Black Market

12

The following morning, eighty-three-year-old Anton Birnbaum, appearing on a special edition of the PBS show “Wall Street Week,” explained why the destruction of Manhattan 's financial district did not exactly signal the end of the civilized world.

“The major American market was indeed knocked out this past Friday. More markets exist out there, however-believe it or not-and they may just possibly become the beneficiaries of this disaster… These markets are the midwestern, the Pacific, and the Philadelphia exchanges. They handle local issues as well as certain board listings. If Joe Investor has to sell fifty shares of A T and T to meet the balloon payment on his mortgage, his local broker may well be able to make a deal for him outside New York. Of course, he may not find a buyer at a price even close to what he's asking.

“Obviously,” Birnbaum went on, “ Chicago is where the significant action is this week. Between the midwest exchange and the two premier commodity exchanges, there are still plenty of opportunities for everyone to lose a lot of money.”

Even as he gave this purposely calming and reassuring speech, Anton Birnbaum knew that the existing situation was more tragic than he dared admit. Like almost everyone intimately connected with the market, he fully expected a crash.

In a way, somewhere deep in the recesses of his mind, he almost welcomed the purification rite, so very long overdue. As of Tuesday morning, the venerable financier had no idea how large a part he himself would play in Green Band.