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You'd think the city (much less the United States) would have an interest in NOT allowing foreign ownership of the Stock Exchange. This will be a good opportunity for our Mayor to put his money where his mouth is...literally.
Umm, did anyone read the article...its the NYSE Euronext exchange. NYSE bought Europe’s second-largest exchange in 2007, which they called NYSE Euronext, which they are now looking to sell part of. This is NOT the NYSE.
Reading comprehension.
Also, a sensational thread name doesnt help.
The city is already being inundated by foreign entities buying major insitutions, landmarks, large commercial properties, etc by Soveriegn Wealth Funds (Arabs), Chinese congolomerates/investors, and others. The city has been selling itself off to foreigners for some time now, so this is nothing new. It isn't the end of anything ....it wasn't the end of Rockefeller Center when the Japanese bought it...and this is no different. Welcome to NYC...where everything is for sale, for the right price.
In my opinion, the sale of major institutions is a good thing. The investors who are buying them up want a good return on their investment. They don't want to lose money.
I think it's a good thing. Germans are much more intelligent when it comes to Business. Hence the reason why the German economy was able to recover much faster than the US.
Damn so i guess if this falls through nyc can kiss its financial status goodbye
Why? NYSE Euronext was already a American-Euro company to begin with. Its not like they are moving the exchange out of NYC or something. And its not the biggest financial institution.... its actually at the bottom of Fortune 500 that are NY based.
IlonaG did you really just say that? It has less to do with intelligence and more to do with government investment/regulations/priorities, a homogenous population which conforms, effective social programs, and a protected manufacturing sector. You add all those factors here, and you will see the US be as good or better than Germany or any other country....but we are not Germany...and there is a reason why the US is the mecca for people of all persuasions around the world, and Germany ain't.
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