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Once in Golconda: A True Drama of Wall Street 1920–1938 by John Brooks

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Chapter Twelve

Denouement

I

It was, of course, an instant national sensation, “LINK WHITNEY TO MISSING BONDS,” the New York Daily News screamed on its front page. On Tuesday, March 8, the day of the Stock Exchange’s first announcement, Whitney and his partners filed bankruptcy papers; the New York State and County authorities, caught wholly by surprise, rushed to prepare indictments; and Whitney testified before a hastily convened hearing of the SEC. Here he was candid, self-possessed, almost offhand; to a questioner who asked him something that seemed to him not to make sense, he showed that he was determined to remain casual and in character by answering out of the language of the hunt: “Your question doesn’t gee and haw, Commissioner.”

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