Manhattan democrats. I cant shake that the link that some people here are pulling for me. [applause] i am delighted to see you here tonight. I was thrilled to get this invitation. I feel right at home here because it is often said i share the politics of alfred e. Smith and the ears of alfred newman. It is an honor to be here with al smith. I never knew your great grandfather. Everything senator mccain told me, the two of them had a great time before prohibition. [laughter] i am not surprised by the final repeal of the 18th amendment. When this matter was submitted, they would readily see it had no place in our constitution. It would be very difficult if not impossible to explain to those who come to this country to make it their business to seek that no such matter as this is ever againthey found all yous go to brooklyn. This was the neighborhood where all smith grew up. He raised his children here. He went to school right around the block. His father died, and he had to go off to wor
Are signs of hope. Even in the most unexpected places. Even in this room full of proud manhattan democrats. I cant shake that the link that some people here are pulling for me. [applause] i am delighted to see you here tonight. I was thrilled to get this invitation. I feel right at home here because it is often said i share the politics of alfred e. Smith and the ears of alfred newman. It is an honor to be here with al smith. I never knew your great grandfather. Everything senator mccain told me, the two of them had a great time before prohibition. [laughter] i am not surprised by the final repeal of the 18th amendment. When this matter was submitted, they would readily see it had no place in our constitution. It would be very difficult if not impossible to explain to those who come to this country to make it their business to seek that no such matter as this is ever againthey found all yous go to brooklyn. This was the neighborhood where all smith grew up. He raised his children here.
How big when it comes the dow sold off nearly a quarter of its value, wiped out in a single day. That would b the equivalent of the dow umbling more than 3000 points today. Still back in 1987 every major blip and bump since we always heard the same stock song and dce, didnt we. Cant happen again. Won happen again. Too many protections now. The circuit breake that were supposed to arrest panic but did not. The curbs that were meant to ease us into a freefall and ease us out of a freefall that could not. Tr as we might new gremlins keep tesng our might. That is one thing we learn from market history, the smtest programs, the fancy evident algorithms and canny leverage or daring derivative or i dont know, savvy swap cant prevent slop. Beware those who say hisry cant repeat itse. History proves it always, always does. To former bb t jo allison who was president o that bank 25 years ago today on the very real warning signs it can happen again today. John, a pleasure to have you. You dont lo