About this episode
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. Learn more about your ad-choices at https://www.iheartpodcastnetwork.com See omnystudio.com/listener for privacy information.