$550 Billion Disappeared in “Electronic Run On the Banks”

On Thursday Sept 15, 2008 at roughly 11 AM The Federal Reserve noticed a tremendous draw down of money market accounts in the USA to the tune of $550 Billion dollars in a matter of an hour or two. Money was being removed electronically. The treasury tried to help with...

Four Ways for Detroit to Save Itself

THESE days, as we contemplate the future of the automotive industry, we would do well to remember the words of Henry Ford: “Failure is the opportunity to begin again more intelligently.” For Detroit, there is plenty of failure. But there are also plenty of...