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"Stocks have reached what looks like a permanently high plateau," announced Yale economist Irving Fisher on October 17, 1929. Less than two weeks later, the stock market crashed, wiping out a then-unheard-of $40 billion in wealth. Among the millions whose savings were devoured by the collapse was James Braddock, a 24-year-old itinerant heavyweight boxer who had literally bled for the money that disappeared in the crash.
The sixth of seven children born to Joseph and Elizabeth Braddock, James arrived in 1905 just blocks away from Hell's Kitchen, the notorious ghetto on Manhattan's west side.
As soon as he could afford to, Joe moved his family across the ...
Source: HighBeam Research, Braddock's inspiring triumph: when Americans had been knocked flat by...