“Wall Street is prepared for violent swings...
“Wall Street is prepared for violent swings in the market. You might get a little nervous about a day like today, but there’s no shock.”
--Jeffrey B. Lane, the president of Shearson Lehman Bros., on Friday’s 140.58-point plunge in the Dow Jones industrial average, most of which came in the last two hours of trading.
“I don’t understand why Ford would want that company. The Rolls-Royces of the savings and loan industry are priced like Chevrolets, so why buy a Rent-a-Wreck?”
-Jonathan Gray, analyst for Sanford C. Bernstein & Co., on the suspension of Ford’s negotiations to buy American Savings & Loan Assn.
“They’re not doing it out of the goodness of their hearts. They’re doing it to limit the damage to their exporters.”
--Robert H. Chandross, chief North American economist for Lloyds Bank, on moves by the Bank of Japan and the West German Bundesbank to support the value of the dollar.
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