I have always understood history will repeat itself.

If that is true, then during the early to mid-20's, there must have been a few Enron & WorldCom scandals; trials, some people in the hoosegow, CONgressional investigations, buying on margin (watered down stock), etc, just like we've been seeing.

There must have been major attempts by gov't's to stem the flow of financial bloodletting. All during the Hoover Administration.

Then FDR came into office. I seem to recall the first thing that he did, was a "3 week Bank Holiday". It lasted 3 weeks for auditors to check every bank's books and give them a passing/ok to reopen grade or a failing/shutdown for good grade.

I'm sure there are some "financial history buffs" out there. Does that sound like the way that history has it recorded?

I "wonder" what steps the Fed might take next, to stop the downward spiral????

Can we keep the politics and sidetracks out of this post????


Edited for punctuation/wm8