Nobody knows who did it first. Swindlers have been pulling off the scam for centuries, paying existing investors with the deposits of new ones to create the illusion of an incredibly profitable investment opportunity. Before 1920, it was known as “robbing Peter to pay Paul” or “the Peter-to-Paul scheme.” For example, Sarah Howe, a fortune-teller […]

In April of 1873, an unhappy man walked along Clark Street in downtown Chicago. His name was Aymar de Belloy. There was a gun in his pocket, and a nickel – enough for one final glass of beer. He entered Kirchoff’s tavern and sat at a table, then changed his mind about the beer. He […]

In the second half of the 19th century, few Americans were better known–and revered–than the man whose face looks out today from the $50 bill. Ulysses S. Grant led Union troops to victory in the American Civil War, then thwarted attempts by President Andrew Johnson to suppress fundamental civil rights of newly freed black Americans. […]

By the summer of 1944, the Mount Washington Hotel had been mothballed for two years. Nestled deep in the Appalachian mountains, the sprawling resort was once a favorite getaway for wealthy New Englanders. But in the wake of the Great Depression and the second war to end all wars, the end appeared nigh for this […]