Events on October 8 in history

Franklin National Bank (October 8, 1974)

Franklin National Bank collapses due to fraud and mismanagement; at the time it is the largest bank failure in the history of the United States.

Franklin National Bank, based in Franklin Square on Long Island, New York was once the United States' 20th largest bank. On October 8, 1974, it collapsed in obscure circumstances, involving Michele Sindona, renowned Mafia-banker and member of the irregular freemasonic lodge, Propaganda Due. It was at the time the largest bank failure in the history of the country.

References

Franklin National Bank

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Events on 1974

18 Jan

Yom Kippur War
A Disengagement of Forces agreement is signed between the Israeli and Egyptian governments, ending conflict on the Egyptian front of the Yom Kippur War.
27 Jun

Richard Nixon
U.S. president Richard Nixon visits the Soviet Union.
27 Jul

Richard Nixon
Watergate scandal: The House of Representatives Judiciary Committee votes 27 to 11 to recommend the first article of impeachment (for obstruction of justice) against President Richard Nixon.
9 Aug

Richard Nixon
As a direct result of the Watergate scandal, Richard Nixon becomes the first President of the United States to resign from office. His Vice President, Gerald Ford, becomes president.
8 Sep

Gerald Ford
Watergate scandal: US President Gerald Ford pardons former President Richard Nixon for any crimes Nixon may have committed while in office.

Events on October 8 in history

Franklin National Bank (October 8, 1974)

References

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Events on 1974

Yom Kippur War

Richard Nixon

Richard Nixon

Richard Nixon

Gerald Ford