Of countless throats could be heard. "They sound pleased..

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Occasioned a day of minor activity all of it down but nothing terribly drastic. That had all changed however after the last buyer had purchased the last discounted lot of American Treasuries-for some the numbers were just too good-with money taken from the liquida- tion of equities. That buyer already thought it had been a mistake and cursed himself for again riding the back of a trend instead of the front. At 10:30 A. M. local time the Paris market started a precipitous slide and inside of an hour European economic commentators were talking about a domino effect as the same thing happened in every market in every financial center. It was also noted that the central banks were trying the same thing that the Ameri- can Fed had attempted the previous day. It wasn't that it had been a bad idea. It was just that such ideas only worked once and European investors weren't buying. They were bailing out. It came as a relief when people started buy-.
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