So, it has occured to me that I will shortly be arriving in New York's Penn Station during evening rush hour on the day of the largest financial meltdown in recent US history. More later.
Really? People from our NY office reported more than a few people carrying the "I just emptied my desk" cardboard boxes. I'm told that they were leaving Lehman's building a few at a time and then being pounced on by techno-vultures... excuse me "members of the press."
The market is crazy right now trust me I know, I work in institutional investor services. However the Dow had only lost single digit percentage points yesterday, and closed up today 1.3% from yesterday.
1929 - double digit percentage points, 12.8% and 11.7% in two days of trading 1987 - Oct 19th, 22.86% in a day. 2001 - Sept 17th, 7% in a day after being closed for a week.
We have not even remotely hit these numbers this week.
Welcome to New York!
Date: 2008-09-15 09:55 pm (UTC)no subject
Date: 2008-09-15 09:56 pm (UTC)no subject
Date: 2008-09-16 12:39 am (UTC)I started looking for more info, and found an article in Time saying that during the '29 stock crash there were less suicides than any previous years.
Something must be done to set this right. If they won't jump by themselves, it is our imperative to make them jump.
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Date: 2008-09-16 03:57 am (UTC)I want to claim the moral high-ground on this, and claim it didn't make me smile and laugh. But I'd be lying.
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Date: 2008-09-16 10:24 am (UTC)no subject
Date: 2008-09-16 02:55 pm (UTC)no subject
Date: 2008-09-15 10:35 pm (UTC)no subject
Date: 2008-09-16 07:03 am (UTC)no subject
Date: 2008-09-16 03:12 am (UTC)(I was a bit distracted, though, since I had a 2' by 6' painting in my hands.)
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Date: 2008-09-16 03:26 pm (UTC)no subject
Date: 2008-09-17 12:33 am (UTC)1929 - double digit percentage points, 12.8% and 11.7% in two days of trading
1987 - Oct 19th, 22.86% in a day.
2001 - Sept 17th, 7% in a day after being closed for a week.
We have not even remotely hit these numbers this week.