The parallels between the recent financial meltdown and that of 1929 are striking. In both cases a financial bubble burst and led to a run on the banks. Both times the Federal Reserve made huge mistakes. So how close did we come to another Great Depression? In this hour of To the Best of Our Knowledge we'll talk about debt and runaway capitalism, and the four men who controlled the world's money supply back in the 1920s.
Liaquat Ahamed talks about the parallels between the recent financial meltdown and the events that led up to the Great Depression. Both situations involved bubbles, and errors by the Federal Reserve System.