Bankers are Eagles- Abraham Lincoln (Post No.7836)

Compiled  BY LONDON SWAMINATHAN

Post No.7836

Date uploaded in London – 16 April 2020   

Contact – swami_48@yahoo.com

Pictures are taken from various sources for spreading knowledge; this is a non- commercial blog. Thanks for your great pictures.

Stocks and Bonds Anecdotes

During the hectic days following the crash of 1929, many discussions of the whys and wherefores were overheard along Wall Street. One of the more honest and direct explanations of his plight was the following:

I hear that you lost quite a lot of money in the crash.

Were you a bull or a bear?

Neither, just a plain, simple jackass.

(The term “bull market” refers to a stock market that has been rising; a “bear market” is one where prices have been falling. … When it comes to individual investors, a “bull” expects stocks to rise, while a “bear” acts on the assumption they will fall.

Jackass – A Stupid Person.)

Xxx

Please Buy, Buy!

A stock broker suffering a slight nervous breakdown from the constant pressure of fluctuating business, was taken to hospital to rest.

While more or less in a daze, his nurse say, as she handed the patient’s chart to the doctor,

Temperature today 102.

Weakly the broker raised his head and said,

When it reaches 100-5, sell, then wearily fell back against his pillow.

Xxx

Bankers Meeting with Lincoln

The Hon.Hugh McCulloch, Secretary of the Treasury during Lincoln’s second term, was once announced with a delegation of New York bankers. As the party filed into the room, he proceeded them and said to the president, in a low voice,

These gentlemen from New York have come on to see the Secretary of the Treasury about our new loan. As bankers they are obliged to hold our national securities. I can vouch for their patriotism and loyalty, for, as the good Book says,

“Where the treasure is , there will the heart be also.”

To which Lincoln quickly replied,

There is another text Mr McCulloch I remember, that might equally apply,

“Where the carcass is there will the eagles be gathered together”.

Xxx

You hang People without ID!

Judge Giles Baker of a Pennsylvania county was likewise cashier of his home bank. A man presented a cheque one day for payment. He was a stranger. His evidence of identification was not satisfactory to the cashier.

Why, judge, said the man, I have known you to sentence men to be hanged on no better evidence than this!

Very likely, replied the judge. But when it comes to letting go of cold cash we have to be mighty careful.

Tags — bankers, stocks, bonds , anecdotes

Xxx Subham xxxx

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1 Comment

  1. This contains a severe warning to all sensible people- to stay off the stock market. Yet, people do not listen. The so called mutual funds operate on the basi of the stock market, yet even so called educated people do not care. And the government too extends concessions in this regard. No one knows how many people are going to lose in this period of continued inactivity due to the corona crisis. One may be sure the govt will do some gimmicks, but what people have to and do not realise is that ultimately it is the simple honest tax payer who pays!

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