We started class with the video from yesterday.2. Story of the SMC? (continued from yesterday)---Thursday, the first black thursday. In the morning, the stock market took a terrific tumble. The market opened in a free fall. Some people couldn't get and bids for their shares. There was a huge crowd outside. At high-noon, all eyes were on some guy. The real crash came on that following Tuesday. It was like trying to stop Niagra Falls, everyone wanted to sell. They had never seen anything like it. Everything was gone.3. What is pooling?--Wealthy investors would rise the amount of a stock and then sell it. They would aquire a position in the stock early on. If you were a pool operator, you would call someone and say you had an envelope waiting for them. After all this, the stock will collapse.4. What did the Federal Reserve Board do?---The American economy was showing very many signs of trouble. Car sells were dropping because people didnt have they money to buy or they just didnt want to. Stock prices no longer had anything to do with businesses profits. The prices went up, so people bought, that made the prices go up anymore, and so more people bought. Overnight, the stock market crashed just like that.Last semester we hardly watched any videos in class. I like how we are watching more this semester.
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