Business: Echoes from the Past

> One day in January 1930, a swindler named Clarence Charles Hatry stood at the bar of London's Old Bailey, heard himself convicted of "one of the most appalling frauds which ever disfigured the commercial reputation of this country." The collapse of Promoter Hatry's $10,000,000 forged bond bubble in September 1929 had sapped confidence in The City, helped to precipitate the U. S. stockmarket crash, and hastened worldwide Depression. Hatry was sentenced to 14 years in prison, two -of them at hard labor. Last week, having served nine years of his sentence and...

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