crash of 1929

The Great Crash of 1929 vs. The Panic of 2008

There is no doubt that the weeks we are living through now will be remembered and studied in the decades to come. In this post I compare and contrast our crisis with the great crisis of 1929 and thereafter.

After it initially appeared that financial hemorrhaging had been staunched, in rapid succession long-standing titans of American finance -- Fannie Mae, Freddie Mac, Lehman Brothers, Merrill Lynch, AIG, and more likely than not Washington Mutual and Wachovia Bank -- all have failed in one way or another.