Richard Grasso quotes
American - Businessman
Clearly there are always unintended consequences of any legislative or regulatory act that's taken in the heat of battle.
What the American people don't understand is how Merrill Lynch or AIG or Lehman Brothers can reward people, and the entity fails. Not only do the shareholders lose, but the entities lose.
Let's take a timeout. Let's allow investors the opportunity in a period of market calm to re-examine what's happened and to deploy new strategies into the marketplace.
Our systems are all go. At 9:30 Monday morning trading will resume on both markets, and the message will be given to criminals who foisted this on America that they lost.
The globalization of the capital market is actually part of economic globalization. This will create a change in the entire world economy, not just restricted to some fields in some countries.
It should strengthen investors' confidence. This is done through transparency, high quality financial reports, and a standardized economic market. This is not just for China, but also for the world market as a whole.
This is a basic requirement the meaning of globalization is that we should admit that the economy of each country is dependent on the economy of all the others.
When I ran the stock exchange, it was the most successful it's been in its 200-plus-year history. And I was rewarded for success; I would not have been rewarded if we failed.