Originally published on Wed October 24, 2012 6:29 am
By Matt Levine
Hi! I am still here. I was once a banker and now I write for Dealbreaker and answer your questions about banking and whatnot. You can send questions to email@example.com with "ask a banker" in the subject line, or ask on Twitter (@planetmoney).
This is ALL THINGS CONSIDERED from NPR News. I'm Melissa Block.
AUDIE CORNISH, HOST:
And I'm Audie Cornish. Now, some business news. This past Friday and again today, the Dow Jones industrial average fell more than 200 points. The drop occurred after several big U.S. companies turned in disappointing results. NPR's Jim Zarroli explains.
Robert Griffo was living the high life at an investment firm on Wall Street when the stock market crashed 25 years ago on Black Monday. Along with the Dow Jones industrial average, Griffo's life tumbled.
Griffo tells StoryCorps he worked with the investment company for 11 years.
"I was making a lot of money," he says. "I used to walk over homeless people at Grand Central Station when they were begging for money, and I'd say, 'You need to get a job.' But I lost myself on Wall Street."
When the market crashed on Oct. 19, 1987, Griffo thought he would be let go.
The one-year anniversary of the Occupy Wall Street movement brought rallies and arrests Monday, as protesters marched in New York and other cities. More than 100 arrests were reported in New York, where activists marched near the city's stock exchange.
First, three stories from Thomas Peterffy's life as a trader:
When Peterffy was a kid growing up in communist Hungary in the 1950s his buddy went to Austria and brought back a pack of Juicy Fruit gum. Peterffy bought the pack, broke the sticks of gum up into little pieces, and sold them at a profit. The principal at his school was not amused. "Where's your communist conscience?" the principal asked.
Not surprisingly, given story #1, Peterffy moved to the U.S. as a young man.