TopHatInc t1_iw5nzd0 wrote on November 13, 2022 at 3:40 AM Reply to comment by Scrivener-of-Doom in TIL JP Morgan bailed out banks in 1907 but a severe recession occured anyway. Nelson Aldrich, a powerful senator with close ties to Morgan, led a mission to Europe in 1908 to study the workings of the central banks in England, France and Germany. The Federal Reserve was created a short time later by mankls3 ...it works as designed. Permalink Parent 49
TopHatInc t1_iw5nzd0 wrote
Reply to comment by Scrivener-of-Doom in TIL JP Morgan bailed out banks in 1907 but a severe recession occured anyway. Nelson Aldrich, a powerful senator with close ties to Morgan, led a mission to Europe in 1908 to study the workings of the central banks in England, France and Germany. The Federal Reserve was created a short time later by mankls3
...it works as designed.