Wall Street: The Professionals Take Over

At the height of Wall Street's trading frenzy last week, Chase Manhattan Bank Economist William Butler told a top New York broker: "Well, I guess this is a healthy readjustment." Snapped the broker: "One more healthy readjustment like this and I'll go through the window.''

Nobody went through the window, and few really went through the wringer. But the convulsion that swept the stock market cost millions of Americans dear in anticipated profits, and particularly the amateurs among "small investors" who put their money into the market at or near its peak...

Want the full story?

Subscribe Now


Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on TIME.com

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!