1929: The Great Crash (22 of 30)

1929: The Great Crash

I am one of the lambs that Wall Street has shorn.
When I was a little girl, a patron of art left me a million dollars for my musical education.
But I thought I couldn't live on the income from a million dollars, so I asked all my rich friends for tips on the market.
They gave them to me and I lost my million.
Now the only thing I have left is this chinchilla coat of mine.
From now, on my hands are off the ticker and on the piano keys.
But if you're lucky enough to have a million dollars, hold everything and don't play the market.
Another performer who had gambled and lost was Groucho Marx.

His reckless speculation cost him everything he'd earned.
The fate of Alice Austen, the photographer from Staten Island, was also typical of those who had been lured into the market without realizing the risks.
Basically, she loses everything.
In '29, '30 her account is wiped out.
And it comes as a shock for Alice Austen.
And I don't think she believes it, like a lot of people, you just can't believe it.
And she thinks all I have to do is to wait a little bit and the market will come back.
And she continued living as if she was rich.
And Alice also mortgaged her house, not to pay her bills, but because she once again wanted to take a fancy trip to Europe.
My father lost everything.
He was losing everything, but he was 22.
He took it magnanimously.
When you're 22 it isn't as dramatic.