Trashing the crash. (Brady report on October stock market crash)

National Review | February 5, 1988 | Copyright

THE YEAR OPENED with the dollar, stocks, and bonds up. But on January 8, the market suddenly dropped 140 points. "Traders were uneasy about the recommendations of the presidential commission studying the market's October plunge," noted the New York Times; "a government-commissioned study proposing sharp restraints on stock trading seemed to fuel the rout." There is some irony in a report on a stockmarket crash causing another crash in the stock market. Yet it reveals, once again, the inherent wisdom of people investing their own money, compared with experts who merely wish ...

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