MARCH 16, 1957

Full News Archive

• Headline: Canada Limits Mortgage Funding in 1957. Impact: This mortgage ceiling set off a chain reaction of financial regulations that eventually led to the infamous 2008 housing market crash. Who knew a $150 million cap could trigger a global economic meltdown? Thanks, Canada!. Fact: Did you know that Canadians still talk about money like it's a national sport? Maybe that's why they were so cautious in '57..
• Headline: C J Duveen Jr Critiques Contemporary Art. Impact: This art dealer's disdain for contemporary artists led to a secret underground movement where artists began painting in total defiance, resulting in an art revolution. Thanks, C.J. Duveen Jr. for igniting the 'Don't Like It, Just Create It' movement.. Fact: Fun fact: The more you complain about art, the more likely you are to become a meme. Just ask Duveen!.
• Headline: HARVARD UNVEILS 2 NEW SONGS HERE; Works by Alan Jay Lerner and Leonard Bernstein Presented by Glee Club. Impact: Harvard's unveiling of new songs was the start of a musical arms race among Ivy League schools. Eventually, Yale had to step up their game and produced an opera about a disgruntled squirrel. You can't make this stuff up.. Fact: Did you know that raising $87.5 million is a lot easier when you have alumni with deep pockets? Or just lots of free time?.
• Headline: FREDERIC ABBOTT, NEWSMAN, WAS 64; Former I.N.S. Bureau Head in Paris Dies--Had Worked for O.S.S., United Nations. Impact: Abbott's passing left a void in the news industry, resulting in a strange period where journalists started wearing fedoras and using typewriters again. Classy, right?. Fact: Did you know that Frederic Abbott worked for the O.S.S.? Sounds like a spy novel waiting to happen—too bad he didn't write one!.
• Headline: AVOIDING A DEFICIT. Impact: The push to avoid a deficit led to the birth of the never-ending cycle of tax reforms. Fast forward to today, and we’re still debating tax cuts while politicians have permanent seats at the buffet table.. Fact: Did you know that tax debates often rage on longer than most relationships? At least relationships can end with a happy breakup..
• Headline: Books of The Times; Eyes Long on Distant Goals Reversal of Refrigeration. Impact: Sullivan's 'Quest for a Continent' would inspire generations of explorers and historians, leading to countless debates over the best pizza toppings. Truly, it’s a quest that never ends.. Fact: Did you know that reversing refrigeration sounds like something out of a sci-fi movie? Imagine your ice cream melting while you ponder life’s deeper questions..