Wednesday, July 8, 2015

What Does The NYSE Have In Common With A (Caught) Embezzler?
Many embezzlers are caught when they take a vacation.  Suddenly someone else is sitting at the embezzler's desk and looking at the figures.  Something unusual is noticed.  The boss is called.  And when the embezzler returns from Cancun, the cuffs are waiting.
Today's computer shutdown of the NYSE really affected nothing.  Trading went on as usual, utilizing Nasdaq and other exchanges such as BATS.  But in so doing, the NYSE was exposed as what it has become:  a television studio, mostly for CNBC and for others as well.  Watch the floor when it is on tv and it looks like Coney Island . . . during the winter.
The NYSE is in the dinosaur class now and this vacation shows it.  



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