The History of Wall Street,
When people in the media, or just people in the know, refer to the various markets in lower Manhattan in New York City, they usually just refer to Wall Street. Now the famous financial district has become synonymous with large amounts of money, power and influence. But how did one street managed to evolve into such an important address?
Ironically, most major investment firms that happened to build Wall Street into the financial force that is to date aren't even headquartered there anymore. Thanks to technology advancements, these companies are usually headquartered in other parts of Manhattan or in neighboring New Jersey or Connecticut. One of the most influential companies and Wall Street history, J. P. Morgan moved from the address that help make famous in late 2001.
The name Wall Street was actually given for the street since it formed a boundary in New York Amsterdam settlement in the early 1600's. To help word off the British, a 12 foot wall was built around the street to keep out invaders in 1653. In 1792, the Buttonwood agreement started in New York stock exchange and its headquarters would be on Wall Street.
In 1989,a newspaper that would eventually become the Wall Street Journal began publication. The paper took its name from the fact that a growing financial district was browsing around the stock exchange and many companies that would go on to be powerful forces in the United States economy were headquartered there.
One of the most well-known symbols of Wall Street, the JP Morgan headquarters, was built in 1914. The building still stands today, but is now owned and run by Deutsche Bank.
Wall Street has seen its fair share of history over the years, with the 1920 bombing that killed around 40 people and injured 400 to the great crash of 1929 that saw some people kill themselves. Today, if you check the front of the JP Morgan building, you can still see pock marks of 1920 terrorist attack.
The construction of the World Trade Center were the only real major architectural change in the financial district in the last half of the 20th century, and there has been subsequent destruction, that has left a void in the hearts and minds of many that worked and lived near there.
"A day that will live in infamy" The Japanese attack on Pearl Harbor, Hawaii, on December 7, 1941, now there is two days
The history of Wall Street is a collage of incredible highs and devastating lows. The center of Americans and some would say world finance, you can bet there will be plenty of memories made on the most famous street in the world. You can bet that more attacks are being planed now post your comment below
