“…The mania finally ended, Mackay says, with individuals stuck with the bulbs they held at the end of the crash—no court would enforce payment of a contract, since judges regarded the debts as contracted through gambling, and thus not enforceable by law.” Wikipedia’s Featured Article for today.
Very funny, folks.
Lyrics to sing along here.
Entire post lifted from European Tribune
…Analogies are never perfect, but here’s one using horse racing. Don’t expect a perfect correspondence to the banking situation, but I think it is close enough for government work.
Joe goes to the track and bets $2 on a horse.
Two guys standing nearby get into a discussion and Fred says to [...]
Emily, Joshua and Artemis now live in Philadelphia, PA. They used to live in Qingdao, People's Republic of China.