Archive for the 'John J. Raskob' Category

Chapter 3

Getting to Know You

A Quick Review of the Times and a Few of the Players

In 1921 per capita income in the USA was only $522, by 1928 it had grown to $628.
With as little as $100 an individual could purchase $1000 worth of stock on margin! For the relatively small number of people in the general population who understood the mechanics of this chicanery they were rewarded handsomely…up until September 1929.

Federal Reserve Chief Benjamin Strong


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