On October 26 NHK 世紀の映像
With the Great Depression
America faced unbelievable happening from the loss of wealth, so FDR , the president created two things not to repeat, one was to separate the Security business with banking, the other is oversee the New York Stock Exchange. This was the base of the American economy till Republicans under Ike, Nixon, Reagan and the others changed them.
Why this took place is with Ayn Rand's philosophy of Laises fairs and Federal Reserve head for many years Mr. Greenspan was her disciple appointed by Dick Nixon to lead it. He lowered the interest rate and made the USA great again even though he had been challenged many times but overcame the difficulties. I t eventually caused the money flow to the real estate and housing with subprime loans. When money overflows, it will eventually go to the investment in land, but this took place later in Greenspan era. It was well managed and people said he was a "maestro", master of money control.
The other was a very successful investor during the booming 1920's and lost everything with the crush. Benjamin Graham later had a chance to teach at Columbia University, Business School. Mr. Warren Buffett took his course. It was based on the concept of value investing.
Buffett invested with the value investing and became very successful. He shares his knowledge and wealth with other people and people like him very much.
