The Great Recession of 2009

"Perhaps because the process of his ruin had been so gradual, perhaps because the excitement of preceding events had exhausted their capacity for emotion, the actual consummation of his bankruptcy brought a relief, a repose to Lapham and his family, rather than a fresh sensation of calamity"

The Rise of Silas Lapham, 351

As I was reading The Rise of Silas Lapham, I couldn’t help but notice the striking similarities between the Lapham’s rapid plunge into poverty and the millions of family in the United States that lost their wealth in the recession of 2009.

For the majority of investors, their money was lost not because of foolish investments by individuals, but by greedy companies. In Howells novel, there is a stark divide between greed and ethics, which can be traced using the symbol of the house. Often these corporations took advantage of hardworking American citizens. In the novel, Silas assumed he would be successful by investing in stocks. However no longer do individuals usually invest in the stock market. Instead their funds are now in the hands of these corporations whom they trust to take care of their money. When these investment companies failed, people were left stunned and unable to adjust. I also like the catharsis suggested in this passage. Because the family never could perform as well as the upper class, they degradation was less severe. Readers are left feeling that they might be better off. However, this is problematic because it suggests that only those with “old money” can ever survive in the upper class.