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Between banks. so between 1930 and about the mid 70s, if you needed a transfer, or to wire money to someone, basically this had to happen on a telex. without getting too technical, this is how the process work. you went to the bank, business, maybe an insurance company, to about the message on the keyboard, which was transferred to a piece of tape, which was coated. then, you would use a rotary phone it to call the bank receiving your transfer. when they answered, your message went through a tap...

Long before GameStop, Wall Street’s legitimacy was challenged by ‘bucket shops’ in 19th century For some, bucket shops were a ‘shadow market’. For others, a ‘financial netherworld’. Feb 03, 2021 · 07:30 pm ‘Watching the tape or watching the wheel - what is the difference morally?’, illustration by Will Crawford c.1912. | Puck Magazine/Library of Congress The gleeful manipulation of GameStop’s share price is not the first time amateur investors have ...

The gleeful manipulation of GameStop’s share price is not the first time amateur investors have created a legitimacy crisis on Wall Street. In the late 19th century, so-called “bucket shops” allowed the American public to gamble small amounts on the movement of stocks and commodities on the New York and Chicago exchanges. In most cases, a bucket shop client wouldn’t own the stock they wagered on: the shop acted more like a bookmaker than a broker, with clients betting against the hous...