The First Year

Wednesday, February 10, 2010

How the Stock Market Crashed

Posted by Braden

I was in the hallway of the Testing Center a few days ago, doing one last review before going up the stairs to grab my test. I heard a commotion by the main stairwell, so I took a look. All of a sudden, the line to pick up your test was going down the stairs and growing every second! I, like everybody else, picked up my stuff and hurried to get in line—I didn't want to be waiting forever to get my test! In a matter of 60 seconds, the line went from nonexistent to wrapping all the way around on the second floor, down the steps, and then down the hallway on the first floor.

How did it happen? Like this:

An accounting class of 300 kids had to take their test by 4 p.m. that day, and it had a one-hour time limit. The vast majority of them waited until the last day, coming with just enough time to study for a wee bit before taking the test. A group of friends walked in the door and got in line. Those who were studying accounting saw that the line was getting full and knew they needed to jump in line to get their full hour! Those not in the accounting class didn't want to be stuck in line forever, perhaps rationalizing, "I want time to study, but I don't need THAT much time," so they all rushed to get in line. The slightly slower accounting kids saw the rapidly growing line and panicked and ran to the line. Other kids saw those kids running, so they ran too.

It was all very exciting. And now I know how the stock market crashed.

2 comments:

Laura said...

Ha, I stood in that line too. I was finishing up reviewing my notes, thought I would go to the restroom before my three hour test, and then thought again when I saw the long line forming. By the end of the test, I thought I was going to pee my pant but I was just grateful to have the test in my hands and that I made it through that long line!

ldsjaneite said...

The joys of the testing center. :-)