The crumbling Spanish empire had left former colonies free to set up as independent nations. And there were other ways to cash in: the shares of British mining firms planning to explore the new world were popular.
The big problem with all this was simple: distance. To get to South America and back in six months was good going, so deals were struck on the basis of information that was scratchy at best. This shocking fraud was symptomatic of a deeper rot. Investors were not carrying out proper checks. Much of the information about new countries came from journalists paid to promote them. More discerning savers would have asked tougher questions: Mexico and Colombia were indeed real countries, but had only rudimentary tax systems, so they stood little chance of raising the money to make the interest payments on their new debt.
Investors were also making outlandish assumptions. But the money men took another step. Deciding which to buy was simple. But there would be no British support for these new countries.
In the summer of it became clear that Spain was on the verge of default. As anxiety spread, bond prices started to plummet. Depositors began to scramble for cash: by December there were bank runs. The Bank of England jumped to provide funds both to crumbling lenders and directly to firms in a bail-out that Bagehot later regarded as the model for crisis-mode central banking.
The most remarkable thing about the crisis of was the sharp divergence in views on what should be done about it. A natural reaction to this emerging-markets crisis might have been to demand that investors conduct proper checks before putting money at risk. Small private partnerships akin to modern private-equity houses, they were accused of stoking up the speculative bubble with lax lending. Banking laws at the time specified that a maximum of six partners could supply the equity, which ensured that banks were numerous but small.
Had they only been bigger, it was argued, they would have had sufficient heft to have survived the inevitable bust. Mulling over what to do, the committees of Westminster and Threadneedle Street looked north, to Scotland. The Scottish lenders had fared much better in the crisis. Parliament passed a new banking act copying this set-up in England was already the global hub for bonds.
With ownership restrictions lifted, banks like National Provincial, now part of RBS, started gobbling up rivals, a process that has continued ever since. The shift to joint-stock banking is a bittersweet moment in British financial history. It had big upsides: the ancestors of the modern megabank had been born, and Britain became a world leader in banking as well as bonds.
By the midth century the world was getting used to financial crises. Britain seemed to operate on a one-crash-per-decade rule: the crisis of was followed by panics in and To those aware of the pattern, the crash of seemed like more of the same.
But this time things were different. From there it led to crashes in Paris, Hamburg, Copenhagen and Vienna. Financial collapses were not merely regular—now they were global, too.
On the surface, Britain was doing well in the s. Exports to the rest of the world were booming, and resources increased with gold discoveries in Australia. But beneath the surface two big changes were taking place. The first big change was that a web of new economic links had formed.
In part, they were down to trade. Americans bought more goods than they sold, with Britain buying American assets to provide the funds, just as China does today. Railway companies were a popular investment. Shares of American railway firms such as the Illinois Central and the Philadelphia and Reading were so widely held by British investors that Britons sat on their boards.
That their earnings did not justify their valuations did not matter much: they were a bet on future growth. The second big change was a burst of financial innovation. And a new type of lender—the discount house—was mushrooming in London.
These outfits started out as middlemen, matching investors with firms that needed cash. In short, they were banks in all but name.
Competition was fierce. But because the central bank was also an active lender, discounting the best bills, its rate put a cap on what the discount houses could charge borrowers. With just one percentage point to play with, the discount houses had to be lean.
Since cash paid zero interest, they cut their reserves close to zero, relying on the fact that they could always borrow from the Bank of England if they faced large depositor withdrawals. Meanwhile in America, Edward Ludlow, the manager of Ohio Life, an insurance company, became caught up in railway fever.
New lines were being built to link eastern cities with new frontier towns. In late spring , railroad stocks began to drop. Ohio Life, highly leveraged and overexposed, fell faster, failing on August 24th. As research by Charles Calomiris of Columbia University and Larry Schweikart of Dayton University shows, problems spread eastwards, dragging down stockbrokers that had invested in railways.
When banks dumped their stock, prices fell further, magnifying losses. By October 13th Wall Street was packed with depositors demanding their money. The banks refused to convert deposits into currency. As the financial dominoes continued to topple, the first British cities to suffer were Glasgow and Liverpool. Merchants who traded with American firms began to fail in October. There were direct financial links, too.
Dennistoun, Cross and Co. The discount houses magnified the problem. They had become a vital source of credit for firms. But investors were suspicious of their balance-sheets.
Ultraman was teleported back to his home universe at the end of The Brave and the Bold Editor's note: While this Ultraman could be a completely new and original version of the character, it is equally possible that the writers became confused with his history, and fused two separate versions of him together. One day, Ultraman developed the ability to see into other universes due his exposure to a piece of Kryptonite. Having largely conquered his own world, he wanted to test his might against the beings of Earth-One and Earth-Two.
Though initially stronger than Earth-One's Superman, the combined cunning and resolve of both the Justice League and the Justice Society was too much for Ultraman and the Crime Syndicate and they were imprisoned in an impenetrable prison between universes by Green Lantern Hal Jordan, who also put up warning signs to prevent anyone from releasing them.
They would escape their imprisonment a number of times over the years and seek their revenge. The Supermen of Earth-One and Earth-Two then teamed up with Earth-Three's first and only superhero, armored scientist Alexander Luthor, to defeat the evil trio, who were all promptly sent back to their respective prisons.
Earth-Three was one of the first Earths attacked by the Anti-Monitor, and the Syndicate found themselves fighting to protect the very Earth they sought to plunder.
Distraught at the fact that his superpowers were useless at the one time he actually needed them, he flew straight into the antimatter wave that was destroying Earth-Three.
Power Ring, shocked by what he was witnessing, cried out to Ultraman, asking him what he was doing, to which Ultraman stoically replied: "What I have done all my life. I fight In issues "A Second Crisis" , he learned that he was seemingly a comic book character himself, who existed solely for the entertainment of others, though he initially refused the notion that he was something of a minor character compared to others.
He also fought Overman, another Pre- Crisis alternate universe version of Superman who had been infected by a sexually transmitted disease, became insane and killed, seemingly for the sake of killing. Ultraman's personality was also noticeably changed. Rather than the selfish, power hungry being he was before his death, Ultraman was notably concerned with stopping Overman and preventing disaster from occurring once more. He later disappeared back into the mask of the Psycho-Pirate, who, for a time, was the only one who remembered the multiverse that existed before the Crisis.
The Justice League received a call for help from a desperate Alexander Luthor, the only hero in a dark world dominated by the Syndicate and the megalomaniacal Ultraman. This Ultraman married Superwoman in their human guises of Clark Kent and Lois Lane , who still had an affair with Owlman despite the risk of incurring Ultraman's wrath.
Ultraman is aware of the affair, but is held in check by some undisclosed photographic blackmail Owlman holds over him.
Ultraman would occasionally warn the lovers with his heat vision, however. When the Justice League arrived on the Antimatter Earth, the Crime Syndicate switched places with them, and ended up in the League's universe. Both teams found that they could not succeed in the other universe. Ultraman learned this the hard way when he fought the Martian Manhunter who had remained behind with Aquaman.
Ultraman was discovered in the bottle city of Kandor by Power Girl and Supergirl. He was brought there by Saturn Queen to imitate Superman.
Though there are references to both the Pre-Crisis and antimatter Ultramen, he is most likely from the Antimatter Universe, which was supposedly destroyed during the Infinite Crisis by Alexander Luthor Jr.
Saturn Queen found him in the Phantom Zone , where she placed him under mind control to make him believe that she was his mother. They ruled harshly, especially against the city's alien population. He was going to be married to Supergirl who was also under mind control , but she broke free and nearly beat Ultraman to death, only saved by Saturn Queen begging Supergirl not to kill him.
He eventually broke free of the Saturn Queen's control and left Kandor, though this was never shown. Later, he read the Infinite Book and turned against them, claiming evil wins in the end. Ultraman tried desperately to fight his counterpart, who vanished into Limbo to stop Darkseid.
Miserable and completely distraught that he had once again been unable to beat Superman, Ultraman accepted an offer from Mandrakk who turned him into a vampire to serve his needs. He was finally killed by the entire Green Lantern Corps who together formed an enormous stake that impaled Mandrakk, killing them both. Ultraman resurrected after the events of Final Crisis and the antimatter Crime Syndicate return in Justice League of America 50 , where they have agreed to work for Dr.
Impossible by keeping the League distracted while he finished the touches on the so-called "Resurrection Machine". They planned to revive Alexander Luthor and force him to fix the damage caused on their Earth; however, Ultraman, like the rest of the Syndicate, had come to realize the malleability of their universe after Johnny Quick and Power Ring for the second time were replaced, this time by their predecessors mirroring the events of The Flash: Rebirth and Green Lantern: Rebirth.
This, coupled with Ultraman's dreams of his past deaths, led him to argue with Owlman over whether they should even go back to their own universe. Ultraman ended up fighting Supergirl over the skies of Washington D. They traded blows until Batman Dick Grayson called Supergirl back to help out against the Omega Man, who used his own energy to corrupt Supergirl, bringing back her dark half which appeared in her solo series.
She and Ultraman sided with the Omega Man in the later half of the conflict, when Ultraman finally declared to his teammates that he has always tolerated their behavior towards him, and, if he really wanted to, could destroy all of them at any time. He exerted his power, demanding that Superwoman and Donna Troy fight to the death for his amusement. DC Animated Movies. Contents [ show ]. Attack Potency: Casually destroyed a few planets by flying through them Speed: Escaped a double black hole Durability: Survived a sun-eater's implosion which was powerful enough to knock him light-years away and back in time.
It should be noted that Superman was star-sized at the time and that both planets were massively larger than any real planet. Flew through a red sun Able to withstand being in a localized gravity field that simulated the pull of a large black hole  Other feats: Able to smash and move the moon.
Pulled the Mageddon mechanism. Survived inside The Sun Eater who could consume stars. Has pushed, pulled, and dragged the entire Earth. Has defeated gods like Darkseid. Repaired a hole in the cosmos. Survived a blast with the force of several nuclear explosions. Destroyed an army of imperfect Doomsday clones with his Heat Vision. Split an entire sea with his Heat Vision. Superman Overhauling messages.
Alright, let's focus on the paramount thing here. Right Prince? Though many elements of Halloween have branched into unholy and unhealthy regions, its root sleeps in sacred ground. Families of faith frequently attempt to awaken this hallowed origin by instructing children to pray for the Holy Souls in purgatory and to invoke the patronage of the Holy Saints in heaven. Such activities are, without doubt, laudable as they encourage a traditional awareness and attitude by turning the minds and hearts of children toward eternal things.
Moreover, as a compromise with the cultural demands of celebrating Halloween, All Saints Day costume parties have become quite fashionable—if not the only respectable thing to do. After the feast of Pentecost, the liturgical calendar enters into the period of the Church on earth, moving towards the consummation of all things in Christ.
The value of any Christian tradition lies in its pedagogical influence. The implication of Halloween is that death precedes the possibility of saintly glory and the redemptive suffering of purgatory. Of course death is the result of sin, but Halloween can portray it as the precursor to new life by its liturgical placement. Furthermore, the power of grace is only known in comparison to evil; and conversely the horror of evil is only grasped in light of what is good, true, and beautiful.
Thus, Halloween can depict a vital element in the re-enactment of salvation history. Linked to All Saints and All Souls, Halloween imagery presents an integral illustration of the human passage and the consequence of Christ.
Without death, there would be no saints in heaven or souls in purgatory. Without Christ, man would have no right to ridicule the devil. Halloween pageantry proclaims that death is stripped of his sting since the dominion of hell has been overthrown.Jul 03, · Find album reviews, stream songs, credits and award information for Crisis vs Crisis - Glory on AllMusic - Find album reviews, stream songs, credits and award information for Crisis vs Crisis - Glory on AllMusic - Celebration. Glory. Amazon: 3: Crisis vs. Crisis. Glory. Amazon: 4: Believe in a Miracle.