow topic of the recent recession.
Decades of privatization have shifted the burden of risk from government and institutions to individuals and families. As a result, many Americans now find themselves unable to cope with the financial strains of employment and investment insecurity, as well as the costs of health care and pension financing.
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In The Road to Financial Reformation, Henry Kaufman provides an insightful account of how we created the current financial crisis and what needs to be done to put our derailed economy back on track.
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Join us for a screening of "We All Fall Down," the award-winning documentary on the current housing and mortgage crisis.
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The Museum of American Finance was faced with an awkward situation recently: some of the corporate sponsors of the museum — dedicated to glories of free markets — had, well, failed.
Walk through history from the Dutch to modern day Wall Street on this 90-minute walking tour of the Financial District.
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Learn about the drivers of the global financial crisis, from housing and commodities to credit and currencies.
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Discover the female power brokers who have shaped the history of Wall Street with this 90-minute walking tour of the Financial District.
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The Museum's Saturday walking tour of the Financial District. 90-minute tour meets at the Museum at 1 pm. $15 per person.
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The Museum's Saturday walking tour of the Financial District. 90-minute tour meets at the Museum at 1 pm. $15 per person.
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At the Museum of American Finance, visitors are clamouring for a take on the current economic situation.
The Museum's Saturday walking tour of the Financial District. 90-minute tour meets at the Museum at 1 pm. $15 per person.
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The Museum's Saturday walking tour of the Financial District. 90-minute tour meets at the Museum at 1 pm. $15 per person.>
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Jean Strouse is the author of Morgan, American Financier and Alice James, A Biography, which won the Bancroft Prize in American History and Diplomacy.
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The Museum of American Finance isn't wasting any time and has already established a credit crisis exhibit.
The Museum of American Finance, a relatively-young museum found at the heart of New York’s Financial District, opened a new exhibit last week entitled “Tracking the Credit Crisis: A Timeline,” as the first exhibit to spotlight the ongoing global financial event that began some 18 to 24 months ago.
The Museum's Saturday walking tour of the Financial District. 90-minute tour meets at the Museum at 1 pm. $15 per person.
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NPR - The Museum of American Finance has a new exhibit called "Tracking the Credit Crisis." It is basically a timeline displaying the major events of the global economic crisis, from the collapse of Lehman Brothers to the decision to save AIG.
On Wednesday, March 25 at 10:30 am, the Museum will host a press conference to open “Tracking the Credit Crisis: A Timeline,” an exhibit tracing the development of the current financial crisis.
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The Museum of American Finance's new exhibition, "Tracking the Credit Crisis," starts its timeline in February 2007 when Mortgage Lenders Networks USA, the nation's 15th largest subprime lender, filed for bankruptcy, and tracks the fall of other firms to the present day.
The Museum's Saturday walking tour of the Financial District. 90-minute tour meets at the Museum at 1 pm. $15 per person.
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NYSE Euronext CEO Duncan Niederauer speaks at the Museum's 2009 Henry Kaufman Lecture/Symposia Series on "Where Do We Go From Here?"
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The economy is in disarray and the U.S. Treasury will need to raise at least $1.5 trillion in 2009. Our panel of renowned commentators will provide insights, perspective, and prospects.
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While we have all heard the phrase "history repeats itself," very few people properly apply long-term history to investing. Worse yet, the default assumption of most investors is to think it's different this time and find themselves buying into financial bubbles or cashing out near a bear market low. Clearly, investors need to spend more time studying investment history. A good place to start is by studying past market corrections and what happened during the years that followed.
Panel discussion on the financial crisis from a US and UK perspective.
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Taking a long-run view of the development of financial services, Professor Ferguson argues that evolutionary forces are as much at work in the realm of money as they are in the natural world. As the subprime mortgage crisis works its way through the global financial system, the coming months will determine how far, in terms of its economic impact, the current crisis is a true "ice age" as opposed to just a severe winter.
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The Museum commemorated the centennial anniversary of the Panic of 1907 with a symposium featuring prominent authors and historians followed by a keynote address by Federal Reserve Governor Frederic Mishkin.
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To understand fully the Crash and Panic of 1907, one must consider its context: it was a time somewhat like the present. A Republican moralist was in the White House. War was fresh in mind. Immigration was fueling dramatic changes in society. New technologies were changing people's everyday lives. Business consolidators and their Wall Street advisers were creating large, new combinations through mergers and acquisitions, while the government was investigating and prosecuting prominent executives -- led by an aggressive young prosecutor from New York. The public's attitude toward business leaders, fueled by a muckraking press, was largely negative. The government itself was becoming increasingly interventionist in society and, in some ways, more intrusive in individual life. Much of this was stimulated by a postwar economic expansion that, with brief interruptons, had lasted about 50 years, although in recent months a major natural disaster had disturbed the equilibrium of the nation's fragile financial system. As Mark Twain supposedly said, "History may not repeat itself, but it occasionally rhymes."
Wall Street suffered its first crash in March 1792. In a matter of weeks, U.S. government securities comprising the national debt lost a quarter of their value. Shares of the Bank of the United States, founded in 1791, fell 30 percent. Shares of the new Society for Establishing Useful Manufactures fell 45 percent. A more seasoned issue, Bank of New York shares, declined just under 20 percent. Defaults and bankruptcies were numerous. As confidence and trust collapsed, a pall fell over New York and, to a lesser extent, the Philadelphia and Boston securities markets. But potentially damaging economic consequences of the panic were avoided, it is now quite clear, by very modern central-bank-like interventions orchestrated by Secretary of the Treasury Alexander Hamilton.
In 2004, Americans celebrate, if that is the right word, the 75th anniversary of the Great Stock Market Crash of 1929. There had been market crashes before 1929. And there were crashes after 1929. But 1929 is still considered "The Big One." How did the Great Crash develop in 1929? What did we think of it as its 25th and 50th anniversaries in 1954 and 1979? And how might we view it now, at its 75th? Exploring these questions, I conclude that we need to forget some of what "everyone knows" about the Crash of '29.
Back when the United States was primarily a primarily an agrarian society, the banker, the doctor, the preacher, the lawyer and, in a way, the bar owner, were the enduring pillars of each town. It was the town banker, however, who enabled the farm-centric communities to survive and thrive.
2004 marked the 20th anniversary of the re-emergence of securities trading in the People's Republic of China. In 1984, the government approved the issuance of the first publicly issued stock since 1949. The issuing company was the state-owned Beijing Tian-Quio Department Store, which issued a three-year fixed interest rate stock that resembled a three-year bond in Western financial markets. Beginning in 1990, China also permitted the establishment of 24 regional stock exchanges to trade the slowly expanding number of new shares. In late 1990, China formally re-established two fully functioning national stock exchanges, one in Shanghai and one in the southern Chinese city of Shenzhen. All Chinese share trading was gradually moved to these two exchanges, beginning in late 1990. After 12 years of rapid growth, China again became a major stock market in the Far East, third in size after Japan and Hong Kong.
How a Group of Business Students Sold Enron
a Year Before the Collapse
It is Wall Street lore that no one saw the collapse of Enron coming. Chairman Kenneth Lay, CFO Andrew Fastow, COO Jeffrey Skilling and their band of brigands had done such a good job of fooling accountants, auditors, investors and regulators that the implosion was a shock to all. Like much received wisdom on Wall Street, this is not entirely true.