Financial Crisis : Extraordinary Popular Delusions and the Madness of Crowds
2 hour walking tour guided by Ex-Wall Streeter
The title of this tour is borrowed from the brilliant book of the same name written in 1841 by Charles Mackay. The book deals with 3 “delusions”: "National Delusions", "Peculiar Follies", and "Philosophical Delusions". While dealing with The Crusades, alchemy, witch-hunts a
nd other follies, the parts that interest us most today are the economic bubbles he discussed -- in 1841 -- and the national delusions he chronicled. On this tour we learn about the most significant financial event since the Great Depression . The economic collapse of 2008 was the most devastating shock suffered by the financial sector since the Great Depression. The effects of the recession were felt world-wide, yet the reasons behind it are still shaded in mystery. What mistakes lead to the collapse of some of the longest and most enduring financial institutions in America? We compare the 2008 Crisis ,to other financial disasters, we also explore the streets surrounding Wall Street some of the oldest in the city. They occupy a special significance in American history, as so much happened in just a few city blocks. From the first Dutch settlers to the high stakes action of the Stock Market, New York is a city built on commerce, and Wall Street is its heart.
