Capitalism’s Fascist Temptation | Portside

In 1928, U.S. Treasury Secretary Andrew Mellon pushed the Federal Reserve Board to aggressively hike interest rates to control inflation and credit-fueled stock market speculation. They did, and, as a result, the New York Stock Exchange suffered the worst crash in its history in October 1929.

Source: Capitalism’s Fascist Temptation | Portside

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s