Sunday, January 4, 2009

Oldest Anyalst on Wall St - 103

Semi interesting article mentioning Irving Kahn who was working on Wall St in 1929. Thanks goes to Pete.

http://news.bbc.co.uk/2/hi/business/7804768.stm

The current credit crisis has led to comparisons with the Great Depression, which for many of us born after the 1930s might not mean a lot.

For Irving Kahn it was the start of his career. He worked on Wall Street at the time of the stock market crash in 1929.

and

Mr Kahn warns against drawing close parallels between what the US went through then and the present financial problems.

The nature of the trouble in the credit markets is, as he sees it, far more concentrated: "It's a very narrow crisis because it involves people who borrowed too much money," he says.

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