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Overconnected: The Promise and Threat of the Internet by William H. Davidow

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EIGHT

How the Internet Tricked Iceland

When I was growing up near Chicago, my friends and I often took the electric train to the movie theater in nearby Glencoe to catch a Saturday matinee. On the way from the train station to the theater, we walked by the imposing façade of the Glencoe National Bank, a victim of the Depression. Still empty in the 1940s, the building served as an ever-present reminder of past excesses.

In the 1950s, backed by my father and other local businessmen, the bank reopened. I would frequently accompany my parents there, and whenever they needed access to their safe-deposit box, I got to see the bank’s massive, awe-inspiring steel vault. I remember the imposing façade, the sense of stability and fiscal security it inspired, ...

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