Just what we need. LINK
A German company is in high-level talks to acquire the New York Stock Exchange, Wall Street’s most recognizable institution. According to reports published in both the German and American financial press, Deutsche Borse, a Frankfurt-based stock exchange is seeking to take a 60 percent ownership interest in the NYSE. The merger would create the world’s largest financial exchange.
News of the deal sent both NYSE and Deutsche Borse stock soaring Thursday.
I see where the article refers to investors seeing this as a positive move.
And here is the reason.
The merger rumblings were greeted positively by investors, largely because the deal with Deutsche Borse would give the NYSE an instant presence in the lucrative derivatives markets. Traditionalists in the stock business have expressed hesitation about that transition.
What does this mean for workers and regular people struggling to get along? It means the powerful will increase their power and in relative terms that the great unwashed will be diminished.
I can see where on both sides of the pond regulators will fall all over themselves doing whatever it takes, changing any law etc, to see this happens. Dam it’s getting dark out.