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Credit Crisis - Sums It Up (Adult Language)

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Credit Crisis - Sums It Up (Adult Language)

Postby Strong Eagle » Tue, 30 Sep 2008 4:24 pm

For those of you perhaps not familiar with US history, during the Great Depression stock market crash of 1929 and 1930, many people on Wall Street, on learning that they were completely wiped out, did indeed jump from their office windows to their deaths.

I think at least a few follow ups this time around would be appropriate... and let's hold off on the bailout.

The building with the flag on it, by the way, is the New York Stock Exchange.

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Postby cavalier » Tue, 30 Sep 2008 4:50 pm

It's actually a myth.

From http://www.slate.com/id/2200633/:

Tall tales about panicked speculators leaping to their deaths have become part of the popular lore about the Great Crash. But although jumping from bridges or buildings was the second-most-popular form of suicide in New York between 1921 and 1931, the "crash-related jumping epidemic" is just a myth. Between Black Thursday and the end of 1929, only four of the 100 suicides and suicide attempts reported in the New York Times were plunges linked to the crash, and only two took place on Wall Street. (There were some crash-related suicides that didn't involve fatal jumps: The president of County Trust Co. and the head of Rochester Gas and Electric both killed themselves, but they used a gun and gas, respectively.)

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Postby Strong Eagle » Tue, 30 Sep 2008 5:08 pm

cavalier wrote:It's actually a myth.

From http://www.slate.com/id/2200633/:

Tall tales about panicked speculators leaping to their deaths have become part of the popular lore about the Great Crash. But although jumping from bridges or buildings was the second-most-popular form of suicide in New York between 1921 and 1931, the "crash-related jumping epidemic" is just a myth. Between Black Thursday and the end of 1929, only four of the 100 suicides and suicide attempts reported in the New York Times were plunges linked to the crash, and only two took place on Wall Street. (There were some crash-related suicides that didn't involve fatal jumps: The president of County Trust Co. and the head of Rochester Gas and Electric both killed themselves, but they used a gun and gas, respectively.)


OK - then these guys have the opportunity of committing a new form of hari-kari.

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Postby cavalier » Wed, 01 Oct 2008 11:41 am

Save room for DC. I read today that the national debt increased from $5.3 trillion at the time GW took office to $9.8 trillion today. It would be funny if it wasn't so sad given that GW ran on a conservative, small-govt platform. And oh yeah, no nation building...

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Postby durain » Thu, 02 Oct 2008 6:42 am

yeah, but in wall street, most of the building you cant open the darn window! yes, i worked in wall street before. :P

and why jump when 700 billion is waiting for you? :D


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