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The panic of 1907 occurred during a lengthy economic contraction — measured by the National Bureau of Economic Research as occurring between May 1907 and June 1908 . The interrelated contraction , bank panic and falling stock market resulted in significant economic disruption . Industrial production dropped further th... |
Since the end of the Civil War , the United States had experienced panics of varying severity . Economists Charles Calomiris and Gary Gorton rate the worst panics as those leading to widespread bank suspensions — the panics of 1873 , 1893 , and 1907 , and a suspension in 1914 . Widespread suspensions were forestalled ... |
The frequency of crises and the severity of the 1907 panic added to concern about the outsized role of J.P. Morgan which led to renewed impetus toward a national debate on reform . In May 1908 , Congress passed the Aldrich – Vreeland Act that established the National Monetary Commission to investigate the panic and to... |
= = = Central bank = = =
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A significant difference between the European and U.S. banking systems was the absence of a central bank in the United States . European states were able to extend the supply of money during periods of low cash reserves . The belief that the U.S. economy was vulnerable without a central bank was not new . Early in 190... |
Aldrich convened a secret conference with a number of the nation 's leading financiers at the Jekyll Island Club , off the coast of Georgia , to discuss monetary policy and the banking system in November 1910 . Aldrich and A. P. Andrew ( Assistant Secretary of the Treasury Department ) , Paul Warburg ( representing Ku... |
The final report of the National Monetary Commission was published on January 11 , 1911 . For nearly two years legislators debated the proposal and it was not until December 23 , 1913 , that Congress passed the Federal Reserve Act . President Woodrow Wilson signed the legislation immediately and the legislation was en... |
= = = Pujo Committee = = =
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Although Morgan was briefly seen as a hero , widespread fears concerning plutocracy and concentrated wealth soon eroded this view . Morgan 's bank had survived , but the trust companies that were a growing rival to traditional banks were badly damaged . Some analysts believed that the panic had been engineered to dama... |
The chair of the House Committee on Banking and Currency , Representative Arsène Pujo , ( D – La . 7th ) convened a special committee to investigate a " money trust " , the de facto monopoly of Morgan and New York 's other most powerful bankers . The committee issued a scathing report on the banking trade , and found ... |
Although suffering ill health , J. P. Morgan testified before the Pujo Committee and faced several days of questioning from Samuel Untermyer . Untermyer and Morgan 's famous exchange on the fundamentally psychological nature of banking — that it is an industry built on trust — is often quoted in business articles :
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Associates of Morgan blamed his continued physical decline on the hearings . In February he became very ill and died on March 31 , 1913 — nine months before the " money trust " would be officially replaced as lender of last resort by the Federal Reserve .
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= = Timeline = =
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= Jurassic Park ( song ) =
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" Jurassic Park " is a parody of Jimmy Webb 's single " MacArthur Park " written and performed by " Weird Al " Yankovic ; it was released both as a single and as part of Yankovic 's Alapalooza album in October 1993 . " Jurassic Park " was penned by Yankovic after he remembered the enjoyment he had when he combined a c... |
The song was paired with an elaborately animated music video , which was created by Mark Osborne and Scott Nordlund almost entirely via claymation . The video did not receive extensive play on MTV , although it was popular on The Box , VH1 , and in Canada , where it was played on MuchMusic . The video , due to its ani... |
" Jurassic Park " was met with mixed to positive reviews ; while many reviewers enjoyed Yankovic 's humor , others felt that the song did not satirize the source material , but instead merely recounted the plot to the movie . Webb himself was very pleased with the final result and has been known to sing the parody lyr... |
= = Writing = =
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Yankovic was inspired to write the song after he heard The Kinks ' song " Lola " while driving in his car one day . He noted , " I was driving a rent @-@ a @-@ car through Florida when the song ' Lola ' came on the radio , and it got me thinking about how much fun I had doing ' Yoda ' [ a song from 1985 's Dare to Be ... |
= = Recording and lyrics = =
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Yankovic entered the studio to record " Jurassic Park " on July 16 , 1993 . Backing Yankovic were Jon " Bermuda " Schwartz on drums , Steve Jay on bass , and Jim West on guitar . " MacArthur Park " contained an actual orchestra complete with a strings section . " Jurassic Park " , however , features synth strings cour... |
The song itself recounts both the plot of the movie , and contains various in @-@ jokes and references therein . One line about lawyers — " A huge tyrannosaurus ate our lawyer / Well , I suppose that proves they 're really not all bad " — was deliberately placed in the song to be ambiguous , as it could either be refe... |
= = Music video = =
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When it came time for a video for " Jurassic Park " , Yankovic opted to use stop @-@ motion and claymation ; he joked during a Q & A that this was because " it 's just too hard to find real live dinosaurs these days . " " Jurassic Park " was Yankovic 's first video that was entirely animated — previous videos , such a... |
= = Release = =
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= = = Reception = = =
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" Jurassic Park " was released as the lead single from Yankovic 's 1993 album Alapalooza . The single did not chart in the United States . However , the song was a sales success in Canada , and peaked at number 5 on the Canadian magazine The Record 's single chart . The video for " Jurassic Park " received light rotat... |
Jimmy Webb was particularly pleased with the finished product . According to Yankovic , several times during different concerts in New York and Los Angeles that Yankovic was in attendance , Webb would start to perform the original , feign forgetting the words , and then invite Yankovic on stage to help him sing " Jura... |
= = = Reviews = = =
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Chris Hicks of the Deseret News called the single " absolutely hilarious " , and rhetorically asked " who else would think of adapting that ridiculously popular movie 's themes to new lyrics for Jimmy Webb 's classic ditty ' MacArthur Park ' ? " Hicks ' felt that the song 's funniest moments involved the jokes revolvi... |
Some critics felt that the song did not satirize the source material , but instead merely recounted the plot to Jurassic Park . Entertainment Weekly referred to the claymation video for the " Jurassic Park " as " clever but toothless " . The magazine argued that Yankovic 's parody did not satirize the original materia... |
= = Track listing = =
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CD single
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" Jurassic Park " – 3 : 53
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" Frank 's 2000 " TV " – 4 : 04
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= = Charts = =
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= = Credits and personnel = =
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" Weird " Al Yankovic – vocals , background vocals , production , arrangement
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Jim West – guitar
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Steve Jay – bass guitar
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Jon " Bermuda " Schwartz – drums
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Brad Buxer – keyboards , synthetic orchestration
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Sandy Berman – dinosaur growls
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Tony Papa – engineering
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= Foster @-@ Payne House =
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Foster @-@ Payne House is a historic house at 25 Belmont Street in Pawtucket , Rhode Island . Built in 1878 , the two @-@ story multi @-@ gabled house is distinguished by its clapboarded and exterior woodwork and opulent parlors in the interior . The property also has a matching carriagehouse with gable roof and copul... |
= = History = =
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The house was built in 1878 for Theodore Waters Foster , born on May 19 , 1847 , to Chauncey Foster and Ophelia Remington . He was educated in Pawtucket and joined the Rhode Island Cavalry in 1863 . He served in the American Civil War under Nathaniel P. Banks in the Red River Campaign . In 1873 , he formed a jewelry @... |
= = Design = =
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Constructed in 1878 , the Foster @-@ Payne House is a two @-@ story home with a low @-@ pitched multi @-@ gabled roof . The house has a single story open porch on the western side , a kitchen ell that projects from the rear and a single @-@ story bay window that projects from the western bay of the front facade . The ... |
The small foyer on the western entry porch leads to the main stairhall that features a gently curving staircase with turned balusters and a curving rail . The first floor rooms are arranged in an " L " pattern on the southern and eastern sides with the kitchen placed on the northern ell . The interior of one room , no... |
= = Significance = =
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The Foster @-@ Payne House is architecturally significant as a well @-@ designed and well @-@ preserved late 19th century suburban residence , with excellent interior detail and a matching carriagehouse . The area in which it is located was situated in an upper @-@ class suburban area , but since the late 19th @-@ cen... |
= Tropical Storm Marco ( 1990 ) =
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Tropical Storm Marco was the only tropical cyclone to make landfall on the United States during the 1990 Atlantic hurricane season . The 13th named storm of the season , Marco formed from a cold @-@ core low pressure area along the northern coast of Cuba on October 9 , and tracked northwestward through the eastern Gul... |
In Florida , the cyclone triggered flooding of some houses and roadways . Rainfall across its path peaked at 19 @.@ 89 inches ( 505 mm ) in Louisville , Georgia , though several locations received over 10 inches ( 250 mm ) of precipitation . The flooding caused a total of 12 deaths , mostly due to drowning , as well a... |
= = Meteorological history = =
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By early on October 6 , a low pressure area and circulation persisted over eastern Cuba in the middle levels of the atmosphere . The low drifted westward , and interacted with Hurricane Klaus to its east . Initially cold @-@ core in nature , the system gradually built downward to the surface , and on October 9 , the l... |
After passing midway between Key West and the Dry Tortugas , Tropical Storm Marco adopted a steady northward track and quickly intensified , reaching peak winds of 65 mph ( 100 km / h ) on October 11 , while still southwest of Englewood , Florida . The center of the storm continued on its off @-@ shore parallel for an... |
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