Greenberg: This Crisis is Different

Tuesday, October 14, 2008 2:18 PM

By: Julie Crawshaw

When President Eisenhower had an ileitis attack in 1956, the market dropped by 25 percent in one day, notes former Bear Stearns chair Ace Greenberg.

The panic was short-lived: Stocks went back up again.

Thirty-one years later, there was another Wall Street panic.

“In 1987, we saw blue chips go down 30 percent in two days. That created a panic, too, but it didn’t affect other sectors like banking or homes,â€