Well...who would of guessed that Germania would buy the controling shares in Wall Street. Didnt see this one coming. Next we'll be selling off the Satue of Liberty.
Location: land of the Lilliputians, In the state of insanity
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I am somewhat ignorant to this. I tried to find a news article about it but couldnt. Would you happen to have a link? I would like to know more about this.
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kaafir mushrik
Unintended consequences and God have one thing in common: Liberals don’t believe in either of them.
Guess it was a good buy after being propped up by taxpayers.
At least someone can reap the benefits, if not the American taxpayer.
Your ignorance never ends does it? Please post where any money went to prop up the NYSE.
Burnie, this actually was one of the lead stories in the WSJ last week or the week before. I'm pretty sure I no longer have it but if you're cheap likeme, your local library would still have a copy of it. That is unless you're not already an on line subscriber.
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John Adams “The moment the idea is admitted into society that property is not as sacred as the laws of God, and that there is not a force of law and public justice to protect it, anarchy and tyranny commence.”
Ronald Reagan: 'Everybody that is for abortion has already been born'
"I never said I was worth it. I only said I wouldn't do it for less " William F. Buckley Jr.
I am somewhat ignorant to this. I tried to find a news article about it but couldnt. Would you happen to have a link? I would like to know more about this.
Google "NYSE Sale"...
It actually appears that a majority of the company will still be U.S. owned...
Duncan Niederauer, the CEO and Director of NYSE Euronext, Inc. (NYSE: NYX), spoke to CNBC today to clear up some of the confusion surrounding the merger between the New York Stock Exchange and Deutsche Börse.
“It is not a sale of the NYSE,” Niederauer said.
While Deutsche Börse's market cap may be higher, Niederauer insists that 55% of the NYSE will be owned by U.S. shareholders.
This merger will allow NYSE Euronext to create the first diversified exchange. “And it gives us opportunities to create our own destiny going forward,” Niederauer said. “If you think about it, what I've said for two years is exchanges should be competing across the value chain.”
With regard to the new name that will come from the merger, Niederauer would not reveal anything just yet. He did, however, say that it would not be called the DB/NYSE Group.
Further, Niederauer addressed the worries surrounding the new board members, with 10 coming from Deutsche Börse and only seven coming from NYSE Euronext.
However, most people don't realize that both stock exchanges have an international board. So while the majority of the board members will come from the U.S. and Germany, the new board will contain members from all over the world.
Finally, Niederauer said that the physical New York Stock Exchange isn't going anywhere. “We like this place,” he said. “We're investing in this place. If anything, our U.S. footprint gets bigger. Under no circumstance are we closing the floor here.”
I guess its only an American Instituion....much like the Northeastern Grid, which by the way, the British own.
Remember, this is the finish process of money returning back to this country through investments. As I have correctly pointed out many times over, trade deficits don't matter! Unless the money returns home here, it's just ink on paper. Here we have a foreign company buying an American entity when they have all over the world to spend that money. Now that money is going into the hands of someone else to invest how they choose.
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John Adams “The moment the idea is admitted into society that property is not as sacred as the laws of God, and that there is not a force of law and public justice to protect it, anarchy and tyranny commence.”
Ronald Reagan: 'Everybody that is for abortion has already been born'
"I never said I was worth it. I only said I wouldn't do it for less " William F. Buckley Jr.
Hey Texasgulf, have you been able to find out how US taxpayers propped up the NYSE yet?
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John Adams “The moment the idea is admitted into society that property is not as sacred as the laws of God, and that there is not a force of law and public justice to protect it, anarchy and tyranny commence.”
Ronald Reagan: 'Everybody that is for abortion has already been born'
"I never said I was worth it. I only said I wouldn't do it for less " William F. Buckley Jr.
Hey Texasgulf, have you been able to find out how US taxpayers propped up the NYSE yet?
uuuummmmmmm......what about bailouts??? Maybe I am wrong but wasn't that the point behind them in a way? If companies crahed it would have been too big of a hit on the market right??
Wolves at the door
Maybe I am wrong but wasn't that the point behind them in a way? If companies crahed it would have been too big of a hit on the market right??
