When the rich fall on hard times, they often end up resorting to selling the family jewels to meet their debts or living expenses.
That is the image that came to mind after hearing reports that Deutsche Borse was in advanced talks to merge with NYSE Euronext…in a seeming merger of equals. But the German exchange operator would wind up with a majority stake in the New York Stock Exchange, an icon of the city from which it takes its name.
The Big Board is the very embodiment of U.S. capitalism, and for it to fall under foreign control can’t help but be disquieting to many Americans. The takeover of this citadel of securities trading at the intersection of what may become Wall and Broad Strasse could raise a similar ruckus as the acquisition of that midtown Manhattan icon, Rockefeller Center, by Japanese investors in the late 1980s.
Read it all.
(Barrons) Randall Forsyth–Selling the Family Jewels at Wall and Broad Strasse
When the rich fall on hard times, they often end up resorting to selling the family jewels to meet their debts or living expenses.
That is the image that came to mind after hearing reports that Deutsche Borse was in advanced talks to merge with NYSE Euronext…in a seeming merger of equals. But the German exchange operator would wind up with a majority stake in the New York Stock Exchange, an icon of the city from which it takes its name.
The Big Board is the very embodiment of U.S. capitalism, and for it to fall under foreign control can’t help but be disquieting to many Americans. The takeover of this citadel of securities trading at the intersection of what may become Wall and Broad Strasse could raise a similar ruckus as the acquisition of that midtown Manhattan icon, Rockefeller Center, by Japanese investors in the late 1980s.
Read it all.