Tuesday, 10 March 2009


Shortly after 8.00 on the morning of September 22, 1915, this stretch of Seventh Avenue between West 23rd and West 25th Streets, was the scene of an accident that killed twenty-five people. During work on the subway excavation for the construction of the new IRT (Interborough Rapid Transit Company), an explosion opened up a thirty-foot pit in the street that swallowed a crowded trolley car and a brewery truck. The death toll would have been higher but for the fact that the wooden planked structure gave way slowly, allowing hundreds of people on the street to scramble to solid ground.

As big a hole as it was, it still pales into insignificance when compared to the 'mind-boggling' size of the enormous hole left in the balance sheets of the world's leading financial institutions by 'toxic loans and other trading losses' made by negligent, foolhardy and totally irresponsible but surprisingly highly remunerated executives.

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