"The only thing we learn from history is that we learn nothing from history".
Friedrich Hegel (German Philosopher. 1770-1831)
Currently on the Business Channel, is "Tulipmania" - a film examining the frenzy generated by the opening of a market in tulip futures on the Amsterdam stock exchange in the 17th Century. Tulip mania is considered to be the first recorded speculative bubble, and one of history's great financial disasters.
As Dubya fights to pass the $700bn (£380bn) rescue package to buy mortgage-backed assets from US banks and troubled bank Bradford & Bingley is reportedly nationalised by the British government, we don't appear to have learned from our medieval ancestors...
Tulip mania (Wikipedia entry)
Treasury to nationalise B&B bank
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