Daniel Drew: A Victim of His Own Ways

Daniel Drew

In 1868, a war of business tycoons erupted. The price was the lucrative line of Erie, connecting New York to Illinois. In one side, the powerful and influential ferryman turned railroad King, Cornelius Vanderbilt. On the other side, the Erie Ring, composed of men who were highly regarded as cheats and unscrupulous. It was composed of Jim Fisk, Jay Gould, and another unexpected faithful turned roguish speculator, Daniel Drew.

South Sea Bubble: 18th Century Meltdown

South Sea Bubble by Edward Matthew Ward

In 2008, a global recession hit the world hard. It is a fact in an economy that there are periods of highs and lows, booms and bust. Bursting bubbles were inevitable if an authority is not careful enough. Bubbles are characterize by rapid rise of prices of a commodity and its sudden deflation caused by different circumstances. After nearly a century after the Tulip Mania, another bubble was created just a sea across, to England. A new and more volatile bubble was created. From a flower, the crazed turned to hopes and lies of a monopoly and profit of a company, the South Sea Company.

Jim Fisk: Manipulator, Speculator

James Fisk

After the Civil War, America experience a rapid reconstruction followed by unprecedented industrialization. Government did not dominated the scene but businessmen, speculators, and bankers. Among the most prominent, infamous, and unscrupulous of these men was James Fisk. Ruthless and greedy, he inflicted torment to his enemies and even to his own company.

Tulip Mania: The First Big Bust

Semper Augustus - a popular species
of tulip during the Mania

In 2008, a global recession hit the world hard. It is a fact in an economy that there are periods of highs and lows, booms and bust. Bursting bubbles were inevitable if an authority is not careful enough. Bubbles are characterize by rapid rise of prices of a commodity and its sudden deflation caused by different circumstances. In history, one of the weirdest but significant bubbles was started by a flower – a tulip.