from King World News
Art Cashin discusses what to expect from the Fed today, plus on this day…
On this day…
December 11 (King World News) – Art Cashin: On this day in 1930, American savers, the Federal Reserve and a Republican President all got a nasty surprise. The banking system had been shaky for a year or two but it looked like things might finally be beginning to stabilize. That is until this day.
On this day, a major financial institution, The Bank of the United States went belly up. And, with it went the savings, “in whole or in part”, of over 400,000 depositors.