DOCSLIB.ORG

Emails, Text Messages and Social Media: Open Records, Open Meetings and Privacy

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Emails, Text Messages and Social Media: Open Records, Open Meetings and Privacy The University of Texas School of Law Presented: The University of Texas School Law 2012 School Law Conference March 1-2, 2012 Austin, Texas Emails, Text Messages and Social Media: Open Records, Open Meetings and Privacy Andrew Weber Andrew Weber Kelly Hart & Hallman 301 Congress, Ste. 2000 Austin, TX 78701 [email protected] 512-495-6451 TABLE OF CONTENTS Page I. History................................................................................................................................. 1 II. Scenarios ............................................................................................................................. 2 A. Records ..................................................................................................................... 2 B. Meetings ..................................................................................................................... 2 III. Basic Law and Issues ......................................................................................................... 3 A. Open Government—Gov’t Code Chapter 551— a/k/a Open Meetings Act .......... 3 1. Issues ........................................................................................................... 3 a. Walking Quorum/Email .................................................................. 3 b. Free Speech ..................................................................................... 3 c. New Issues ...................................................................................... 4 B. Open Records .......................................................................................................... 4 1. Issues ........................................................................................................... 4 a. Emails on personal phones.............................................................. 4 b. Time to provide documents or request AG opinion ........................ 4 c. Legislative exception and non-disclosure agreement ..................... 4 2. New Issues .................................................................................................. 4 a. Interim Charges to Senate Committee on Open Government..................................................................................... 4 b. Third Party records ......................................................................... 4 c. New technologies such as personal cell phones and emails ........... 5 d. Record retention issues ................................................................... 5 e. SB 701 ............................................................................................. 5 f. May refuse to disclose documents that subject government employee to imminent physical harm. ............................................ 5 g. Be wary of record retention issues on emails, postings on social media—have you created a document? ................................ 5 3. Miscellaneous ............................................................................................. 5 a. Logistics, etc. .................................................................................. 5 I. History 1969. The Sharpstown Scandal. According to Wikipedia, the scandal revolved around Houston banker and insurance company manager Frank Sharp and his companies, the Sharpstown State Bank and the National Bankers Life Insurance Corporation. Sharp granted $600,000 in loans from his bank to state officials who would, in turn, purchase stock in National Bankers Life, to be resold later at a huge profit, after Sharp artificially inflated the company's value. One of the victims of the scandal, Strake Jesuit College Preparatory, lost $6,000,000 following the advice of Sharp. The school bought the resold stock at $20–26 a share.[1] Using the stock as encouragement, Sharp pushed for legislation that would benefit National Bankers Life, increasing the value of the company to its investors; the very people who would push the legislation through. The scheme succeeded in generating profits for the investors on the order of a quarter of a million dollars, but the U.S. Securities and Exchange Commission (SEC) stepped in early in 1971, filing criminal and civil charges against former state attorney general Waggoner Carr, former state insurance commissioner John Osorio, Frank Sharp, and a number of others. By the middle of 1971, anyone in the state government who might be connected to Sharp was heavily pressured politically. Allegations of bribery to push the favorable bills through the government spread to House Speaker Gus Mutscher, Jr., State Representative Tommy Shannon, state Democratic chairman, state banking board member Elmer Baum, Lieutenant Governor Ben Barnes and even Governor Preston Smith. 1971. The Sharpstown Scandal came to light. Speaker of the House and other elected officials were implicated. 1973. Public Information Act, Government Code Chapter 552: “Under the fundamental philosophy of American constitutional representative government that adheres to the principle that government is the servant and not the master of the people, it is the policy of this state that each person is entitled, unless otherwise expressly provided by law, at all time to complete information about the affairs of government and the official acts of public officials and employees. The people, in delegating authority, do not give their public servants the right to decide what is good for the people to know and what is not good for them to know. The people insist on remaining informed so they retain control over the instruments they have created. The provisions of this chapter shall be liberally construed to implement this policy.” Tex. Gov’t Code § 552..001(a). So there’s your fundamental policy. Keep in mind that last sentence about how to call toss ups. This 40-year old law, amended periodically, and interpreted by courts and the Attorney General, is enforced by District Attorneys. Think back: Before email, before internet, before cell phones. Before Face Book and You Tube. 1 II. Scenarios A. Records A school board member, on occasion, texts, emails, and makes and received phone calls about district business on her personal cell phone. A former, now disgruntled former employee believes he was discussed in some of those communications, and requests phone records and all emails and texts in which he was discussed over the last 2 years. A second board member, same scenario, but district provides an allowance each month to offset cost of personal cell phone. Third board member, same, but district reimburses data plan and texting fees. Board counsel prepares legal memo regarding whether hiring superintendant’s niece violates district nepotism policy. Citizen asks for all documents related to the niece’s employment. Does citizen get the memo? State senator asks for same. Does Senator Doe get the legal memo? Your board receives a request for documents and, 7 business days later, asks for clarification, or if the requestor will narrow the request, maybe as to time frame. When the requestor answers, how long do you have to produce the documents? B. Meetings One board member emails one other member of a board of 7. Discusses district business. Open meetings violation? Receiving member flips email to another of the 7. OK? Principal of a high school sends an email, discussing district business, to all school board members. OK? One member forwards and discusses with one other member. OK? One member hits “reply all.” OK? Citizen Doe opines about school business on a social media page (like Face Book). A school board member chimes in. Any problem? School board member opines on school business on her social media page. Over the course of the next 24 hours, 4 other board members chime in on the topic. Superintendant briefs one board member about a personnel issue on the agenda for the next board meeting. Independently briefs 3 other board members so they know what super thinks before they get into the meeting 2 Find the full text of this and thousands of other resources from leading experts in dozens of legal practice areas in the UT Law CLE eLibrary (utcle.org/elibrary) Title search: Emails, Text Messages and Social Media: Open Records, Open Meetings and Privacy Also available as part of the eCourse Electronic Issues on Campus: 2012 Case Law Update; Intellectual Property Conundrums in Schools; plus Open Records, Open Meetings and Privacy First appeared as part of the conference materials for the 27th Annual School Law Conference session "Emails, Text Messages and Social Media: Open Records, Open Meetings and Privacy".
Load more

Recommended publications
  • ETHJ Vol-33 No-2
    East Texas Historical Journal Volume 33 Issue 2 Article 1 10-1995 ETHJ Vol-33 No-2 Follow this and additional works at: https://scholarworks.sfasu.edu/ethj Part of the United States History Commons Tell us how this article helped you. Recommended Citation (1995) "ETHJ Vol-33 No-2," East Texas Historical Journal: Vol. 33 : Iss. 2 , Article 1. Available at: https://scholarworks.sfasu.edu/ethj/vol33/iss2/1 This Full Issue is brought to you for free and open access by the History at SFA ScholarWorks. It has been accepted for inclusion in East Texas Historical Journal by an authorized editor of SFA ScholarWorks. For more information, please contact [email protected]. VOLUME XXXIII 1995 NUMBER 2 HISTORICAL JOURNAL EAST TEXAS HISTORICAL ASSOCIATION 1994-1995 OFFICERS Cissy Lale . .........President Cecil Harper. .. ..... First Vice President Carol Riggs . .. .. Second Vice President Sandy Gladden . ........Secretary-Treasurer DIRECTORS Bob Glover................................ .. Flint .1995 Linda Hudson.................. .. Denton....................... .. 1995 Naaman Woodland Beaumont.... ..1995 Valentine J. Belfiglio .. .. Garland 1996 Joe White Kilgore.. .. 1997 Vista McCroskey.......... .. Tyler .. 1997 John W. Storey Beaumont .. 1997 Ray Stephens Denton . ex-President Audrey Kariel MarshaU . ex-President F. Lee Lawrence Tyler . Director Emeritus Frederick L. Kitterle.... Nacogdoches .. ex-officio James V. Reese.......... .. Nacogdoches ex-ofticio EDITORIAL BOARD Valentine J. Belfiglio Garland Bob Bowman Lutkjn Garna L. Cluistian Houston Ouida Dean............ .. Nacogdoches Patricia A. Gajda.... .. Tyler Robert L. Glover . FJint Bobby H. Johnson Nacogdoches Patricia KelJ .. Baylown Max S. Lale .. Fort Worth Irvin M. May. Jr. Bryan Chuck Parsons .. SmiJey Fred Tarpley Commerce Archie P. McDonald EXECUTIVE DIRECTOR AND EDITOR MEMBERSHIP INSTITUTIONAL MEMBERS pay $100 annually LIFE MEMBERS pay $250 or more BENEFACTOR pays $100, PATRON pays $50 annually STUDENT MEMBERS pay $8 annually REGULAR MEMBERS pay $15 annually Journals $7.50 per copy P.O.
    [Show full text]
  • PDF (1.28 Mib)
    Distaff October 1981 page 4 Crime Of Passion In Texas byMonisEdetson of s_ome public opinion, hostile to the in return for a free hand in ::e;s Damels, who were believed to be trying up real estate developments _and sha When she talks she is likely to NOTE: Morris Edelson is a free lance to take Vickie's children and possessions corporations in a vast, explosiVely gro:- someone by the arm, disagree and de- writer-journalist in Houston. The case away from her. Haynes also uncovered ing area to the southwest of Housto · light in contradiction and winning he reports here, though notorious in family scandal, as witnesses testified style and . could conversations. She is a platinum Texas, has had very little publicity that Price lr. had a dllilkin_g problem, illustrated by of his mmor deals. whose standards of dress are determined elsewhere. had been involved in posstbly homo- he gave the JesUJt Houston by her work situation and her up- sexual encou_nters and may have sexu- a small parcel of land '" hts bringing. She never finished high sch 1 Vickie Daniel said that the slug that ally abused hts own children. and extracted _from them a $6 milhon she is not liberal in her personal c:e· tore through her husband's stomach, in good faith, and she is probably punctured his aorta, and left him ::o drowning in his own blood in January which Vickie had made of her husband's the Pope decorated the Baptist banker p:osecutton the tdea to have a psy. in Liberty, Texas was aimed at hypo- allegedly lewd remarks to his children with the highest Knights of the Church chiatnst rule on her called 3 crisy, chauvinism and decadence.
    [Show full text]
  • The Significance and Impact of Women
    THE SIGNIFICANCE AND IMPACT OF WOMEN ON THE RISE OF THE REPUBLICAN PARTY IN TWENTIETH CENTURY TEXAS Kristi Throne Strickland, B.B.A., M.A. Dissertation Prepared for the Degree of DOCTOR OF PHILOSOPHY UNIVERSITY OF NORTH TEXAS August 2000 APPROVED: Ronald E. Marcello, Major Professor and Chair Donald K. Pickens, Committee Member Randolph B. Campbell, Committee Member Alexandra Leavell, Committee Member Elizabeth Esterchild, Committee Member Richard M. Golden, Chair of the Department of History C. Neal Tate, Dean of the Robert B. Toulouse School of Graduate Studies Strickland, Kristi Throne, The Significance and Impact of Women on the Rise of the Republican Party in Twentieth Century Texas. Doctor of Philosophy (History), August, 2000, 267 pp., references, 180 titles. During the early twentieth century, the Democratic party dominated the conservative political landscape of Texas. Through the 1920s, members of the Republican party focused on patronage and seemed content to maintain the position of minority party. A growing dissatisfaction with the liberal policies of the New Deal during the 1930s created opportunities for state Republicans to woo dissenting Democrats to their side. With a change of leadership within the state GOP after 1950, the Republicans waged serious campaigns for offices for the first time. Republican men exercised their political yearnings through leadership positions. Women, on the other hand, were shut out of the leadership ranks, and, as a consequence, they chose a traditional female strategy. They organized clubs in order to support the new leadership and rising candidates. Against formidable odds, Republican women acted as foot soldiers and worked diligently to attain their objectives.
    [Show full text]
  • Major Energy Crisis Hits U.S. Texas and Alaska Elated. Lubbock Swati C
    The Texas Times Vol. 1 Decade 1970 NO. 1 ____________________________________________________________________________________________________________________ Tornado Hits Major Energy Crisis Hits U.S. Texas and Alaska elated. Lubbock Swati C. Yarlagadda May 11, 1970- Two tornadoes hit Lubbock, the second of which devastated the inner city and residential areas. This catastrophe left twenty-six dead and injured over 1500 people. The second tornado, the deadlier of the two, also hit the Lubbock Municipal Airport, destroying 100 private aircraft and 17 military planes. The twister cut through the city’s power and communication lines, leaving around 170,000 1973-80- A major energy crisis, also known as the 1970’s Oil Crisis, has been affecting major industrial people in the dark. countries such as the US, Western Europe, New Zealand, Japan, Australia, and Canada. The problem Residents reported hail half began in 1948 when Jews occupied Israel as their newfound homeland. Arabs who were formerly an hour before a small living in the area couldn’t accept this, so they attacked several times. After a few small battles, the tornado tore the roof off a conflicts turned into full-scaled wars. One such war, the Yom Kippur War, began in early October, barn. A curfew has been 1973. During the war, Egypt and Syria attacked while the Soviets supplied them with arms. In an ordered by Jim Granberry, effort to help Israel, President Richard Nixon gave Israel supplies. As a result, the Organization of and as a precaution, Arab Petroleum Exporting Companies (OAPEC), reduced their petroleum production and proclaimed Department of Public an embargo on oil shipments into the US and Netherlands, Israel’s main supporters.
    [Show full text]
  • Frances Farenthold: Texas’ Joan of Arc
    FRANCES FARENTHOLD: TEXAS’ JOAN OF ARC Stephanie Fields-Hawkins Thesis Prepared for the Degree of MASTER OF ARTS UNIVERSITY OF NORTH TEXAS December 2012 APPROVED: Elizabeth Hayes Turner, Major Professor Randolph B. Campbell, Committee Member Richard B. McCaslin, Committee Member and Chair of the Department of History Mark Wardell, Dean of the Toulouse Graduate School Fields-Hawkins, Stephanie. Frances Farenthold: Texas’ Joan of Arc. Master of Arts (History), December 2012, 141 pp., bibliography, 179 titles. Born in 1926, Frances “Sissy” Tarlton Farenthold began her exploration of politics at a young age. In 1942, Farenthold graduated from Hockaday School for Girls. In 1945, she graduated from Vassar College, and in 1949, she graduated from the University of Texas School of Law. Farenthold was a practicing lawyer, participated in the Corpus Christi Human Relations Commission from 1964 to 1969, and directed Nueces County Legal Aid from 1965 to 1967. In 1969, she began her first term in the Texas House of Representatives. During her second term in the House (1971-1972), Farenthold became a leader in the fight against government corruption. In 1972, she ran in the Democratic primary for Texas governor, and forced a close run-off vote with Dolph Briscoe. Soon afterwards in 1972, she was nominated as a Democratic vice- presidential candidate at the Democratic convention, in addition to her nomination as the chairperson of the National Women’s Political Caucus. Farenthold ran in the Democratic primary for governor again in 1974, but lost decisively. From 1976 until 1980, she was the first woman president of Wells College, before coming back to Texas and opening a law practice.
    [Show full text]
  • Texas Revolvers Was a Collaborative Project of the Staff of Texans for Public Justice, All of Whom Had a Hand in Its Production
    Acknowledgements This report would have been much more monotonous if the Texas lobby was not chock full of characters. Where elsebesides Disneylandcan you find so many people who use professional names such as Doc, Woody, Nub, Rusty, Ike, Gib, Buzz, Ace or Babe? Texas Revolvers was a collaborative project of the staff of Texans for Public Justice, all of whom had a hand in its production. Some labor specialization occurred. Craig Fuzzy McDonald oversaw the big picture. Bill Dub Medaille was the database custodian. Fred Bum Richardson and John Rio Lofton conducted research. Aimée Gumbo Daigle did research and laid out these pages. Andrew Buck Wheat supplied the verbiage. Jason Sketch Stout of Stout Illustrations designed the cover. Texans for Public Justice Texans for Public Justice is a nonpartisan, nonprofit, consumer-oriented policy and research organiza- tion that focuses on corporate responsibility and the role of money in politics. Texans for Public Justice, 1999. Copies of Texas Revolvers are available from: Texans for Public Justice 609 W. 18th St., Suite E Austin, Texas 78701 (512) 472-9770 (fax) 472-9830 [email protected] http://www.tpj.org Contents I. Summary .................................................... 1 II. Introduction ...................................................... 3 III. The Revolver Lobby ................................................ 5 Ex-Legislators .............................................. 8 Top 10 Profiles .................................... 12 Ex-Agency Officials .......................................
    [Show full text]
  • Author Report No Available
    DOCUMENT RESUME ED 408 132 RC 021 043 AUTHOR Cardenas, Jose A. TITLE Texas School Finance Reform: An IDRA Perspective. INSTITUTION Intercultural Network, Inc., La Grange Park, Ill. REPORT NO ISBN-1-878550-63-2 PUB DATE 97 NOTE 392p. AVAILABLE FROM IDRA, 5835 Callaghan, Suite 350, San Antonio, TX 78228-1190 ($30) . PUB TYPE Books (010) Information Analyses (070) Reports Research (143) EDRS PRICE MF01/PC16 Plus Postage. DESCRIPTORS Advocacy; Bilingual Education; *Court Litigation; Educational Change; *Educational Equity (Finance); *Educational Finance; Educational History; *Educational Legislation; Elementary Secondary Education; *Finance Reform; Financial Policy; Mexican American Education; Politics of Education; Public Education; School District Wealth; School Districts; School Taxes; State Aid; State Departments of Education IDENTIFIERS *Edgewood Independent School District TX; Intercultural Development Research Association; Rodriguez v San Antonio Independent School Dist; *Texas ABSTRACT This book chronicles the history of school finance reform in Texas between 1968 and 1995. Specifically, the book focuses on the substantial changes in the method of funding Texas public schools, aimed at creating a more equitable system of educational opportunity. The author, Dr. Jose A. Cardenas, founded the Intercultural Development Research Association, which is dedicated to the principle that all students are entici,:d to eaual educational opportunities. Dr. Cardenas has been actively involved in school finance reform since the early 1970s when he was superintendent of the Edgewood Independent School District, a poor Mexican American district in San Antonio, and when the historic Rodriguez vs. San Antonio ISD litigation (involving Edgewood) was settled. The book begins with a description of the Texas system of school finance from 1950 through 1973, focusing on its major flaw--"local enrichment"--and on myths and misconceptions of school finance.
    [Show full text]
  • 08-20-00153-Cv
    No. 08-20-00153-CV IN THE COURT OF APPEALS FOR THE EIGHTH JUDICIAL DISTRICT OF TEXAS AT EL PASO, TEXAS EMPOWER TEXANS, INC. AND MICHAEL QUINN SULLIVAN, Appellants, V. TEXAS ETHICS COMMISSION, Appellee. Appeal from the 345th Judicial District Court of Travis County, Texas Cause No. D-1-GN-15-004455 BRIEF OF AMICUS CURIAE CAMPAIGN LEGAL CENTER IN SUPPORT OF APPELLEE Randy Howry Kedric Payne * State Bar No. 10121690 D.C. Bar No. 495754 [email protected] [email protected] HOWRY, BREEN & HERMAN LLP CAMPAIGN LEGAL CENTER 1900 Pearl Street 1101 14th Street NW, Suite 400 Austin, TX 78705 Washington, DC 20005 Tel. (512) 430-4844 Tel. (202) 736-2200 Fax (512) 474-8557 Fax (202) 236-2222 * Motion for admission pro hac vice pending Attorneys for amicus curiae Campaign Legal Center TABLE OF CONTENTS Page Table of Authorities ................................................................................................. iii Statement of Interest of Amicus Curiae ..................................................................... 1 Summary of Argument .............................................................................................. 2 Argument.................................................................................................................... 5 I. State Ethics Commissions Have Historically Been Granted Broad Powers Across Branches of Government. .................................. 5 A. State Ethics Commissions Are Vital Mechanisms of Governmental Accountability Engrained in American Democracy. ................................................................................
    [Show full text]
  • Cheers & Jeers
    www.star-telegram.com TM Saturday, September 10, 2005 11B COMMENTARY HISTORY LESSON Hear that sound? It’s the echo of Sharpstown I When voters become upset competence of our elected officials? more from greed than incompe- litical war. (One member called “I have to listen to the people that enough, history shows that their History can be a guide. This is tence. Moreover, it took place when Mutscher and his cronies “neo-Hit- sent me here.” elected representatives may pay a not the first time Austin lawmakers Democrats, rather than Republicans, ler and his Nazi pickpockets.”) One more parallel with Sharps- severe price. have let us down on an epic scale. dominated in Austin. Mutscher’s indictment was but one town bears remembering: Although Flash back to 1971. In January of As it turns out, it is not the partic- product of this war; the ultimate Democrats dominated Texas politics We have known for years that an that year, the Securities and Ex- ulars of Sharpstown that provide our outcome would be determined by in 1971, the Dirty Thirty was a coali- antiquated, inadequate and unfair change Commission filed a federal history lesson, it is the political con- the next election. tion that transcended party and tax system was eroding public edu- lawsuit alleging stock fraud against sequences. The following year, the voters political ideology. Its ranks included cation in Texas. But when a state several defendants, including a for- As a politician, Speaker Gus spoke. Loudly. An unprecedented liberals and conservatives, Demo- court confirmed that last November mer state attorney general, a former Mutscher had much in common number of politicians drew primary crats and Republicans, including, a by declaring the state insurance commissioner and a with Tom Craddick.
    [Show full text]
  • Texas State Politics, 1960–1995
    521 11/18/02 10:57 AM Page 524 Why It Matters Now Texas State Politics, Major shifts during this period 2 changed the directions of the Republican and Democratic 1960–1995 Parties. TERMS & NAMES OBJECTIVES MAIN IDEA John Connally, indicted, 1. Trace the development of the two-party After 1960 Republicans began to Phil Gramm, George Bush, system in Texas during the second half challenge Democratic leadership House Bill 72, teacher of the twentieth century. in Texas. Texas elected the second certification, “no pass–no 2. Identify the leadership qualities of past Republican governor in its history as play,” special session, Ann and present elected leaders of Texas. well as its second female governor. Richards, George W. Bush 3. Analyze the leadership qualities of In the 1990s Republican George W. Texans who have been president of Bush won two terms as governor and the United States. went on to become president. WHAT Would You Do? Imagine that you have always voted for Democratic candidates in elec- Write your response tions. Lately, however, you find yourself disagreeing with many of the to Interact with History Democrats’ ideas. Unfortunately, you don’t agree with many of the in your Texas Notebook. Republicans’ ideas either. What could you do to improve the situation? Would you start a new party or try to get one of the other parties to change? How would you persuade others to join you? John Connally In 1962 Texans elected Democratic candidate John Connally as gover- nor. Raised on a South Texas cotton farm, Connally had campaigned for Johnson but was more conservative than Johnson was.
    [Show full text]
  • BRISCOE-DISSERTATION-2014.Pdf
    Copyright by Dolph Briscoe IV 2014 The Dissertation Committee for Dolph Briscoe IV Certifies that this is the approved version of the following dissertation: For a Long Time to Come: The Transformation of Texas Politics, 1960-1984 Committee: H. W. Brands, Supervisor Michael B. Stoff Emilio Zamora Don E. Carleton T. Michael Parrish David M. Oshinsky For a Long Time to Come: The Transformation of Texas Politics, 1960-1984 by Dolph Briscoe IV, B.A.; M.A. Dissertation Presented to the Faculty of the Graduate School of The University of Texas at Austin in Partial Fulfillment of the Requirements for the Degree of Doctor of Philosophy The University of Texas at Austin December 2014 Dedication In memory of my beloved grandfather, Governor Dolph Briscoe, Jr., A devoted Texas Longhorn and lifelong Democrat Acknowledgements My time as a graduate student at The University of Texas at Austin has been immensely fulfilling, both professionally and personally. In completing my studies and this dissertation, I received support from so many wonderful people. First, I want to express deep gratitude to my mentor, Professor H. W. Brands, who has provided me with guidance and encouragement throughout my time at UT. It has been my great honor to work with Dr. Brands as a student and teaching assistant. His dedication to teaching and writing, enthusiasm for students’ interests, and concern for engaging the broader public with history is inspiring. Dr. Brands is the role model for the historian I strive to be, and I am profoundly grateful for his support. I am much appreciative to Professors Don Carleton, David Oshinsky, Michael Parrish, Michael Stoff, and Emilio Zamora for serving on my dissertation committee.
    [Show full text]
  • 1907 Lessons Learned
    The Panic of Lessons Learned from the Market’s Perfect Storm 1907 By Robert F. Bruner and Sean D. Carr To understand fully the crash and had disturbed the equilibrium of the panici of 1907, one must consider its nation’s fragile financial system. As context: it was a time somewhat like Mark Twain supposedly said, “His- the present. A Republican moralist tory may not repeat itself, but it occa- was in the White House. War was sionally rhymes.” fresh in mind. Immigration was fuel- Exactly 100 years ago the United ing dramatic changes in society. New States was teetering on the edge of technologies were changing people’s economic collapse. Markets were in everyday lives. Business consolidators disarray, anxious depositors were and their Wall Street advisers were cre- forming long lines in front of banks, ating large, new combinations through and Wall Street investors were ner- mergers and acquisitions, while the vous and distressed. By November government was investigating and 1907 a major market crash had prosecuting prominent executives—led resulted in a 37 percent decline in by an aggressive young prosecutor from the value of all listed stocks, affect- New York. The public’s attitude toward ing nearly every industrial sector. business leaders, fueled by a muckrak- During the sharpest part of this ing press, was largely negative. The downturn, a banking panic led to government itself was becoming the failure of at least 25 banks and increasingly interventionist in society 17 trust companies.ii Money was and, in some ways, more intrusive in increasingly scarce, brokerages were individual life.
    [Show full text]