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TeachMeFinance.com - explain Hammered historic definition... 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 Mark McCracken Author: Mark McCracken is a corporate trainer and author living in Higashi Osaka, Japan. He is the author of thousands of online articles as well as the Business English textbook, "25 Business Skills in English". 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.