The South Sea Bubble

The South Sea Bubble

By iHeartPodcasts

Stuff You Missed in History Class

Monday, 7 February

In the early 18th century, Britain needed money. In 1711, the South Sea Company was established to try to manage this debt, and the heart of the debt consolidation the company arranged was a debt-for-equity swap that did NOT keep the nation from incurring more debt. 

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