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Scottsdale, Ariz.
Financial Crises
“Can Financial Crises Be Predicted” (January-February, page 10) cited banking crises in 42 countries from 1950 to 2016. The United States had 47 recessions from its inception to the present. From 1937 to 2020 there were 14 recessions and depressions within 83 years, but their frequency was reduced by governmental regulations lately. Now they are easier to predict: the last recession before the pandemic was 13 years ago, prior to that 7 years ago, before that 10 years ago, before that 9 years ago.
So, because of the U.S. government’s modern-day intervention, we can expect the Wall Street bankers to drive themselves into bankruptcy, so we, the people can bail them out with our tax money about every decade. Who said that financial crises are hard to predict?
Harvard Law
I read with keen interest “The Education of a Harvard Lawyer” (January-February, page 38) by Nancy Boxley Tepper, my classmate. As I recall, she was one of five women in the class and I was one of three blacks. I noted with interest her comments about the phenomenon (“harassment”) of “Ladies Day” and the women’s invitation as 1L’s to Dean Griswold’s home for dinner and tea. She noted that her black male classmates were not singled out for “harassment” on our “day.” She is correct. I note however (ironically) that we three blacks were not invited to Griswold’s for dinner and tea. Was that a plus or a minus? I don’t know even yet!