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Chuck Schumer On The "Biggest Issue" In The NYSE Takeover
Forget that the NYSE is being taken over by a German company (sorry guys, nobody is that dumb to buy the bs argument that Fidelity investors, all of whom are "undeniably" American, own both). The biggest nut apparently is the supremely superficial: i.e., what will be the name of the post-merger exchange. No, this is not an Onion summary. And yes, on this issue Chuck Schumer is relentless...
U.S. Senator Charles E. Schumer released the following statement on the planned merger of the New York Stock Exchange and Deutsche Borse:
“There are many things to like about this announcement, especially that it will open up new markets to NYSE and keep New York the world’s leading financial center. There is a long way to go before this is a done deal, and I will reserve judgment until all the details are settled. An outstanding issue that is important to me is the name of the new exchange. NYSE is one of the most preeminent brands in the financial industry, and there is no reason it shouldn’t come first in the new exchange’s name. If Deutsche Borse pushes any alternative name, it would be an indication that they are not viewing this deal as a merger of equals and that could have negative consequences with regard to future decisions on the merger’s implementations. The New York Stock Exchange will be the crown jewel in this new operation, and the name of the new company should reflect that.”
--U.S. Senator Charles E. Schumer
Um, newsflash: it is not a merger of equals: the DB is effectively buying the NYSE. But who cares about math (not the president - has anyone seen the budget?)
What we want to know is whether this means that our attempt to change the vernacular appellation of HFT to "fully computerized scalping, frontrunning and churning" is a no go? Or changing the name of BATS to Flash Crash central? Or Nasdaq to Hijacked Hacker Haven? But how will people know the truth about the nature of the beast if it is not properly reflected in the name???
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lol who can afford a NYSE in this economy!
The Chinese ;)
...that could have negative consequences with regard to future decisions on the merger’s implementations.
Like your broke nigger ass will have any say in the matter.
I am Chumbawamba.
BEHAVE YOURSELF YOUNG MAN!
http://www.youtube.com/watch?v=HKQuL-RC1-4
http://www.youtube.com/watch?v=FbX7KIc2Qvk
"Like your broke nigger ass will have any say in the matter.
I am Chumbawamba."
no, ur a fucking cowardly asshole...being a virtual racist is a lot less painful than sayin shit to someones face aint it.......
Um, excuse me, but upon what basis have you determined that I am racist? Racist against whom exactly?
I am Chumbawamba.
You used the N-word and it's pretty derogatory to African Americans. Can't do that, we're not in the '50s anymore.
Chumba -you've run into the Chuck Shummer Action Acttack Posse. They're gonna insist on the use of approved language while they tear the house down. No if ands or buts.
From yesterday
Me thinks there is a nigger in the woodpile somewhere in this deal.
What the F--- does the 50's have to do with the word??? Were you growing up during that time? I was and I really don't get your drift. It wasn't used by anyone unless you knew the dude. Milestones
Well, slap my 'fro and knock da black off me! You can look forward to just about every post of yours bein' greeted by "Jive!"
IS Schumer being paid as a brand-consultant in addition to his regular gig as political diversion?
How long before Michele Bachmann gets confused and drafts emergency legislation preventing Obama from replacing the US dollar with the Deutsche mark? Remember her (and Hannity's) "reserve currency" confusion?
http://www.youtube.com/watch?v=5RUuzxUx60I
http://bachmann.house.gov/News/DocumentSingle.aspx?DocumentID=116036
Mullets/Bullets/Tea Party 2012
Man what is your gripes against the second amendment. Many libertarians in this blog,and I know are either deist,atheist,or agnostic. Second Bachman is a traitor for voting for the patriot act. You should know by now the Tea Party was coopted by neocon war mongers. The movement is dead. Many libertarians see Bachmann,Palin,Beck,Hannity,Savage,O'Reilly are nutcases who just hate muslims and war mongers.
You can add Allen West to that list too..
I'm a Libertarian, a Liberal and a Conservative. Nobody is all one label. I just applied for a Licence to Carry. I'm against violence, the death penalty, lying pols., and you.I like Glenn Beck and can't stand O'Reilly. I'm for a woman's right to get an abortion but fundamentally don't like it.I like Bachmann and detest M.Savage. I speak for myself. I hate any religious fundamentalist that thinks he has a right to tell me how I must behave the same as I detest the overreaching power seized by our Govt. over the last twenty years. I detest the system that allows government and quasi-government entities to prop up the TBTF but I think placing limits on what one can earn is horse shit. I'm an atheist but respect peoples religious beliefs.
So what the f... am I?? Huh??
Noun
nutcase (plural nutcases)
So what the f... am I?? Huh??
I'm not sure, but I'll bet you're bisexual with a major personality disorder.
misplaced post...
Noun
nutcase (plural nutcases)
I think you've about nailed it! :)
Amen. Ron Paul wins second CPAC straw poll in a row and the necon douchers continue to push Huckabee, Romney, Palin. Fucking R vs D puppetshow.
I don't think the movement is dead though. Lots of us are seeing through the false paradigm, and the bullshit MSM.
Redneck - you need to move on with your bitter life against conservatives.
Bernanke/Welfare/Unions 2012
Imagine that, an article that reflects badly on Sen. Schumer and you can't wait to try and derail it into the comfortable mud of your own backyard. Does your mother let you drive?
Well said CoC. The Chuck Shummer Action Acttack Posse has a whole stinking bag full of tricks.
No - Libs like you elected the muslim in the white hut who is destroying America.
re: Bachmann -- Augghh! The stupid, it burns!
Schumer! LMAO!
"Merger of Equals..."
BWAHHAHAHAHA!
Soon the Schumer WILL hit the fan.
Jump! You Fuckers!
Bernank/Schnitzel Bourse
Google political->English translator spit out:
I can make these Kraut's lives miserable if they don't attend my $5000/plate fundraisers.
front-fahren
sshhhhhkkkkkahlping
conshumerfuhkautomat
TRADING MACHT FREI
Fuck! Das ist wirklich zum Totlachennnnn!
Arbitrage macht frei...
Scheiss. That was much better than mine.
Alle Computer gehören zu uns
Steve Jobs phoned in:
"I'd like you to call it the iMarket!"
http://www.youtube.com/watch?v=gie_2GRMX9I
paul always was a conniving lawyer'd up greed-head. . .
scHUmer.......schuMER
Is this schumer humor? Am I seeing schumer humor? Zerohedge used to be so awesome. Now it's just filled with racists and silly comedians. :)
Still is awesome, but anyone can post. Take, for only two examples, our stupid-ass posts.
I've been trying to police myself in regards to this issue ever since CD posted his piece about the absence of the 'ZH veterans'. I'm trying to refrain from saying anything at all unless I have something intelligent and substantive to add to the discussion. Oh, Shit. Yes, I just realized it too. Starting NOW!
You don't have to read the comments.
just wait until the fed gov starts selling the national parks. its coming
most likely, as they are "so expensive to maintain" - and given the Chinese are already buying hefty chunks of "commercial real estate" and housing on the left coast, and Canadian farmlands. . .
http://shockedinvestor.blogspot.com/2010/03/chinese-are-snapping-agricul...
http://kerrorganization.com/wp/2010/10/13/china-buying-u-s-properties-as...
may as well put a price tag on "Old Faithful". . .
turd and sgs..please put the annoymous part of ur post back....i and i bet a few others don't have the required accts. to post....i understand ur reason. sorta but i think u lost a lot of this since the removal....sorry off topic but i can't post on the turd or sgs.....couldn't you just give us math problems instead??
I am still slightly amazed that this purchase continues to be relatively quiet news item. I am also very interested in seeing how the SEC will continue with any hope of meaningful oversight.
Or was this the plan all along? Nevermind, besides, it's not how you feel, it's how you look, and you look http://www.youtube.com/watch?v=hZl3gGV4H6c
While were at it, lets stamp "Made In America" on anything coming from China. It will raise animal spirits.
Ah, made in China! Have you heard of the newest app from Apple? It’s the suicide net. Instead of a financial safety net to save the economic victims of Fed/I MF financial manipulations, Apple, being an international company, has lauded attaching large nets to factory buildings to catch suicide victims around the world, this time in China.
While Obama and the socialists are using taxpayer money to save the least fortunate who fall through America’s economic cracks, Foxconn in the southern China city of Shenzhen recommends catching the victims of Apple’s international labor practices as they jump from atop the workers’ factory paradise with a big net.
Here’re the facts in Apple sent top exec to China after rash of suicides at supplier plant in today's San Jose Mercury News:
February 15, 2011 -- After nearly a dozen workers committed suicide at a contract manufacturing facility in China last year, Apple sent then-chief operating officer Tim Cook, now its acting CEO, to visit Foxconn International Holdings and press the company to improve working conditions there, Apple said in a report Monday.
Cook made the trip in June. Details of the visit were contained in the company's annual survey of contractors and suppliers.
That report, similar to reports issued by other big tech companies that do business around the world, has taken on increasing significance as international labor and environmental organizations continue to aggressively monitor Apple's business practices. One expert on overseas business said Cook's presence on the team that visited Foxconn was undoubtedly intended to send a significant message.
"It's very unusual for someone at that high level" said Anna Han, a Santa Clara University law professor who has advised U.S. companies on doing business in China. "It allows Foxconn to know that Apple is taking this very seriously."
Although labor abuses and poor working conditions are not uncommon in China, Han said U.S. companies can help improve those conditions by putting pressure on their contractors. "But you have to back it up, and say 'If you don't do this, we're not going to use you any more.' "
In its survey, Apple said Cook's visit to Foxconn in the southern China city of Shenzhen came after the company's leaders were "disturbed and deeply saddened" by the suicides, which involved nearly a dozen workers, some of whom jumped from buildings. The report said Cook was accompanied by "two leading experts" in suicide prevention who had been recruited by Apple.
"Apple then commissioned an independent review by a broader team of suicide prevention experts," the report said. The team surveyed more than 1,000 employees, reviewed the facts of each suicide and evaluated Foxconn's response.
Foxconn's response included hiring counselors for a 24-hour care center and even attaching large nets to the factory buildings, Apple said. But the Apple team also recommended the contractor take additional steps, such as increased training and monitoring of staff at the care center.
http://www.mercurynews.com/california/ci_17386584?nclick_check=1
No mention, of course, by Apple of increased benefits or salaries for its world plantation workers — the one thing that might prevent the suicides and that Apple, which accounts for about 20% of the Nasdaq and touted as “the most respected company in the world,” easily can afford.
THIS IS WHAT HAPPENS WHEN A SOVERIGN NATION BECAUSE OF IT'S FREEDOMS, GETS HIJACKED AND STARTS TO SELL OFF ALL OF IT'S ASSETS !
THIS IS WHAT HAPPENS WHEN AN ECONOMIC ILLITERATE FORGETS THE CAPSLOCK FUNCTION
I DIDNT JUNK YOU BY THE WAY. THAT WOULD BE TOO MUCH OF AN HONOR. I AM NOT WORTHY.
YOU KNOW THE JUDGE HAS LOTS OF JUNK.
PLUS 6.16 MILLION VIEWERS! ALL OF WHICH LOVE TO HEAR ME YELL!!!!
HELLO!
http://www.youtube.com/watch?v=07llPKLSRRU
don't waste bandwidth responding to the stupid fucker
The biggest problem is that finance is consolidating into some weird new order.
Combine the small pies into one big pie. But what happens when all of that is eaten?
"What's the news today, Bennie?!" Asked Timmah as he sipped his morning Jolt. Bernanke poured rum into his coffee.
"They raised the price of gold on us. A lot of good that'll do them. Maybe I should sell all my gold, tungsten is a fair substitute..." He had begun to think out loud.
"So what should I do?" Asked Timmah as he twittled his thumbs on the controller.
"Sell SLW, and buy Apple. We got to keep this thing humming."
"We are all out of SLW." Timmah pointed at the TV.
"Shit! Ok, well sell Netflix then...damn." He sipped his coffee with resentment. There was nothing more he hated than selling Netflix.
lol...thanks, i needed that.
Slavery?
No, It's better than that: Economic Slavery.
With ol' fashioned slavery, they had to provide shelter and food; with economic slavery, you're SOL.
Excellent doc covering IMF and world bank roles in it: http://www.lifeanddebt.org/
"Well Toby, there you go (unlocking the leg irons...), you're a free man!"
Toby: "No I ain't free, I's espensive!" -- With apologies to Firesign Theater.
Ummmm....is this tagged in sarcasm?
Conspiracy theory: New World Order
FYI, I am not sure how to read your comment.
Well that's fucking it, id'n it?
The New Weird Order.
Shoulda known all along.
Conshumerfuhkautomat... Priceless
So, we'll see a huge German flag hanging there instead?
After the follow-up merger with asia/pacific, look for the UN flag... the financial un
china to the left of us, germans to the right. . .
. . . stuck in the middle with U
Future decisions on implementation......I hate all politicians prticularly those that use the threat of regulatory blackmail. No wonder politicians dont garner much respect.
Why is it that a lowly rep like Giffords gets a bullet to her head but Chuck Schumer gets to continue to spew idiotic nonsense in public?
I am Chumbawamba.
better security?
Chuck doesn't get out much?
No one in New York is "allowed" to have a handgun??
Herr Bernanken Bourse
Classic +1!
von Bernankestein
We really don't need an exchange at all.
Just a website with a Super Platinum Pay Pal Account.
Put stock in basket and check out.
Unfortunately, the name "Wirtschaftswunder" is already taken.
I guess the jury is still out on the outcome of WWII
Yeh , even though we "won" , we lost.
We already lost the Pacific war. Toyota > GM.
Or maybe when the nips bought Rockefeller Center...
I think we can ultimately keep our dignity intact by insisting that the new combined company be named after the selling price.
Germans have a bad history of overpaying for American assets.
yes chuck, we are BK and have no leaders but lets focus on idolizing NY the capital of corruption
Germany: Give us our gold back.
US: No can do, but we can give you the NYPE. New York Paper Exchange that is.
GE is on a virtual buying spree of top shelf oil services assets in none other than the ground zero of the stong treasury demand. Now the Germans jettison Weber and are buying up the US financial exchange giving it a dominant position in the derivatives market????
Are the NYSE computer servers, staying in New York near 85 Broad?
gs moved out of there a year ago... but yes, still right near the NYSE
I wish Augusta National would sell, then open it up like Pebble. Nice !!
funny, but that will probably be the last asset to go. they'll have to get through 10,000,000 heavily armed golfers first.
Bobby Jones Akbar!!!
How 'bout "Ben and Chuck's Moneychanging Temple"?
Ich sage nur Groessenwahn! Way to go DB, you'll pay a boat load for NOTHING!
Chuck is probably holding out for something more along the lines of
"Der Karl von Schumer Neu York Schtock Tauschungsbörse"
And I believe the correct term for what exchanges like the DKvSNYST facilitate is "frontlaufen", not "frontfahren".
Booby Jones was too much of a gentleman for these troubled times.
I worry that once Germany owns 60% they could sell it to anyone they want, including China or the IMF if they wanted to. They could close down the Stock Exchange in NY and establish it in Germany. That would leave America without a Stock Exchange.
The money then earned on the exchange would be in Germany and would stay in Germany. How about Taxes on the Money made on the German exchange if the Money was not brought back into America. Is this another way for people to get Money out of American. The German Banks would benifit as the money would be put in German Banks.
Could German Money then become the Reserve Currency? I am not sure they have thought this one out.
I also heard that it could change Market Structure as far as HFT frontrunning and Trade rebates. Wonder how Goldman would like that?
But, once they own 60% we have no say anymore.
nothing to worry about. its just one more step towards world government. why else would this be allowed? makes no sense.
or if you dont like that, you can rest easy knowing the us has a stong military precence
I only hope the Germans front run Goldman Sachs. LOL!
I hear that Zimbabwe has Trillions!
Chuck Schumer epitomizes why the rest of America hates New Yaukers.
The corrupt Shoemor(an) is a fool...........how in the world does NY keeping voting this ass in>???
How did Connecticut keep voting in Joe Lieberman?
The same way Massachusetts keeps voting in Barney Frank, the same California keeps voting in Maxine Waters: ALL the Ignorati are in the same, gerrymandered districts!
This is perfect cover for the false flag cyber attack market crash. Blame it on the Germans when everybody is wiped out!
Gefickt!
seems plausible. can someone please explain to me what benefit this could have?
why would this even be discussed?
Where's the Roulauden!
Chuck Schumer is the Saudi Arabia of bullshit.
Question: If the German Borse buys the NYSE will securities continue to be USD denominated? In the future?
Most likely the SDR
Nah, they'll send over the excess over-run fiat fiat Euros that Ireland is counterfitting.
Handy shit for some no good.
Anyone expecting Schumer to have a clue, fails to recognize a man fully insane, consumed by his own avarice, just like the vast majority of the elitists in DC, (Dirtbag Central).
What if they change the name to "The Schu" ?? I bet we could settle on something...
DB should BTFDipshit
What if they change the name to "Frankenstein Exchange"?
Never the less, good they decided to go ahead with the merger. It is not only about cost savings, bigger pool of liquidity, harmonization but also it's about much bigger picture in the long term, that includes China.
Did you say "over"? Nothing is over until we decide it is! Was it over when the Germans bombed Pearl Harbor? Hell no!
So the Rothschild's are buying the exchange...even more epic theivo-matic action to follow!
So if American's realize that the monetarist induced Kleptrocracy (not capitalist) NYSE isn't American, I wonder if my fellow Americans will let their self-limiting behaviors stand in the way of closing them down?
Glass-Steagall or New Dark Age
1) Print (Obama's monetarist viewpoint)
2) Austerity (Ron Paul's monetarist viewpoint)
3) Glass Steagall (American Reality and NOT monetarist...actually a law that puts American Sovereignty in practice)
Only #3 is a solution.
Merger of Equals -prison slang for "newbie dropped the soap"
Ooh, just like Daimler-Chrysler...
NY is going to feel the drain of capital and jobs. The Mkt will shrink from just lack of interest. Maybe in twenty years or so stocks will be a good value again.. with real estate. Wait until a pissed off German comes in one day in Frankfurt and says pull the plug.
20 years stocks will be a good value. Hussein will have destroyed America long before then with The Ben Bernanke. I just hope the Germans screw Goldman Sachs.
SELBST KLAR!!! DEUTSCHE BORSE GLOBAL
CocaCola would never buy a local brand and then call it CocaCola Cool Kola
Japan should have bought the NYSE. Mandate all trades in Yen.
removed
Ever notice when you see Schumer on TV you can smell his cologne?
Zeit zu ziehen den Stecker!
oh so the NAME is all that matters...lol.
They won't change it from NYSE, I'm sure, just as the COMEX merger didn't sweep away all the underliers' names
Chain of logic...
Obama is Muslim
Wall Street is saturated with those of the Jewish faith
NYSE is sold to the German's
Obama smiles
More to come.........????
I saw the putrid carbuncle when it appeared on CNBC. Schumer must certainly be the epitome of putz. So this genius gives his deep analysis of the effect of this sellout of the NYSE to the Germans. And his concern is nothing more than the NAME of the new entity. It was just blatant Dumb Ass on Display from the supposed finance genius. The guy could not operate a two shovel landscape company.
Daimler and Chrysler - merger of equals.
It is an easy prediction what will happen next.
Old Spice with a splash of Canoe.
NYSE know the games up at least for the next 50 years
They're just hedging a total lack of retail volume which will never ever come back.
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The nyse is dead and a money loser with all the rebate trash flying around. Its a fire sale- its not going to make money for decades.
Schumer is being petty and retarded. Who cares what the exchange is called- its as good a brand like Pontiac or Hudson. Its over
Politicos like Schumer are famous for building massive public works with our money and then putting their own name on it, so I hardly find it inconsistent that Schumer would not want the people ponying up the money to be able to put their own choice of name on their purchase.
As for the merger of equals BS, we see this every time a German company buys (i.e. bails out) a company in the US. You think they would get tired of playing this game much less throwing their money away in the US.