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Keynes’s Beauty Contest
13. KEYNES’S BEAUTY
CONTEST
For almost four d cad s, Harry’s at
Hanov r Squar has b n a popular
Wall Str t gin mill. Op n d in 1972
by Harry Poulakakos, a Gr k
immigrant who pr viously had b n
a h adwait r at th n arby
D lmonico’s, it clos d for a tim
som y ars ago but is now op rating
again, und r Harry’s son, P t r. On
th v ning of Monday, Octob r 19,
1987, I rush d downtown from my
apartm nt in th Villag , xp cting to
find som Wall Str t typ s crying
into th ir glass s: that day, th Dow
had plumm t d 508 points, from
2,246.73 to 1,738.74, its bigg st
p rc ntag fall in history—22.6
p rc nt. Th s lling had b n so
int ns that th N w York Stock
Exchang ’s trading syst ms had
buckl d. Many brok rs had stopp d
answ ring th ir phon s, and x cut d
ord rs had b n r port d up to an
hour lat , l aving inv stors unabl to
t ll wh r stocks w r trading.
To my surpris , Harry’s was
pack d, and th r was a carnival
atmosph r . Trad rs and brok rs
w r busy r galing j ournalists with
d tails of th crash; whit -shirt d
wait rs w r f rrying trays of
champagn and whisk y; glamorous
wom n of unc rtain origin w r on
hand. As a young r port r
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