From the Bad Ideas File: “Great Wall Street Crashes Walking Tour”

From the Bad Ideas file:

For that sad day when you have completely run out of things to do in your life, we present you with the “Great Wall Street Crashes Walking Tour.”  According to the AP:

The enduring symbols of Wall Street’s fabled, turbulent history are inescapable on this walk through the epicenter of American capitalism….

The past, as outlined during a recent three-hour “Great Wall Street Crashes Walking Tour,” takes on greater meaning in the current economic crisis — an ongoing story of boom and bust, bull markets and bailouts, recessions and recoveries.

“If we’ve learned anything from history, it is that history repeats itself,” says Richard Warshauer, a real estate executive who founded the tour 20 years ago after the crash of 1987. His partner, James Kaplan, puts a more optimistic twist on that lesson: “Wall Street always comes back — every time there’s been a crash, there’s been a rebound. In order to have a rise, you have to have a fall.”

On a recent rainy Saturday, Warshauer and Kaplan led some 30 people on the tour, which is offered annually, beginning at the Museum of American Finance, itself an engrossing presentation of history from the Dutch settlers of New Amsterdam to the modern Wall Street of glass and steel towers.

Read the AP article (via The Business Sheet)