MoneyFILE 021
The Great Salad Oil Swindle
Inspectors measured the tanks with a tape dipped in water. Oil floats. One man used that fact to borrow against $150 million of soybean oil that did not exist.
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Inspectors measured the tanks with a tape dipped in water. Oil floats. One man used that fact to borrow against $150 million of soybean oil that did not exist.
The most-cited financial bubble in history may be mostly a story invented 200 years later by a man selling a book about crowd madness.