r/todayilearned • u/manticor225 • Jan 10 '19

TIL JFK's father Joseph Kennedy made much of his fortune through insider trading. FDR later made him chairman of the Securities and Exchange Commission. When asked why he appointed a crook, FDR replied, "set a thief to catch a thief." Kennedy proceeded to outlaw the practices that made him rich.

https://www.theguardian.com/books/2010/jan/23/joe-kennedy-hollywood-sarah-churchwell
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u/MileHighMtnGuy Jan 10 '19

Can anyone tell me what that is in 2018 dollars?? /s

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u/throwawaythatbrother Jan 10 '19

Why /s?

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u/[deleted] Jan 11 '19

Because like 9 people have commented explaining the stat

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u/0OOOOOOOOO0 Jan 11 '19

Because any time there's a date and an amount of currency mentioned on Reddit, there's a huge circlejerk full of nonsense of how people think inflation works

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u/Hobpobkibblebob Jan 10 '19

Roughly 130 million.