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"Financial Markets"
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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Join us for a screening of the new PBS documentary, Rediscovering Alexander Hamilton, with commentary by producer/director Michael Pack.
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Charles Rappleye will speak on his new book, Robert Morris: Financier of the American Revolution. Feel free to bring your lunch.
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The Museum's 90-minute holiday-themed walking tour of Wall Street.
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Please join us for a Lunch and Learn event with Abraham Briloff, the foremost authoritative commentator on accountancy matters in the US.
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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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The Museum's 90-minute walking tour of the Financial District.
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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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How the colonial real estate crisis of the 1760s turned Sheriff John Morton into a rebel.
The Museum's 90-minute walking tour of the Financial District, focusing on the history of financial scandals.
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"America’s First IPO” is an exhibit on the country’s first public company, the Bank of North America, and the origins of the US stock market. It features some of the nation’s most important founding financial documents.
The Museum's 90-minute walking tour of the Financial District.
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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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Bring the family to the Museum's “Kids Club” event, which will feature fun money-themed activities and programs for children in grades K-12.
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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 with a focus on Hamilton and his contributions to American finance.
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Howard Hopkins, Director of Energy Products at CME Group, and Paul Hughes, Senior Analyst within Business Development for CME Group, will discuss the past, present and future of energy trading.
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The Museum's 90-minute walking tour of the Financial District.
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The June 2010 edition of History Now, the electronic newsletter of the Gilder Lehrman Institute of American History, features an interactive presentation of the "Scandal!" exhibit as well as an article by Museum Chairman Dr. Richard Sylla.
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.
The Museum's 90-minute walking tour of the Financial District, focusing on the history of financial scandals.
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Join us for a lunchtime event with Dr. Warren Richman, owner of Alexander Hamilton’s powderhorn, who will present his interpretation of the symbolism on the powderhorn.
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Please join the Museum's Young Leadership Council for a young professionals networking event and private viewing of hidden treasures from the Museum’s collection.
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Alexander Hamilton, first Secretary of the US Treasury, is also founder of the US Coast Guard. Join us for this and other fascinating facts about the history and impact of the maritime and commercial shipping industry on the rise of Wall Street.
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The Museum's 90-minute walking tour of the Financial District, focusing on Wall Street's architecture.
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A new exhibit at the Museum of American Finance examines the scandals of Wall Street, past and present. Reuters TV's Bobbi Rebell reports.
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.
Coming at the heels of the SEC’s fraud probe into Goldman Sachs, the Scandal! exhibit at the Museum of American Finance, which opened Thursday, seems eerily well-timed.
"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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The Museum's 90-minute walking tour of the Financial District, with an emphasis on the Revolutionary period. Tour participants will be admitted free of charge to the Lunch and Learn Series event at 12:30 pm.
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Marc Chandler, Global Head of Currency Strategy for Brown Brothers Harriman and author of Making Sense of the Dollar: Exposing Dangerous Myths About Trade and Foreign Exchange, will speak at the first event in the Museum's 2010 Henry Kaufman Series.
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This 90-minute walking tour of the Financial District focuses on Alexander Hamilton's contributions to financial history.
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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."
Speaking at the Museum of American Finance on Wall Street, Governor Paterson offered a sympathetic voice to the much-maligned financial sector.
Gov. David Paterson discusses New York's troubled economy with CNBC's Scott Cohn at the Museum of American Finance.
The Museum's 90-minute holiday-themed walking tour of Wall Street.
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Join us for a sneak peek screening of "Floored," a feature-length documentary about the up and down lives of traders. Screening will be followed by Q&A with Director James Allen Smith and reception.
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Author Tom Fleming will speak about his forthcoming book, The Intimate Lives of the Founding Fathers.
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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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Join us for a Brown Bag Lunch with Woody Holton, author of Abigail Adams (2009), for a talk on one of the women featured in the "Women of Wall Street" exhibit.
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Discover the female power brokers who have shaped the history of Wall Street with this 90-minute tour of the Financial District.
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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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"Actien Handel" (which means share trading) is a celebration of the financial ties between the United States and the Netherlands, and focuses on how intricately linked the two nations were in the 17th and 18th centuries.
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.
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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Krawcheck, the former Citigroup star who joined BofA in August to head its Global Wealth and Investment Management unit, told a story last evening in an on-stage conversation with Fortune magazine's Carol Loomis at the Museum of American Finance.
Join us for a conversation with one of the groundbreaking women featured in the Museum’s “Women of Wall Street” exhibit.
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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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Discover the female power brokers who have shaped the history of Wall Street with this 90-minute tour of the Financial District.
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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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Please join us for a reception to open “Actien Handel: Early Dutch Finance and the Founding of America.” This event is free and open to the public.
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The Museum of American Finance is showcasing 10 famous Wall Street women.
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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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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A representative from the CME Group will present an interactive demonstration of open out cry trading.
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Museum of American Finance exhibit takes a look at the female wheeler-dealers who broke into the exclusive boys' club.
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 tour of the Financial District.
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Walking tour of the Financial District with a focus on Hamilton and his contributions to American finance.
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Walking tour of the Financial District with a focus on Alexander Hamilton and his contributions to financial history.
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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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Learn about the history of the New York Mercantile Exchange (NYMEX) and its role within the world’s largest futures exchange, CME Group. Feel free to bring your lunch.
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Former NYMEX President Rosemary McFadden speaks to Fox Business about the Museum's new exhibit.
Reception to open the Museum's groundbreaking new exhibit, "Women of Wall Street."
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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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These past two years have not been kind to the women on Wall Street. Nonetheless, women will show up in force next Tuesday for the opening reception for the new “Women on Wall Street” exhibit.
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 first event in our monthly "Brown Bag Lunch Series" featuring Doreen Mogavero, president and CEO of Mogavero, Lee & Company., Inc.
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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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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 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 monthly Saturday walking tour of the Financial District. 90-minute tour meets at the Museum at 1 pm. $15 per person.
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Private equity investor Wilbur Ross will provide a review of President Obama’s proposed domestic and international economic initiatives, assess them, and compare them with those of the Bush administration.
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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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The Museum's monthly walking tour of the Financial District. 90 minute tours meet at the Museum at 11 am and 1 pm. $25 per person.
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The Museum's monthly walking tour of the Financial District. 90 minute tours meet at the Museum at 11 am and 1 pm. $25 per person.
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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.
The Museum's monthly walking tour of the Financial District. 90 minute tours meet at the Museum at 11 am and 1 pm. $25 per person. Rain or shine.
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The Museum's monthly walking tour of the Financial District. 90 minute tours meet at the Museum at 11 am and 1 pm. $25 per person. Rain or shine.
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Opening reception for “Trading on the Street," an exhibit tracing the history of trading on Wall Street from the signing of the Buttonwood Agreement in 1792 to the increasing computerization of trading today.
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Panel discussion on the financial crisis from a US and UK perspective.
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Economic problems -- including the stock market crash; banking failures; the housing meltdown; the Treasury bail-out; job losses; the actions of the Federal Reserve -- collectively constitute Issue No. 1 for the American people. How they are being discussed by the Presidential candidates and how the media is covering those discussions will make for a spirited session by some experienced journalists.
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Explore Wall Street's history on the anniversary of the Stock Market Crash of 1929 with this tour of the Financial District.
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Lecture, book signing and reception with James Grant, guest editor of the 75th Anniversary Edition of Benjamin Graham's classic "Security Analysis."
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How do art dealers, auction houses and specialized lenders support art acquisitions? Please join us at the Museum of American Finance for a lively panel discussion on financing the art market.
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Talk, exhibit tour and book signing with Ken Winans, author of "Investment Atlas." Free admission. Reservations recommended.
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When the U.S. housing bubble fully burst in 2007 and home prices dropped, 1.25 million subprime mortgages foreclosed, up 80% from 2006. Projections of 2.5 million foreclosures for 2008 seem likely. Over $1 trillion in subprime mortgages will likely be revalued at 60-80% of their original value before the home mortgage crisis and subsequent, but related, credit crisis is worked through.
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."
Since its inception in 1886, Sears has issued many glossy publications filled with numbers and descriptions. Most of those have been catalogues, with dazzling copy written by Richard Sears himself. But exactly 100 years ago the firm issued a different publication filled with numbers and descriptions: its first annual report.
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.
Historical analysis reveals that Graham's contributions to investment "theory" were less significant for their originality than for their synthesizing quality. His actual contribution was to bring together and focus currents in investment thought already in existence. To appreciate that vital contribution and place his legacy in perspective, we must examine how conceptions of investing changed during the early 1900s.
Cutthroat deals, take no prisoners, war rooms; the language of combat is often used to describe the world of business. But throughout history, the cliched comparison has been no mere metaphor for many stock exchanges. The crippling or disruption of exchanges by wars is nothing new, from the New York Stock & Exchange Board (today's NYSE) suspending trading in seceding states in 1861, to the arduous history of the Belgrade Stock Exchange, to the 1983 suspension of the Beirut Stock Exchange after nearly a decade of civil war in Lebanon. It reopened in 1995.
In this trenchant and provocative examination of the American way of empire, acclaimed author and historial Niall Ferguson ranges across the entire history of America's foreign entanglements, and delves into all the different dimensions of American power -- military, cultural, economic and political.
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Capital markets are wondrous things. No nation with a good one is poor; no nation without one is rich, unless one counts as wealth the income reaped by the temporary exploitation of oil and gold, blood and bone. Alas, institutions as complex as capital markets do not usually arise of their own accord. To flourish, as they have in America, they typically require, at a minimum, political stability and a helpful hand from on high. Alexander Hamilton provided both.
Bhagwati, a former adviser to the U.N. on globalization, sets out to show that "this process has a human face, but we need to make that face more agreeable." Drawing on references from history, philosophy and literature as well as some "state of the art econometric analysis," he sets out to prove that the antiglobalization movement has exaggerated claims that globalization has done little good for poor countries.
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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.
Ron Chernow, whom The New York Times has called "as elegant an architect of monumental histories as we've seen in decades," brings to startling life the man who was the principal designer of the federal government, the catalyst for the emergence of the two-party system, the patron saint of Wall Street, and the object of ardent idolatry as well as vehement loathing by his peers.
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MacDonald, a former investment banker, examines the historical linkage between political freedom and public debt, showing why representative governments have been able to borrow more cheaply from citizen lenders than autocratic heads of state who do not consider their citizens to be equals.
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In The Number, New York Times reporter Alex Berenson provides a comprehensive overview of how Wall Street and corporate America lost their way during the great bull market that began in 1982.
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On August 12, 1984, Peter Ueberroth stood in the Los Angeles Coliseum during the Olympic closing ceremonies, tears escaping his usually tight control as the 93,000-member audience stood and cheered. Other honors would follow, including recognition from "Time" as the magazine's Man of the Year, over President Ronald Reagan. Neither an athlete nor a statesman nor a celebrity, Ueberroth was a middle-aged entrepreneur from Southern California, a self-made man who had, in large part, made the Games of the 23rd Olympiad happen -- and not only happen, but succeed on a spectacular level. In doing so, he changed many of the financial rules by which the Olympics had been played.
Now that the fossil record clearly shows that some dinosaurs evolved into birds, it should not be such a surprise that almost all of the first 12 companies on the Dow Jones Industrial Average (DJIA) are still around. Their names reek of turn-of-the-century incipient industrialism: Tennessee Coal & Iron, American Cotton Oil, Distilling & Cattle Feeding. But well into the Information Age, only one on the debut list of May 26, 1896 is entirely gone. The U.S. Leather trust, the only preferred issue of the first Dow Dozen, was dropped in 1905. The trust was dissolved in 1911, and hardly a trace of the company or the industry remains in this country.
In Martin Fridson's book, "It Was a Very Good Year: Extraordinary Moments in Stock Market History," 1954 ranks as the second best year of the 20th century for market returns as measured by the Standard & Poor's 500 Index (52.62 percent). It was also the year that the Dow finally regained its pre-1929 high of 381.37 and soared past the 400 mark for the first time. Fridson also notes the arrival of Muriel Siebert on Wall Street in 1954. Siebert, who established a successful career in a male-dominated industry, is probably best known as the first woman to own a seat on the New York Stock Exchange (NYSE). Siebert was not the typical career woman of the 1950s, but her struggle to overcome prejudice and discrimination on Wall Street caused us to wonder: What does it take for a woman to achieve prominence and respect on Wall Street?
Today, in a world in which news flashes around the globe in an instant, time lags are inconceivable. In the mid-19th century, communication between the United States and Europe -- the center of world affairs -- was only as quick as the fastest ship could cross the Atlantic, making the United State isolated and vulnerable. But in 1866 the Old and New Worlds were united by the successful laying of a cable across the Atlantic.
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The British Empire was the largest in all history: the nearest thing to global domination ever achieved. The world we know today is in large measure the product of Britain's Age of Empire.
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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.
One out of every two beers sold in the U.S. is brewed by Anheuser-Busch of St. Louis, MO. The family-run company traces its origins to the 1860s, but 2002 marks the first time in the company's 142-year history that its president and chief executive will be a non-family member.
The development of underwriting syndicates is a phenomenon of late 19th century America arising out of the need for investment banks to pool their own capital to underwrite the new issue securities being sold to fund the growth of American industry. The railroad, steel, mining and utility industries all had significant capital requirements.
Long before Enron, Samuel Insull, Richard Whitney and Charles Keating were bilking investors out of millions, infuriating investigators, embarrassing politicians and forever endearing themselves to headline-hungry journalists.
A classroom guide to the "Alexander Hamilton" exhibit, including learning objectives, vocabulary, discussion questions and a classroom activity.
A classroom guide to "The Financial Markets" exhibit, including learning objectives, vocabulary, discussion questions and a classroom activity.
Exhibit-based games and activities for students in grades K-5.
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.