WHY MOST OF CHICAGO’S BANKS FAILED DURING THE GREAT DEPRESSION

A new study by Dr. Natacha Postel-Vinay just published in the prestigious Journal of Economic History uncovers the link between Chicago’s huge real estate boom and bust during the 1920s and the failure of the majority of Chicago’s banks in the early 1930s.

In her article “What Caused Chicago Bank Failures in the Great Depression?” Dr. Postel-Vinay establishes that it was mortgage lending that caused the majority of Chicago banks to fail.

Her most significant finding is that the mass bank failure was not caused by imprudent lending and the poor quality of the mortgages. The mortgages were small relative to property prices and losses suffered by banks on their mortgages were insignificant.

http://www.infowars.com/why-most-of-chicagos-banks-failed-during-the-great-depression/

Significant Premium Hikes Expected Under Obama Health Law

Expect insurers to seek significant premium increases under President Barack Obama’s health care law, in a wave of state-level requests rippling across the country ahead of the political conventions this summer.

Insurers say the law’s coverage has been a financial drain for many of them, and they’re setting the stage for 2017 hikes that in some cases could reach well into the double digits.

For example in Virginia, a state that reports early, nine insurers returning to the HealthCare.gov marketplace are seeking average premium increases that range from 9.4 percent to 37.1 percent. Those initial estimates filed with the state may change.

http://www.theepochtimes.com/n3/2042298-significant-premium-hikes-expected-under-obama-health-law/