Erny E Swartz 1907
Erny Swartz's Biography
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1907 World Events
In 1907, in the year that Erny E Swartz was born, in October, over a 3 week period, the New York stock exchange fell almost 50% from the previous year's high mark. Public panic ensued and there were runs on banks since the U.S. was in the middle of a recession. J.P. Morgan offered his own fortune to back the banks and he was followed by other financiers. This temporarily shored up the banking system, stopping the immediate panic. All of this led to the creation of the Federal Reserve.
In 1942, on November 28th at 10:15p, a nightclub in Boston, the Cocoanut Grove, caught fire. The origins of the fire are unknown but it killed 492 people - the deadliest nightclub fire in U.S. history. Hundreds more were injured. The disaster was so shocking that it replaced World War II in the headlines and lead to reforms in safety standards and codes.
In 1953, actress and comedian Lucille Ball gave birth to Desi Arnaz, Jr on January 19th. On the same day on "I Love Lucy", the fictional Little Ricky was born as well. Baby Desi graced the cover of the first TV Guide magazine with a headline that read ""Lucy's $50,000,000 baby" - because the commercial revenue from his birth was expected to be that amount.
In 1973, in October, Vice President Spiro Agnew resigned - President Nixon nominated Gerald Ford for Vice President. Nixon's tax returns came under investigation. Nixon offered the recently discovered Oval Office tapes be heard by one person and summarized - his offer was rejected by the Special Prosecutor. Nixon ordered the Attorney General, then the assistant Attorney General, to fire the Special Prosecutor. Both refused and were fired. The Solicitor General became the acting Attorney General and fired the Special Prosecutor (the Saturday Night Massacre). Nixon releases some of the tapes, under extreme pressure because of the firings.
In 1991, on December 25th, the Soviet Union flag was lowered and replaced by the Russian tricolor flag. It was the end of the Soviet Union. Mikhail Gorbachev resigned as President of the Soviet Union and Boris Yeltsin became President of the Russian Republic.
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