After studying history's biggest crashes, Andrew Ross Sorkin tells us what parallels he sees between 1929 and today's stock market frenzy

Core Insights - The article discusses Andrew Ross Sorkin's new book "1929," which recounts the stock market crash that led to the Great Depression, highlighting the historical significance of The Plaza Hotel as a social hub for influential figures in finance [1][2] Group 1: Historical Context - The Plaza Hotel served as a gathering place for wealthy individuals and was directly involved in the stock market activities of the time, with its Oak Room bar functioning as a brokerage location [2] - During the 1920s, the atmosphere was characterized by speculation, as Prohibition led to the closure of bars, making stock trading a popular pastime [3] Group 2: Regulatory Changes - Significant regulatory changes have occurred since the 1920s, including the establishment of the Securities and Exchange Commission and requirements for companies to issue a prospectus for their stock offerings, which aim to prevent the market manipulation that was prevalent in the past [4] Group 3: Current Market Concerns - Sorkin expresses concern that similar conditions leading to the 1929 crash are re-emerging, particularly with the current AI-driven market enthusiasm, suggesting that human greed continues to influence market behavior [5]