Report of the Presidential Task Force on Market Mechanisms: Submitted to the President of the United States, the Secretary of the Treasury, and the ... the Federal Reserve Board (Classic Reprint) - Hardcover

Inhaltsangabe

Excerpt from Report of the Presidential Task Force on Market Mechanisms: Submitted to the President of the United States, the Secretary of the Treasury, and the Chairman of the Federal Reserve Board

From the close of trading Tuesday, October 13, 1987 to the close of trading Monday, October 19, the Dow ]ones Industrial Average declined by almost one third, representing a loss in the value of all outstanding United States stocks of approximately trillion.

What made this market break extraordinary was the speed with which prices fell, the unprecedented volume of trading and the consequent threat to the financial system.

In response to these events, the President created the Task Force on Market Mechanisms. Its mandate was, in 60 days, to determine what happened and why, and to provide guidance in helping to prevent such a break from happening again.

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