Monday, September 15, 2008
I Survived Black Monday
... 21 years ago.
Of course, I was a mere child back then, working for a proprietary trading company. None of our software could keep up with the free-fall volume and gap from tick down to tick down. We slept at the office, sharing couches, trying to fix stuff. Eventually the traders walked off the floor because they couldn't handle it anymore and rumors flew like crazy. At the end of the day, our cash manager got a standing ovation for handling all the credit issues, counterparty problems, etc. etc. I can't remember her name, but what she did in '87 was truly amazing. The firm survived intact for a few more years, and the remnants still survive as a department of Bank of America (after having been bought and sold repeatedly).
Am sure there are some incredible stories out there today. Am SO glad I'm not there.
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