![]() All of this money then flowed out of the banks and into the Italian property market.Ĭhaos resulted. Soon they were calling in the loans they had made, selling the bonds they owned, and withdrawing the money they had deposited in banks. ![]() The sudden enforcement of a law requiring senators to own property compelled all 600 senators to change their assets radically. The Senate was given 18 months to get its membership back into compliance. Rome’s crisis began in 33 CE, when anonymous informers accused members of the Roman Senate of enriching themselves by loaning money, thus violating a law that mandated senators hold parts of their fortunes in Italian real estate. Like today, that action was quite unpopular. Roman banks survived then because the imperial government injected large sums to stabilize the credit market. ![]() In the 1 st century, the unexpected movement of large amounts of capital nearly caused the Roman banking system to collapse. ![]()
0 Comments
Leave a Reply. |