Financial History 25th Anniversary Special Edition (104, Fall 2012) | Page 4

Financial history The magazine of the Museum of American Finance in association with the Smithsonian Institution Issue 104 • Fall 2012 (ISSN 1520-4723) Kristin Aguilera Editor IN THIS ISSUE FEATURES 17 Restoring the Faith of Investors Members of the Museum’s Advisory Board give their thoughts on the future of finance, while reflecting on the industry’s past.  By John C. Bogle, William Harrison, Henry Kaufman and Duncan L. Niederauer EDITORIAL ADVISORY BOARD Howard Baker Associates Brian Grinder Eastern Washington University Gregory DL Morris Freelance Journalist Arthur W. Samansky The Samansky Group Bob Shabazian American Stock Exchange (ret.) Robert E. Wright Augustana College Jason Zweig The Wall Street Journal EDITOR EMERITAE Diana E. Herzog ART DIRECTION Alan Barnett Design MUSEUM STAFF David J. Cowen, President/CEO Kristin Aguilera, Deputy Director Jeanne Driscoll, Director of Development Linda Rapacki, Managing Director of Visitor Services and Operations Becky Laughner, Director of Exhibits and Archives Maura Ferguson, Director of Exhibits and Educational Programs Alexis Sandler, General Counsel Arturo Gomez, Business Manager Copyright 2012 by the Museum of American Finance, publisher, 48 Wall Street, New York, NY 10005. Telephone: 212-908-4110; fax: 212-908-4601. All rights reserved. Financial History is the official membership magazine of the Museum of American Finance. Annual individual membership is $55. Payment must be made in dollars, by credit card or check payable to the Museum of American Finance. There is no implied endorsement of any advertiser in this magazine. 20 Capital Markets and US Victory in the Space Race, 1957–1970 The period of American and Soviet technological competition was a large and highly-lucrative source of business for American aerospace and related technological firms.  By Peter Kline 24 A Museum of Finance: Why? Exploring the power of finance in history.  By Richard Sylla 28 Breaking Out of the Pit As equity markets shuddered in 1987, commodity markets faced their own challenges.  By Gregory DL Morris 32 Financing the War of 1812 Examining the need for a central bank on the 200th anniversary of the “Second War for Independence.”  By David J. Cowen 36 The Great Recession In an update to his classic Wall Street: A History, Charles Geisst explains why the events occurring during the recent credit crisis would have been familiar to anyone who lived through the Crash of 1929 and the Great Depression.  By Charles Geisst 39 Henry Flagler, Standard Oil and the 1870s Oil War The business life of Rockefeller’s partner, and his role in “The Cleveland Massacre.”  By Alan Lavine 2    FINANCIAL HISTORY  |  Fall 2012  | © Bettmann/CORBIS Howard A. Baker, Esq.