Markets Vanish - 'In a Flash'

From Recent Commentaries |
January 5, 2013 - 12:56pm

One sample of World War I financial mischief was the Liberty Bond. The first of these offerings (in 1917) was a $2 billion issue, over ten times the size of any previous effort. Given the scale, was a 3-1/2% coupon inadequate compensation?

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