(London - October 20, 1987) Sometimes the similarities can get eerie. I remember thinking, during the recent Wall Street crisis, how certain element
January 25, 2009

Wall Street Fallout_e42f0.jpg (London - October 20, 1987)

Sometimes the similarities can get eerie. I remember thinking, during the recent Wall Street crisis, how certain elements seemed so familiar, how fears seemed so complete.

I went back to an earlier crisis, the one which hit Wall Street the morning of October 20, 1987. The dismay, the shock, and even the denial that something was just fundamentally wrong with our economy.

Listening this past September to John McCain, proclaiming with dead-certainty that the economy was sound, and remembering how, almost the exact words, then-President Reagan saying yes, the economy was fundamentally sound, that all indicators pointed to no crisis.

The words and events from that day are assembled in a montage. Have a listen and remember, it's not 2008.

(Outside the New York Stock Exchange - October 20, 1987)

Can you help us out?

For 18 years we have been exposing Washington lies and untangling media deceit, but now Facebook is drowning us in an ocean of right wing lies. Please give a one-time or recurring donation, or buy a year's subscription for an ad-free experience. Thank you.

Discussion

We are currently migrating to Disqus

On May 14, 2022, we started migrating our comments from Insticator back to Disqus. During this transition period, some posts will have Insticator and some Disqus. For more information on the transition, as well as information regarding old C&L accounts, please see this post.


We welcome relevant, respectful comments. Any comments that are sexist or in any other way deemed hateful by our staff will be deleted and constitute grounds for a ban from posting on the site. Please refer to our Terms of Service for information on our posting policy.