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Posts Tagged ‘Bugs Moran

“When I consider Life, ’tis all a cheat”*…

 

ladiesfraud2_web

 

Sarah Howe’s early life is mostly a mystery. There are no surviving photographs or sketches of her, so it’s impossible to know what she looked like. She may, at one point, have been married, but by 1877 she was single and working as a fortune-teller in Boston. It was a time of boom and invention in the United States. The country was rebuilding after the Civil War, industrial development was starting to take off, and immigration and urbanization were both increasing steadily. Money was flowing freely (to white people anyway), and men and women alike were putting that money into the nation’s burgeoning banks. In 1876, Alexander Graham Bell invented the telephone, and in 1879 Thomas Edison created the lightbulb. In between those innovations, Sarah Howe opened the Ladies’ Deposit Company, a bank run by women, for women.

The company’s mission was simple: help white women gain access to the booming world of banking. The bank only accepted deposits from so-called “unprotected females,” women who did not have a husband or guardian handling their money. These women were largely overlooked by banks who saw them — and their smaller pots of money — as a waste of time. In return for their investment, Howe promised incredible results: an 8 percent interest rate…

All told, the Ladies Deposit would gather at least $250,000 from 800 women — although historians think far more women were involved. Some estimate that Howe collected more like $500,000, the equivalent of about $13 million today…

Then, in 1880, it all came crashing down. On September 25, 1880, the Boston Daily Advertiser began a series of stories that exposed Howe’s bank as a fraud. Her 8 percent returns were too good to be true. Howe was operating what we now know as a Ponzi scheme — 40 years before Ponzi would try his hand at it…

Rose Eveleth on the fascinating story of a 19th-century scammer, and what she can teach us about women, lying, and economic boom-and-bust cycles: “The No. 1 Ladies’ Defrauding Agency.”

* John Dryden, Aureng-Zebe

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As we remind ourselves that what’s too good to be true usually isn’t, we might recall that it was on this date in 1946 that FBI agents arrested Chicago gangster George “Bugs” Moran in Kentucky.

During the Prohibition era, Moran was one of the biggest organized crime figures in America, and has been credited with popularizing the drive-by shooting. He was a rival to Al Capone, who gunned down seven members of Moran’s gang in the 1929 Saint Valentine’s Day massacre.

Unlike Capone, Moran wasn’t a clever crime boss. By 1946 he had been reduced to common crimes like bank heists. He was basically penniless. The FBI found him renting an upstairs apartment from a law-abiding couple in Henderson, Ky.  [source]

220px-Bugs_Moran source

 

Written by LW

July 6, 2019 at 1:01 am

Special Valentine’s Day Edition: “I have come here to chew bubblegum and kick ass… and I’m all out of bubblegum”*…

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If you’ve ever read a hardboiled detective story, you may have come across a sentence like,

“I jammed the roscoe in his button and said, ‘Close your yap, bo, or I squirt metal.’”

Something like this isn’t too hard to decipher. But what if you encounter,

“The flim-flammer jumped in the flivver and faded.”

“You dumb mug, get your mitts off the marbles before I stuff that mud-pipe down your mush—and tell your moll to hand over the mazuma.”

“The sucker with the schnozzle poured a slug but before he could scram out two shamuses showed him the shiv and said they could send him over.”

You may need to translate this into normal English just to be able to follow the plot.

Or maybe you want to seem tougher. Why get in a car when you can hop in a boiler? Why tell someone to shut up when you can tell them to close their head? Why threaten to discharge a firearm when you can say, “Dust, pal, or I pump lead!”

Want to learn the language of Philip Marlowe, Sam Spade, Mike Hammer and the Continental Op.?  Turn to William Denton’s Twists, Slugs and Roscoes: A Glossary of Hardboiled Slang.

*  Nada (Roddy Piper) in the tragically-unappreciated They Live.  The photo above is, of course, from the entertaining, but adequately-appreciated Lock, Stock, and Two Smoking Barrels.

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As we practice patois, we might might recall that it was on this date in 1929 that four men dressed as police officers entered gangster Bugs Moran’s headquarters on North Clark Street in Chicago, lined seven of Moran’s henchmen against a wall, and shot them to death.  The St. Valentine’s Day Massacre, as it became known, was the culmination of a gang war between Al Capone’s South Side Italian gang and Bugs Moran’ North Side Irish gang.  Moran’s gang was in fact incapacitated, and was never again a force in Chicago; but Capone’s victory was short-lived, as Eliot Ness began his investigation later that year, and succeeded in jailing Capone in 1931.

(Real) police re-enact the massacre. (Library of Congress/Chicago Daily News)

source

Written by LW

February 14, 2014 at 1:01 am

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