TeachMeFinance.com - explain Hammered
Hammered -- Said when a member of the London Stock
Exchange is declared a defaulter that is, when he fails to
meet his contracts. The head waiter (attendant), acting under instructions from
the committee for general purposes, strikes three blows with
his wooden hammer or mallet on his rostrum to secure attention,
after which he announces that "Mr. Blank is unable to
comply with his bargains" (contracts).
About the author
Copyright © 2007 by Mark McCracken, All Rights Reserved. TeachMeFinance.com is an informational website, and should not be used as a substitute for professional financial or legal advice. TeachMeFinance.com and its owner recommend consultation with a professional financial advisor prior to any investment or financial decision. Please read our disclaimer.