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Pundits will argue that the 2008 financial crisis was the first crash in American history driven by consumer debt. But in this spirited, highly engaging account, Scott Reynolds Nelson demonstrates that consumer debt has underpinned almost every major financial panic in the nation’s history. From William Duer’s attempts to profit off the country’s post-Revolutionary War debt to an 1815 plan to sell English coats to Americans on credit, to the debt-fueled railroad expansion that precipitated the 1857 crash: in each case, the chain of banks, brokers, moneylenders, and insurance companies that separated borrowers and lenders made it impossible to distinguish good loans from bad. Bound up in this history are stories of national banks funded by smugglers, fistfights in Congress over the gold standard, America’s early dependence on British bankers, and how presidential campaigns were forged in controversies over private debt. An irreverent, wholly accessible, eye-opening book.
Pundits will argue that the 2008 financial crisis was the first crash in American history driven by consumer debt. But in this spirited, highly engaging account
The consequences of deadbeat parents can be significant and wide-ranging, including: Financial hardship for the custodial parent and children: Lack of child sup
On the run from the mob, a trio of 1920's Chicago Jazz musicians take a job from an elderly reverend, playing for what they think is his wife's funeral in the b
If you're tired of excuses, fed up with "The check's in the mail" and sick of seeing your kids go without, Deadbeats will take you step-by-step through the proc
Cody Jones owes the corp a lot of money. Decanted from a cryotube with a mountain of debt and very few options, she works corporate black ops in Downside—home