The Day Wall Street Exploded

Just after noon on September 16, 1920, as hundreds of workers poured onto Wall Street for their lunchtime break, a horse-drawn cart packed with dynamite exploded in a spray of metal and fire, turning the busiest corner of the financial center into a war zone. Thirty-nine people died and hundreds more lay wounded, making the Wall Street explosion the worst terrorist attack in U.S. history until the Oklahoma City bombing. In The Day Wall Street Exploded, Beverly Gage tells the story of that once infamous but now largely forgotten event. Based on thousands of pages of Bureau of Investigation reports, this historical detective saga traces the four-year hunt for the perpetrators, a worldwide effort that spread as far as Italy and the new Soviet nation. It also gives readers the decades-long but little-known history of homegrown terrorism that helped to shape American society a century ago. The book delves into the lives of victims, suspects, and investigators: world banking power J.P. Morgan, Jr.; labor radical "Big Bill" Haywood; anarchist firebrands Emma Goldman and Luigi Galleani; "America's Sherlock Holmes," William J. Burns; even a young J. Edgar Hoover. It grapples as well with some of the most controversial events of its day, including the rise of the Bureau of Investigation, the federal campaign against immigrant "terrorists," the grassroots effort to define and protect civil liberties, and the establishment of anti-communism as the sine qua non of American politics. Many Americans saw the destruction of the World Trade Center as the first major terrorist attack on American soil, an act of evil without precedent. The Day Wall Street Exploded reminds us that terror, too, has a history. Praise for the hardcover: "Outstanding." --New York Times Book Review "Ms. Gage is a storyteller...she leaves it to her readers to draw their own connections as they digest her engaging narrative." --The New York Times "Brisk, suspenseful and richly documented" --The Chicago Tribune "An uncommonly intelligent, witty and vibrant account. She has performed a real service in presenting such a complicated case in such a fair and balanced way." --San Francisco Chronicle

Between 1907 and 1911, the United States was hit by the longest period of sustained terrorism in its history. Of more than 200 bombings that were carried out during this period, the most shocking was the dynamiting of the Los Angeles Times building on the morning of October 1, 1910, which killed twenty-one people. Deadly Times tells the fascinating story of the bombing, the search to apprehend the bombers, the issues that polarized the nation, and the dramatic trials that ensued. The magnificent cast of characters includes: General Harrison Gray Otis, owner of the Los Angeles Times, whose proposal to de-unionize San Francisco and Los Angeles led to its being singled out as a bombing target. William J. Burns, who tracked down the bombers and would eventually become the first director of the FBI. Earl Rogers, the brilliant criminal attorney, drinking companion of Jack London, who became the model for Perry Mason. The legendary Clarence Darrow, who defended the bombers And the bombers themselves, the brothers J.J. and J.B. McNamara, who on their arrest became symbols of capitalist treachery to the working class.

Winner of the 2023 Pulitzer Prize in Biography Winner of the 2022 National Book Critics Circle Award in Biography, the 2023 Bancroft Prize in American History and Diplomacy, and the 43rd LA Times Book Prize in Biography | Finalist for the 2023 PEN/Jacqueline Bograd Weld Award for Biography Named a Best Book of 2022 by The Atlantic, The Washington Post and Smithsonian Magazine and a New York Times Top 100 Notable Books of 2022 “Masterful…This book is an enduring, formidable accomplishment, a monument to the power of biography [that] now becomes the definitive work”—The Washington Post “A nuanced portrait in a league with the best of Ron Chernow and David McCullough.”—The Wall Street Journal A major new biography of J Edgar Hoover that draws from never-before-seen sources to create a groundbreaking portrait of a colossus who dominated half a century of American history and planted the seeds for much of today's conservative political landscape. We remember him as a bulldog--squat frame, bulging wide-set eyes, fearsome jowls--but in 1924, when he became director of the FBI, he had been the trim, dazzling wunderkind of the administrative state, buzzing with energy and big ideas for reform. He transformed a failing law-enforcement backwater, riddled with scandal, into a modern machine. He believed in the power of the federal government to do great things for the nation and its citizens. He also believed that certain people--many of them communists or racial minorities or both-- did not deserve to be included in that American project. Hoover rose to power and then stayed there, decade after decade, using the tools of state to create a personal fiefdom unrivaled in U.S. history. Beverly Gage’s monumental work explores the full sweep of Hoover’s life and career, from his birth in 1895 to a modest Washington civil-service family through his death in 1972. In her nuanced and definitive portrait, Gage shows how Hoover was more than a one-dimensional tyrant and schemer who strong-armed the rest of the country into submission. As FBI director from 1924 through his death in 1972, he was a confidant, counselor, and adversary to eight U.S. presidents, four Republicans and four Democrats. Franklin Roosevelt and Lyndon Johnson did the most to empower him, yet his closest friend among the eight was fellow anticommunist warrior Richard Nixon. Hoover was not above blackmail and intimidation, but he also embodied conservative values ranging from anticommunism to white supremacy to a crusading and politicized interpretation of Christianity. This garnered him the admiration of millions of Americans. He stayed in office for so long because many people, from the highest reaches of government down to the grassroots, wanted him there and supported what he was doing, thus creating the template that the political right has followed to transform its party. G-Man places Hoover back where he once stood in American political history--not at the fringes, but at the center--and uses his story to explain the trajectories of governance, policing, race, ideology, political culture, and federal power as they evolved over the course of the 20th century.

A blistering narrative account of the negligence and greed that pushed all of Wall Street into chaos and the country into a financial crisis. At the beginning of March 2008, the monetary fabric of Bear Stearns, one of the world’s oldest and largest investment banks, began unraveling. After ten days, the bank no longer existed, its assets sold under duress to rival JPMorgan Chase. The effects would be felt nationwide, as the country suddenly found itself in the grip of the worst financial mess since the Great Depression. William Cohan exposes the corporate arrogance, power struggles, and deadly combination of greed and inattention, which led to the collapse of not only Bear Stearns but the very foundations of Wall Street.

Hiroshima is the story of six people—a clerk, a widowed seamstress, a physician, a Methodist minister, a young surgeon, and a German Catholic priest—who lived through the greatest single manmade disaster in history. In vivid and indelible prose, Pulitzer Prize–winner John Hersey traces the stories of these half-dozen individuals from 8:15 a.m. on August 6, 1945, when Hiroshima was destroyed by the first atomic bomb ever dropped on a city, through the hours and days that followed. Almost four decades after the original publication of this celebrated book, Hersey went back to Hiroshima in search of the people whose stories he had told, and his account of what he discovered is now the eloquent and moving final chapter of Hiroshima.

On a September day in 1920, an angry Italian anarchist named Mario Buda exploded a horse-drawn wagon filled with dynamite and iron scrap near New York's Wall Street, killing 40 people. Since Buda's prototype the car bomb has evolved into a "poor man's air force," a generic weapon of mass destruction that now craters cities from Bombay to Oklahoma City. In this provocative history, Mike Davis traces the its worldwide use and development, in the process exposing the role of state intelligence agencies-particularly those of the United States, Israel, India, and Pakistan-in globalizing urban terrorist techniques. Davis argues that it is the incessant impact of car bombs, rather than the more apocalyptic threats of nuclear or bio-terrorism, that is changing cities and urban lifestyles, as privileged centers of power increasingly surround themselves with "rings of steel" against a weapon that nevertheless seems impossible to defeat.

Welcome to the world of Martin "Buzzy" Schwartz, Champion Trader--the man whose nerves of steel and killer instinct in the canyons of Wall Street earned him the well-deserved name "Pit Bull." This is the true story of how Schwartz became the best of the best, of the people and places he discovered along the way and of the trader’s tricks and techniques he used to make his millions.

Just after noon on September 16, 1920, as hundreds of workers poured onto Wall Street for their lunchtime break, a horse-drawn cart packed with dynamite exploded in a spray of metal and fire, turning the busiest corner of the financial center into a war zone. Thirty-nine people died and hundreds more lay wounded, making the Wall Street explosion the worst terrorist attack in U.S. history until the Oklahoma City bombing. In The Day Wall Street Exploded, Beverly Gage tells the story of that once infamous but now largely forgotten event. Based on thousands of pages of Bureau of Investigation reports, this historical detective saga traces the four-year hunt for the perpetrators, a worldwide effort that spread as far as Italy and the new Soviet nation. It also gives readers the decades-long but little-known history of homegrown terrorism that helped to shape American society a century ago. The book delves into the lives of victims, suspects, and investigators: world banking power J.P. Morgan, Jr.; labor radical "Big Bill" Haywood; anarchist firebrands Emma Goldman and Luigi Galleani; "America's Sherlock Holmes," William J. Burns; even a young J. Edgar Hoover. It grapples as well with some of the most controversial events of its day, including the rise of the Bureau of Investigation, the federal campaign against immigrant "terrorists," the grassroots effort to define and protect civil liberties, and the establishment of anti-communism as the sine qua non of American politics. Many Americans saw the destruction of the World Trade Center as the first major terrorist attack on American soil, an act of evil without precedent. The Day Wall Street Exploded reminds us that terror, too, has a history. Praise for the hardcover: "Outstanding." --New York Times Book Review "Ms. Gage is a storyteller...she leaves it to her readers to draw their own connections as they digest her engaging narrative." --The New York Times "Brisk, suspenseful and richly documented" --The Chicago Tribune "An uncommonly intelligent, witty and vibrant account. She has performed a real service in presenting such a complicated case in such a fair and balanced way." --San Francisco Chronicle

*Includes pictures *Includes accounts of the stock market crash written by newspapers and other contemporaries *Includes a bibliography for further reading *Includes a table of contents The Roaring Twenties were an age of optimism. New technology was being invented, and novel products were making their way to the store shelves. Americans believed that a new era, driven by technology, was upon them, and this optimism extended to financial markets. Investments especially soared in the bond market, where investors lent money to companies, and the stock market, where investors bought partial ownership of companies. During the 1920s, financiers believed that the economy would continue to boom, as it had been since the end of World War I. As a result, investors and financiers increasingly accepted lower and lower returns on money they lent. In the stock market, the result was much the same: stocks skyrocketed throughout the 1920s, led by new technology stocks, such as Radio Corporation of America, or RCA, which made radios and owned broadcasters. However, the rampant purchasing and rise in prices meant that stock prices soon bore little relationship to the underlying value of the businesses, because the prices were bid up by investors. Prior to 1920, few middle class Americans owned shares in the stock market, but as the prices of stocks grew, the enthusiasm for purchasing stocks grew as well. More middle class Americans purchased stocks in the 1920s than ever before. As stock prices rose throughout the 1920s, some economists believed that stock prices would never fall back to where they had been before World War I. Economist Irving Fisher famously said "Stock prices have reached what looks like a permanently high plateau." Some speculators even sought to capitalize on rising stock prices by borrowing money to buy stocks. Buying stocks with borrowed money had previously seemed very risky, because if the stock market declined, the speculator would be required to post additional collateral to back the loan. But with share prices continuously rising, buying with borrowed money seemed like a good way to make larger profits. However, during the fall of 1929, the stock market was becoming increasingly unstable. Prices would rise and fall rapidly, and some investors were becoming more cautious. Then, on October 24, 1929, the stock market lost 11% of its value right at the opening of the stock market. Panic ensued, but several prominent investment bankers were able to restore confidence by buying stocks well above the market rate. Investors were still extremely nervous, however, and when word of the panic spread over the weekend, investors flooded their brokers with sell orders for Monday morning. On Monday, October 28, the market fell almost 13%, earning it the moniker "Black Monday." The market fared no better the next day, falling nearly another 12% during what became known as "Black Tuesday." This time, efforts by wealthy investors, including members of the Rockefeller family and General Motors founder William C. Durant to restore confidence failed. Durant believed he could single-handedly restore confidence to the market by committing his whole fortune to buying stocks; instead, his business failed. Black Tuesday was a catastrophe the country wasn't ready for, and in fact, the market would not return to its 1929 peak until the 1950s. Black Tuesday is best remembered for investors and consumers making a run on banks that could not service everyone, and banks failed often during the Great Depression, due to bad loans and a lack of public confidence that produced further bank runs. The Federal Reserve was reluctant to backstop banks and protect them against bank runs, so banks were unable to borrow enough money to cover depositors' demands. When banks failed, depositors who couldn't get their money out of the bank were wiped out.

This book remembers one hundred years since Black Wall Street and it reflects on the 1921 Tulsa Race Massacre. Black Wall Street was the most successful Black business district in the United States; yet, it was isolated from the blooming white oil town of Tulsa, Oklahoma, because of racism. During the early twentieth century African-Americans lived in the constant threat of extreme violence by white supremacy, lynching, and Jim and Jane Crow laws. The text explores, through a Womanist lens, the moral dilemma of Black ontology and the existential crisis of living in America as equal human beings to white Americans. This prosperous Black business district and residential community was lynched by white terror, hate, jealousy, and hegemonic power, using unjust laws and a legally sanctioned white mob. Terrorism operated historically based on the lies of Black inferiority with the support of law and white supremacy. Today this same precedence continues to terrorize the life experiences of African-Americans. The research examines Native Americans and African-Americans, the Black migration west, the role of religion, Black women's contributions, lynching, and the continued resilience of Black Americans.