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Mellon warned of slump but tips went largely unheeded
Washington reports recount how Secretary Mellon allegedly warned buyers to “buy bonds” during March 1929 amid the growing market frenzy. The tip, reportedly delivered with a stutter, was largely ignored by the press and public as the crash approached, though a few investors later recalled its significance.
MENTIONED IN THIS ARTICLE
Andrew Mellon
Charles PP. Stewart
Charles P. Stewart
Washington
Eugene Meyer
Jjr
Senate Committee On Banking and Currency
Federal Reserve Board
Hoover
Curtis
Mellon
Treasury
Andy Mellon