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Home / Focus / Banking & Finance March 2007 / Former Fed chief Greenspan sees no spillover yet from housing (access required)

Former Fed chief Greenspan sees no spillover yet from housing (access required)

Former Federal Reserve Chairman Alan Greenspan says there has so far been no spillover from the troubled housing sector into the broader U.S. economy. Greenspan says it is remarkable that so far there has been no sign of an impact on consumer demand, even amid a sharp increase in mortgage delinquencies among borrowers with poor credit ...

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The Blizzard of 1916 (access required)

This is Main Street in Bisbee on January 21, 1916, the day after the biggest snowfall in city history. The storm began on January 19 with heavy winds that tore off roofs in the Warren District. The wind abated, the sky cleared briefly—then it began to rain. The streets soon ran like rivers. The sky cleared again in the afternoon, but by 5 p.m. snow began to fall, increasing throughout the night until by morning all of southern Arizona from Benson to the Mexican border was blanketed.