In The 1970s We Saw A Massive

If You Go Back To The Time Of J.p. Morgan, The World Of High Finance Was Completely Wholesale. The Prestigious Investment Banks On Wall Street Appealed Exclusively To Large Corporations, Governments, And To Extremely Wealthy Individuals.

The Mutual Fund Industry And Small Investors Are Very Relentless And Very Unforgiving If People Don't Perform.

In The 1920s, Wall Street Was A World That Was Really Dominated By Professional Speculators And Stock Pools. These People Had A Monopoly Over Information.

Once The Brokerage House, Rather Than The Bank, Became The Locus For American Savings, That Money Would Find Its Way Into The Stock Market, Because The Broker Was Someone With A Much Higher Tolerance For Risk Than The Banker.

In The 1920s You Could Buy Stocks On Margin. You Could Put 10 Percent Down And Borrow The Rest Against Your Stocks.