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I had trouble believing that these things were even legal given that we'd made the same mistakes during the 1920s. The very idea of 'let's form a company to ge
by CraigRo 3y ago
I had trouble believing that these things were even legal given that we'd made the same mistakes during the 1920s. The very idea of 'let's form a company to get a bunch of money but we're not going to tell you what for' is entirely reminiscent of the south seas bubble language from the 1720s. I'm glad the SEC finally effectively killed these things.
- eigenvalue 3y agoYes, just like the joint stock company that someone attempted to float during the time of the South Sea bubble that was described in the Madness of Crowds as being “For carrying-on an undertaking of great advantage but no-one to know what it is.” That always made me laugh. Crazy then and crazy now.