Albert Oustric

            The 1920s saw the emergence of numerous shady characters in the history of finance, the product of a buoyant stock market amidst imbalances beneath the surface. These anti-heroes tended to have something in common, they were really good at raising lots of money. A Frenchman of the period, Albert Oustric, was able to put

Romania’s ‘Caritas’ Scheme

            Like other economies transitioning out of socialism around the same time, Romania in the early 1990s was a fairly dismal place. Offering a bit of hope to many was a local ‘mutual-aid’ financial scheme called Caritas. While appealing to people’s desperation, apathy, and frustrations, Caritas was clearly not a normal financial institution. It promised

Early Banking in Ethiopia

            The first large banks to be founded in a particular country tended to do a bit of everything. They took deposits, made loans, issued banknotes, distributed securities, and more. These functions may have been fulfilled previously by unique actors but large banking firms brought them under one roof and usually on a larger scale.

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