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John Kenneth Galbraith

“These values, in turn, were reflected in yet greater magnitude to the holdings of the Trading Corporation. Unrecognized only was the way in which this process would work in reverse—the fixed obligations commanding diminishing market values and revenues of the stocks. Diminution there was. The shares of the Goldman Sachs Trading Corporation were issued at $104 and rose to $222.50 a few months later; in the late spring of 1932, they stood at $1.75.”

John Kenneth Galbraith, A Short History of Financial Euphoria
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A Short History of Financial Euphoria (Business) A Short History of Financial Euphoria by John Kenneth Galbraith
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