Why have thousands of U.S. banks failed over the years? The answers are in our history and politics.
Speculators caused a stock market crash in 1792, forcing the federal government to bail out New York bankers— and the nation
A nineteenth-century blueprint for the savings-and-loan scandal
S & L scandals, junk bonds, defaults—the pattern is familiar to anyone who knows about U.S. banking between 1830 and 1855.
A Scottish émigré became the most powerful man in the French government, and sold hundreds of thousands of shares in land holdings in the Mississippi Valley