Tag: Q1 1938
W.K. Kellogg, Holding Company Criticism, New York 1938
January 15, 1938, New York City – In a scathing rebuke, W.K. Kellogg, president of the Edison Electric Institute, took aim at President Franklin D. Roosevelt’s assertion that utility holding companies were being controlled by a ‘4-inch tail wagging a 96-inch dog.’ The phrase, used by FDR to describe the influence of holding companies on…
Banks Collapse Amidst French Financial Chaos
January 14, 1938, marked a dark day for the French economy as the nation’s financial woes deepened. In a desperate bid to restore confidence in the financial system, French Prime Minister Albert LeBrun took to the streets, seeking to reassure the public that the government would do everything in its power to address the crisis.…
