Wednesday September 101992 400 PM

The afternoon of Black Wednesday grows darker and darker. The British are caving in, dropping out of the European Exchange Rate Mechanism.

The winners, like George Soros, are grinning; the losers, like John Major and Norman Lamont, are sadly admitting defeat.

Bank of England officials engage in a conference call with members of the other central banks in Europe, passing on the news that sterling is being suspended from the ERM.

The pound has fallen 2.7 percent against the mark and is trading at 2.703 marks in late New York trading, well below its former ERM floor level.

Lessons From The Intelligent Investor

Lessons From The Intelligent Investor

If you're like a lot of people watching the recession unfold, you have likely started to look at your finances under a microscope. Perhaps you have started saving the annual savings rate by people has started to recover a bit.

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