Congrats MG
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Transcript of Congrats MG
Picture it.
On this day, March 8th 1938: At 10:05 a.m., only five minutes after the day's trading has begun, the
New York Stock Exchange closes trading. Astonished, hundreds of
brokers fall into a hush as Exchange president Charles Gay mounts
the rostrum. Gay announces that the firm run by his predecessor as
NYSE president, Richard Whitney, has been suspended for insolvency.
Then it's separately revealed that Whitney has committed "conduct
apparently contrary to just and equitable principles of trade." Reports
an eyewitness: "There was a dead silence, then a wild babble of
voices." Stocks drop 2% almost instantly, but then trading virtually
dries up as Wall Street realizes the Exchange has become a national
disgrace.
The silver lining: As shocked brokers seek to calm their nerves, the
bartender at the NYSE estimates that his volume increases 275%.
On this day, 66 years later: Michael Gaucher joins investment management firm,
T. Rowe Price.
And.
Businessman, Al Thompson, who called federal
income tax a hoax is convicted of thirteen charges of
tax evasion.
The events are not believed to be related.