Financial Crises Past and Present

OPB | Sept. 26, 2008 midnight | Updated: Sept. 10, 2013 8:44 p.m.

A trip down memory lane to put the latest financial troubles in historical context.

In just a matter of days the country went from coming to terms with the seriousness of the economic crisis, to Congress getting close to reaching a decision about the bail out bill. Two days ago we had, basically, Bailout 101, an hour focused on clearing up confusion about the Administration’s proposal.

We?re taking a different tack tomorrow, looking through the lens of history as a way to understand the current economic crisis.

How do our country?s financial problems fit into history? Are they comparable to the 1792 panic? Or 1929? Or 1987? What can we learn from past economic crises that might inform the debate in 2008? And in what ways does the global gobble of chopped up sub-prime mortgages leave us in uncharted territory?

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