In the 1920s you could buy stocks on margin. You could put 10 percent down and borrow the rest against your stocks.

There is no country in the world where it's as easy to find venture capital in the stock market as the United States.

Once the brokerage house, rather than the bank, became the locus for American savings, that money would find its way into the stock market, because the broker was someone with a much higher tolerance for risk than the banker.

I have developed a very strong partiality for the dead: they don't talk back, they don't sue, and they don't have angry relatives.

When news of the crash came, probably a lot of people in small towns and farms across America felt a sense of grim satisfaction that the sinners had finally been punished for their wicked ways.

Early on, New York already had a national and even international identity.

The history of Wall Street is inseparable from New York.