From progression to regression: Wall Street moves into the closet
A 200-year evolution followed by a 10-year devolution, progression turned to regression in no time at all. The exchanges went for-profit and a third of all trading activity migrated away into the dark recesses of a utility closet.
A 200-year evolution followed by a 10-year devolution, progression turned to regression in no time at all. The exchanges went for-profit and a third of all trading activity migrated away into the dark recesses of a utility closet.
By Joshua M. Brown, Guest blogger
We've come a long way in the history of American capital markets, a 200 year evolution followed by a 10 year devolution, progression turned to regression in no time at all.
After building the most vibrant, open, fair and admirable marketplace on the planet, we decided that this was no good - and so the exchanges went for-profit and a third of all trading activity migrated away from the lights into the dark recesses of a utility closet.
Congratulations are in order all around!
From BusinessWeek: