Post Number: 365
|Posted on Wednesday, March 18, 2009 - 9:14 am: || |
Joel Thurtell shares a vivid, fascinating tale today at Joel on the Road from research he's doing for a book called How To Stop A Bank Run.
Too detailed and lengthy to summarize here adequately, so trust me -- this is worth 5 - 10 minutes when you have time to read what happened in Joel's hometown of Lowell and throughout Michigan in the early '30s . . . and how it's relevant in 2009.
quote: I couldn't stop reading and now look forward to his book.
My grandfather had to close Houseman’s Grocery Store in 1936 because his customers simply had no money to pay him. . . . Thanks to their hometown bankers, they lost most of their savings.
. . . How do I know this? In the banking office in Lansing, I found an amazing document.
Post Number: 2256
|Posted on Thursday, March 19, 2009 - 2:01 am: || |
bump because you wrote Lowell.
Actually because it is a very relevant story.
Post Number: 992
|Posted on Thursday, March 19, 2009 - 2:42 am: || |
It was some good reading, ALLWAYS learn something here.