U svojoj knjizi "FDR, my exploited father-in-law" iz 1970 godine, objasnio je da slom bio iniciran planiranim i iznenadnim opozivom kratkoročnih pozajmica:
In his 1970 book, "FDR: My Exploited Father-in-law", he explained that the crash was triggered by the planned sudden shortage of call money in the NY money market.