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On this day in 1985, the S&P 500 closed above 200 for the first time, finishing the day at 201.41. It had taken the index more than 17 years to double.
On this day in 1835, Andrew Carnegie was born in Scotland. Carnegie came to the U.S. when he was 13 and went on to forge the steel industry that made America’s railroads, bridges and cars possible. By 1901 he was the world’s richest man.
On this day in 1853, the Panic of 1853 was in full-swing. Leading blue-chip stocks like the Delaware & Hudson Canal, the Panama Railway and the Sixth Avenue Railroad had dropped as far as 31% below their levels at the beginning of the year; more speculative “fancy” issues, like Parker Vein Coal, lost 89% of their value.
On this day in 1991, Charles H. Keating, Jr., the kingpin of the savings & loan crisis, was convicted on 17 charges of California state securities fraud.
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On this day in 1985, the S&P 500 closed above 200 for the first time, finishing the day at 201.41.
It had taken the index more than 17 years to double.
On this day in 1998, America Online acquired once-dominant internet browser Netscape Communications
for roughly $4.2 billion.
On this day in 1835, Andrew Carnegie was born in Scotland.
Carnegie came to the U.S. when he was 13 and went on to forge the steel industry
that made America’s railroads, bridges and cars possible.
By 1901 he was the world’s richest man.
On this day in 1990, the Shanghai Securities Exchange was re-established in China,
41 years after it was closed by the new Communist regime.
On this day in 1853, the Panic of 1853 was in full-swing.
Leading blue-chip stocks like the Delaware & Hudson Canal, the Panama Railway
and the Sixth Avenue Railroad had dropped as far as 31% below their levels at the beginning of the year;
more speculative “fancy” issues, like Parker Vein Coal, lost 89% of their value.
On this day in 1991, Charles H. Keating, Jr., the kingpin of the savings & loan crisis,
was convicted on 17 charges of California state securities fraud.
If Keating was still alive, it seems that he would be a prime candidate for a Trump pardon.
Britannica provides an informative biography about Mr. Keating.
Remember the Keating Five?
https://www.britannica.com/biography/Charles-Keating