Burn, Wall Street, Burn!

Doug Henwood dhenwood at panix.com
Tue Sep 1 10:07:06 PDT 1998

Mark Jones wrote:

>Guinness followed by coffee? Hmmm. The proper procedure is a pint of
>Guinness followed by a large Lagavulin. Smoke a cigar, preferably Cuban,
>while watching bankers throw themselves off ledges, recall Voltaire's
>words ('If you see a banker jump from a window, be sure to do the
>same'), smile and order the same again and this time drink the whisky as
>a chaser, ie not serially.

Walking down Wall Street at 5 PM yesterday towards the WBAI studio, I was struck by how silent it was. Cabbies and hot-dog vendors were talking to each other, but the boys & girls in suits hardly spoke a word. It was eerie. I dropped in at Harry's around 6 (Harry's is an old-style Wall Street bar) and there was hardly anyone there. My hard luck was to stand next to a trio of gold traders, who were convinced their day was here, even though dollar gold prices are at their lowest real levels since the early 1970s. (When FDR fixed the gold price at $35/oz, it was worth $427 in 1998 dollars; yesterday's London PM fixing was $273.) The stox guys that were there (all but one of them male) didn't want to talk about the market; they just wanted to drink beer and nibble on chicken parts.


More information about the lbo-talk mailing list