Presidency

Op-Ed

Herbert Hoover's Ghost Haunts Markets, Democrats

Author: Amity Shlaes
Bloomberg.com

Bear Stearns certainly evokes the crash of 1929 and the Great Depression that followed it. Politicians are already making analogies to Herbert Hoover, the demon of that period, and Franklin Roosevelt, the angel. Amity Shlaes argues that while the 1930s do have plenty to tell us, the real challenge isn't deciding who resembles Hoover -- it is figuring out how to avoid a whole era of mistakes.

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