about 1 year ago
As pointed out by @JorgeStolfi, a fellow connoisseur of the history of financial bubbles, this was attempted to stave off the stock market crash in the 1920s. Systemically important actors realized that contagion could cause a Great Depression and banded together to stop it. t.co/lQDaPWZ2hh
Do I need to remind anyone here how effective Wall Street was at risk management in the immediate run up to the Great Depression.