Albert Wiggin’s Wall Street Fall: Shorting His Own Bank During the Crash

In this edition of This Week in Wall Street History, host Todd M. Schoenberger revisits one of the financial world’s most notorious scandals. Albert H. Wiggin, once celebrated as a titan of banking, was revealed during the Great Depression to have short-sold 42,000 shares of his own firm, Chase National Bank, even as the bank infused capital to stabilize markets—profiting millions from insider knowledge. Wiggin’s actions not only tarnished his legacy but directly led to the creation of the “Wiggin Provision,” which prohibited directors from short-selling their own institutions—an early attempt to curb banking abuses. Join us for a gripping look at one of Wall Street’s biggest betrayals, the fallout that followed, and the reforms that changed financial regulation forever. Want more dramatic tales from the world of finance that shaped our markets? Subscribe to CrossCheck Media on YouTube to keep up with This Week in Wall Street History, Money Mavericks, WealthWise, and expert-led market analysis. Looking to elevate your brand with an audience that’s curious, financially literate, and historically aware? Advertise with Buy Hold Sell and other CrossCheck Media shows, distributed on the Biz Talk Today TV network. Contact us at [email protected] to explore partnership opportunities. 📢 Like 👍 | Comment 💬 | Subscribe 🔔 for more in-depth market analysis! 🔗 Website: ⁠⁠⁠https://crosscheckmanagement.com/⁠⁠⁠ 📧 Contact on Email: ⁠⁠⁠[email protected] ⁠⁠⁠ 📱 Follow us for real-time updates: 🔹 LinkedIn: / ⁠⁠⁠(1) CrossCheck Media Inc.: Overview | LinkedIn⁠⁠⁠ 📸 Instagram: / ⁠⁠⁠(@crosscheckmedia) • Instagram photos and videos⁠⁠⁠ 📘 Facebook: / ⁠⁠⁠(1) Facebook⁠⁠⁠ 📢 Disclaimer: The views and opinions expressed in this episode are those of the guests and hosts and do not necessarily reflect the official policy or position of CrossCheck Media or Biz Talk Today TV. All content is for informational purposes only and should not be construed as financial, legal, or investment advice. Viewers are encouraged to conduct their own due diligence and consult with a licensed professional before making any financial decisions. A buyer-beware approach is always prudent. #WallStreetHistory, #AlbertWiggin, #BankingScandal, #ShortSelling, #GreatDepression, #FinancialRegulation, #WigginProvision, #BuyHoldSell SEO Hashtags (one line) Learn more about your ad choices. Visit megaphone.fm/adchoices See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.