Bulls and Bears

The New York Stock Exchange was formed on this day in 1792. Located on Wall Street, the stock exchange became a place of wild ups and downs, frequent panics and frauds. It remained so until 1934 when FDR formed the S.E.C. Since then the American economy has enjoyed a steady, mildly fluctuating prosperity, with no great panics and only occasional frauds, unless you consider Market Capitalism a fraud. Roosevelt put Joseph Kennedy, one of the greatest of Wall Street's buccaneers, in charge of clean