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TigerintheNO
LSU Fan
New Orleans
Member since Jan 2004
30901 posts

re: On this date in 1987, the Dow Jones Industrial Average, for the first time ever, closed...
quote:


Your teacher lied to you.


His teacher was correct
quote:

The death of retired businessman Vernon Lamberg, 58, of Appleton, is at least the third linked to the volatile stock market.


quote:

Lamberg, retired president of Appleton Machine Co., was found dead Friday morning at Brock's Motel in Wautoma, located about 80 miles northwest of Milwaukee, two days after he was reported missing. A sheriff's report said he was 'very despondent over the stock market situation.'

Lamberg asphyxiated himself by breaking the line to the liquid petroleum furnace to his motel room, said Waushara County Coroner Roland Handel Sr.

'He had been dead eight to 10 hours when we found him,' Handel said. 'He had checked in a day or two earlier.'

Lamberg, described by friends as an astute businessman, lost an estimated $500,000 when the Dow Jones industrial average plummeted a record 508 points Oct. 19, the largest single drop in Wall Street history, a source told The Milwaukee Sentinel in a published report Tuesday.

'He considered himself to be an expert,' said the source, who asked that his name not be made public.

'He exposed himself to too much risk, and he got caught. He got caught in the worst market day in the history of this country,' the source said.

The source told the paper that the breaking point for Lamberg was when his broker asked for $200,000 more collateral to back up loans Lamberg had taken from the broker for future investments.





LSURussian
LSU Fan
Member since Feb 2005
112317 posts

re: On this date in 1987, the Dow Jones Industrial Average, for the first time ever, closed...
quote:

our government/civics teacher telling us about stock brokers committing suicide over Black Monday
quote:

His teacher was correct

quote:

The death of retired businessman
Where does it say in the link you posted the guy who committed suicide was a stock broker?

His teacher lied.


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04
foshizzle
LSU Fan
Washington DC metro
Member since Mar 2008
40599 posts

re: On this date in 1987, the Dow Jones Industrial Average, for the first time ever, closed...
quote:

quote:
must have been thinking of the Great Depression where bankers were jumping out of windows.
As the other poster pointed out, that's an urban legend that never happened.


Hold on here. Are you saying people used to spread fake news before Facebook? Before the internet, even?

Why I do declare ...


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51
Joshjrn
LSU Fan
Baton Rouge
Member since Dec 2008
13084 posts

re: On this date in 1987, the Dow Jones Industrial Average, for the first time ever, closed...
quote:

Russian? Yeah right. That 3rd grader doesn’t know his elbow from his a s s h o l e.


Russian and I may not always get along, but I’m fairly certain he’s forgotten more about equity markets than you will ever know


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