Skip to main content

Follow the money


I bought this book a few years back but never got around to reading to it.  Maybe I should in honor of the founding of the New York Stock Exchange.

TRY a multiple choice question. Which phrase best describes Wall Street: (a) a den of thieves; (b) the engine room of innovation; (c) a conspiracy of oligarchs; (d) Babylon on the Hudson (e) the yellow brick road to a property-owning democracy?

In his rollicking history over two centuries, Steve Fraser nominates all of the above. He is notably assiduous. He plots the roller coasters of boom and bust from the panics of 1792, 1837, 1873 and 1893, through the Jazz Age and the Great Depression to the ''socially negligent and narcissistic'' second Gilded Age of the Reagan 80's and on to today's ''shareholder nation.'' 

Comments

Popular posts from this blog

O Pioneers!

It is hard not to think of Nebraska without thinking of its greatest writer.  Here is a marvelous piece by Capote, Remembering Willa Cather . I remember seeing a stage production of O Pioneers! and being deeply moved by its raw emotions.  I had read My Antonia before, and soon found myself hooked, like Capote was by the simple elegance of her prose and the way she was able to evoke so many feelings through her characters.  Much of it came from the fact that she had lived those experiences herself. Her father dragged the family from Virginia to Nebraska in 1883, when it was still a young state, settling in the town of Red Cloud. named after one of the great Oglala chiefs.  Red Cloud was still alive at the time, living on the Pine Ridge Reservation in South Dakota, in the aftermath of the "Great Sioux Wars" of 1876-77.  I don't know whether Cather took any interest in the famous chief, although it is hard to imagine not.  Upon his death in 1909, he was eulogi

The Triangle Shirtwaist Factory Fire

  Welcome to this month's reading group selection.  David Von Drehle mentions The Melting Pot , a play by Israel Zangwill, that premiered on Broadway in 1908.  At that time theater was accessible to a broad section of the public, not the exclusive domain it has become over the decades.  Zangwill carried a hopeful message that America was a place where old hatreds and prejudices were pointless, and that in this new country immigrants would find a more open society.  I suppose the reference was more an ironic one for Von Drehle, as he notes the racial and ethnic hatreds were on display everywhere, and at best Zangwill's play helped persons forget for a moment how deep these divides ran.  Nevertheless, "the melting pot" made its way into the American lexicon, even if New York could best be describing as a boiling cauldron in the early twentieth century. Triangle: The Fire That Changed America takes a broad view of events that led up the notorious fire, noting the gro

Colonel

Now with Colonel Roosevelt , the magnum opus is complete. And it deserves to stand as the definitive study of its restless, mutable, ever-boyish, erudite and tirelessly energetic subject. Mr. Morris has addressed the toughest and most frustrating part of Roosevelt’s life with the same care and precision that he brought to the two earlier installments. And if this story of a lifetime is his own life’s work, he has reason to be immensely proud.  -- Janet Maslin -- NY Times . Let the discussion begin!