The South Sea Bubble ended in riots as trust was lost. Wall Street also duped the public
Larry Elliott, economics editor
The Guardian,
Monday March 17 2008
This article appeared in the Guardian on Monday March 17 2008 on p30 of the Financial section. It was last updated at 00:05 on March 17 2008.
Bear Stearns marks the moment when the global financial crisis went critical. Up until last Friday, it had been possible - just about - to believe that the worst was over and that things were about to get better. That pretence was stripped away when JP Morgan, at the behest of the Federal Reserve, stepped in when the hedge funds pulled the plug on the fifth-biggest US investment bank .... Read the Entire Article
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