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Chuck Schumer On The "Biggest Issue" In The NYSE Takeover

Tyler Durden's picture




 

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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Tue, 02/15/2011 - 13:47 | 963968 Alcoholic Nativ...
Alcoholic Native American's picture

lol who can afford a NYSE in this economy!

Tue, 02/15/2011 - 14:05 | 964055 firstdivision
firstdivision's picture

The Chinese ;)

Tue, 02/15/2011 - 14:07 | 964065 chumbawamba
chumbawamba's picture

...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.

Tue, 02/15/2011 - 14:58 | 964303 Judge Judy Scheinlok
Judge Judy Scheinlok's picture

BEHAVE YOURSELF YOUNG MAN!

Tue, 02/15/2011 - 16:09 | 964592 Kaiser Sousa
Kaiser Sousa's picture

"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.......

Tue, 02/15/2011 - 16:38 | 964746 chumbawamba
chumbawamba's picture

Um, excuse me, but upon what basis have you determined that I am racist?  Racist against whom exactly?

I am Chumbawamba.

Tue, 02/15/2011 - 19:00 | 965186 AbandonShip
AbandonShip's picture

You used the N-word and it's pretty derogatory to African Americans.  Can't do that, we're not in the '50s anymore.

Tue, 02/15/2011 - 20:19 | 965355 Bringin It
Bringin It's picture

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

The purpose of Newspeak was not only to provide a medium of expression for the world-view and mental habits proper to the devotees of Ingsoc, but to make all other modes of thought impossible. It was intended that when Newspeak had been adopted once and for all and Oldspeak forgotten, a heretical thought—that is, a thought diverging from the principles of Ingsoc—should be literally unthinkable, at least so far as thought is dependent on words. Its vocabulary was so constructed as to give exact and often very subtle expression to every meaning that a Party member could properly wish to express, while excluding all other meanings and also the possibility of arriving at them by indirect methods. This was done partly by the invention of new words, but chiefly by eliminating undesirable words… The vocabulary consisted of words which had been deliberately constructed for political purposes: words, that is to say, which not only had in every case a political implication, but were intended to impose a desirable mental attitude upon the person using them.  - George Orwell, 1984

 

http://www.zerohedge.com/article/grand-theft-usa-%E2%80%93-prices-go-par...

Tue, 02/15/2011 - 20:24 | 965366 Fred123
Fred123's picture

Me thinks there is a nigger in the woodpile somewhere in this deal.

Wed, 02/16/2011 - 00:15 | 965849 Milestones
Milestones's picture

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

Wed, 02/16/2011 - 04:29 | 966041 StychoKiller
StychoKiller's picture

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!"

Tue, 02/15/2011 - 13:51 | 963981 nhsadika
nhsadika's picture

IS Schumer being paid as a brand-consultant in addition to his regular gig as political diversion?

 

Tue, 02/15/2011 - 14:28 | 964146 Red Neck Repugnicant
Red Neck Repugnicant's picture

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

Tue, 02/15/2011 - 15:05 | 964340 Weimar Ben Bernanke
Weimar Ben Bernanke's picture

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.

Tue, 02/15/2011 - 15:18 | 964398 UGrev
UGrev's picture

You can add Allen West to that list too..  

Tue, 02/15/2011 - 16:40 | 964760 lincolnsteffens
lincolnsteffens's picture

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?? 

Tue, 02/15/2011 - 16:45 | 964781 ZerOhead
ZerOhead's picture

Noun

nutcase (plural nutcases)

  1. (humorous) An eccentric or odd person.
  2. (pejorative, slang) Someone who is insane.
Tue, 02/15/2011 - 17:24 | 964932 Red Neck Repugnicant
Red Neck Repugnicant's picture

So what the f... am I?? Huh?? 

 

I'm not sure, but I'll bet you're bisexual with a major personality disorder. 

Tue, 02/15/2011 - 21:17 | 965223 ZerOhead
ZerOhead's picture

misplaced post...

Tue, 02/15/2011 - 16:43 | 964770 ZerOhead
ZerOhead's picture

Noun

nutcase (plural nutcases)

  1. (humorous) An eccentric or odd person.
  2. (pejorative, slang) Someone who is insane.

I think you've about nailed it! :)

Tue, 02/15/2011 - 17:02 | 964840 Hugh G Rection
Hugh G Rection's picture

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.

Tue, 02/15/2011 - 15:26 | 964433 homersimpson
homersimpson's picture

Redneck - you need to move on with your bitter life against conservatives.

Bernanke/Welfare/Unions 2012

Tue, 02/15/2011 - 16:43 | 964772 Crime of the Century
Crime of the Century's picture

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?

Tue, 02/15/2011 - 20:25 | 965373 Bringin It
Bringin It's picture

Well said CoC. The Chuck Shummer Action Acttack Posse has a whole stinking bag full of tricks.

Tue, 02/15/2011 - 20:43 | 965415 Freddie
Freddie's picture

No - Libs like you elected the muslim in the white hut who is destroying America.

Wed, 02/16/2011 - 04:30 | 966045 StychoKiller
StychoKiller's picture

re:  Bachmann -- Augghh!  The stupid, it burns!

Tue, 02/15/2011 - 13:51 | 963982 buzzsaw99
buzzsaw99's picture

Schumer! LMAO!

Tue, 02/15/2011 - 14:14 | 964084 TomJoad
TomJoad's picture

"Merger of Equals..."

BWAHHAHAHAHA!

Soon the Schumer WILL hit the fan.

 

Jump! You Fuckers!

Tue, 02/15/2011 - 13:54 | 963993 Mae Kadoodie
Mae Kadoodie's picture

Bernank/Schnitzel Bourse

Tue, 02/15/2011 - 13:55 | 964005 Joe Davola
Joe Davola's picture

Google political->English translator spit out:

 

I can make these Kraut's lives miserable if they don't attend my $5000/plate fundraisers.

Tue, 02/15/2011 - 13:58 | 964012 SpeakerFTD
SpeakerFTD's picture

front-fahren

sshhhhhkkkkkahlping

conshumerfuhkautomat

TRADING MACHT FREI

Tue, 02/15/2011 - 14:19 | 964112 TradingJoe
TradingJoe's picture

Fuck! Das ist wirklich zum Totlachennnnn!

Tue, 02/15/2011 - 14:22 | 964122 Mad Max
Mad Max's picture

Arbitrage macht frei...

Tue, 02/15/2011 - 14:24 | 964130 SpeakerFTD
SpeakerFTD's picture

Scheiss.  That was much better than mine. 

Tue, 02/15/2011 - 14:54 | 964271 iDealMeat
iDealMeat's picture

 

Alle Computer gehören zu uns

 

Tue, 02/15/2011 - 13:57 | 964017 TideFighter
TideFighter's picture

Steve Jobs phoned in:

"I'd like you to call it the iMarket!"

Tue, 02/15/2011 - 14:24 | 964133 MayIMommaDogFac...
MayIMommaDogFace2theBananaPatch's picture

Will you settle for a compromise of I-Me-Mine-Market?  It seems to capture the zeitgeist more completely.

Tue, 02/15/2011 - 17:46 | 965010 Cathartes Aura
Cathartes Aura's picture

All through the day
I me mine, I me mine, I me mine
All through the night
I me mine, I me mine, I me mine
Now they're frightened of leaving it
Everyone's weaving it
Coming on strong all the time
All through the day, I me mine

http://www.youtube.com/watch?v=gie_2GRMX9I

paul always was a conniving lawyer'd up greed-head. . .

Tue, 02/15/2011 - 13:58 | 964020 Seasmoke
Seasmoke's picture

scHUmer.......schuMER

Tue, 02/15/2011 - 14:13 | 964086 Hephasteus
Hephasteus's picture

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. :)

Tue, 02/15/2011 - 15:06 | 964348 wretch
wretch's picture

Still is awesome, but anyone can post.  Take, for only two examples, our stupid-ass posts.

Tue, 02/15/2011 - 15:26 | 964432 downrodeo
downrodeo's picture

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!  

Tue, 02/15/2011 - 18:23 | 965106 Absinthe Minded
Absinthe Minded's picture

You don't have to read the comments.

Tue, 02/15/2011 - 13:59 | 964023 dick cheneys ghost
dick cheneys ghost's picture

just wait until the fed gov starts selling the national parks. its coming

Tue, 02/15/2011 - 17:59 | 965046 Cathartes Aura
Cathartes Aura's picture

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". . .

Tue, 02/15/2011 - 13:59 | 964025 smlbizman
smlbizman's picture

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??

Tue, 02/15/2011 - 14:04 | 964026 crosey
crosey's picture

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

Tue, 02/15/2011 - 14:00 | 964029 dwdollar
dwdollar's picture

While were at it, lets stamp "Made In America" on anything coming from China.  It will raise animal spirits.

Tue, 02/15/2011 - 14:13 | 964083 JR
JR's picture

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.

Tue, 02/15/2011 - 14:01 | 964032 Judge Judy Scheinlok
Judge Judy Scheinlok's picture

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 !

 

Tue, 02/15/2011 - 14:16 | 964102 topcallingtroll
topcallingtroll's picture

THIS IS WHAT HAPPENS WHEN AN ECONOMIC ILLITERATE FORGETS THE CAPSLOCK FUNCTION

Tue, 02/15/2011 - 14:19 | 964110 topcallingtroll
topcallingtroll's picture

I DIDNT JUNK YOU BY THE WAY. THAT WOULD BE TOO MUCH OF AN HONOR. I AM NOT WORTHY.

Tue, 02/15/2011 - 14:37 | 964191 Judge Judy Scheinlok
Judge Judy Scheinlok's picture

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

Tue, 02/15/2011 - 14:55 | 964276 Wynn
Wynn's picture

don't waste bandwidth responding to the stupid fucker

Tue, 02/15/2011 - 14:02 | 964033 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

The biggest problem is that finance is consolidating into some weird new order.

Tue, 02/15/2011 - 14:05 | 964051 crosey
crosey's picture

Combine the small pies into one big pie.  But what happens when all of that is eaten?

Tue, 02/15/2011 - 14:10 | 964075 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

"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.

Tue, 02/15/2011 - 14:21 | 964119 crosey
crosey's picture

lol...thanks, i needed that.

Tue, 02/15/2011 - 14:39 | 964203 KickIce
KickIce's picture

Slavery?

Tue, 02/15/2011 - 14:42 | 964212 Ganja Jane
Ganja Jane's picture

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/

Wed, 02/16/2011 - 04:37 | 966048 StychoKiller
StychoKiller's picture

"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.

Tue, 02/15/2011 - 14:44 | 964206 Ganja Jane
Ganja Jane's picture

Ummmm....is this tagged in sarcasm?

 

Conspiracy theory: New World Order

 

FYI, I am not sure how to read your comment.

Tue, 02/15/2011 - 15:24 | 964419 knukles
knukles's picture

Well that's fucking it, id'n it?

The New Weird Order. 

Shoulda known all along.
Conshumerfuhkautomat... Priceless

Tue, 02/15/2011 - 14:03 | 964041 nonclaim
nonclaim's picture

So, we'll see a huge German flag hanging there instead?

Tue, 02/15/2011 - 14:19 | 964111 tickhound
tickhound's picture

After the follow-up merger with asia/pacific, look for the UN flag... the financial un

Tue, 02/15/2011 - 18:10 | 965076 Cathartes Aura
Cathartes Aura's picture

china to the left of us, germans to the right. . .

. . . stuck in the middle with U

Tue, 02/15/2011 - 14:04 | 964046 topcallingtroll
topcallingtroll's picture

Future decisions on implementation......I hate all politicians prticularly those that use the threat of regulatory blackmail. No wonder politicians dont garner much respect.

Tue, 02/15/2011 - 14:05 | 964048 chumbawamba
chumbawamba's picture

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.

Tue, 02/15/2011 - 14:06 | 964057 crosey
crosey's picture

better security?

Tue, 02/15/2011 - 20:33 | 965392 Bringin It
Bringin It's picture

Chuck doesn't get out much?

Wed, 02/16/2011 - 04:38 | 966052 StychoKiller
StychoKiller's picture

No one in New York is "allowed" to have a handgun??

Tue, 02/15/2011 - 14:07 | 964058 Mae Kadoodie
Mae Kadoodie's picture

 Herr Bernanken Bourse

Tue, 02/15/2011 - 15:54 | 964538 QQQBall
QQQBall's picture

Classic +1!

Tue, 02/15/2011 - 16:51 | 964808 Crime of the Century
Crime of the Century's picture

von Bernankestein

Tue, 02/15/2011 - 14:06 | 964059 TideFighter
TideFighter's picture

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.

Tue, 02/15/2011 - 14:09 | 964072 Greater Fool
Greater Fool's picture

Unfortunately, the name "Wirtschaftswunder" is already taken.

Tue, 02/15/2011 - 14:14 | 964092 clymer
clymer's picture

I guess the jury is still out on the outcome of WWII

Tue, 02/15/2011 - 14:23 | 964126 High Plains Drifter
High Plains Drifter's picture

Yeh , even though we "won" , we lost.

Tue, 02/15/2011 - 15:09 | 964359 Head for the Hills
Head for the Hills's picture

We already lost the Pacific war.   Toyota > GM.

Or maybe when the nips bought Rockefeller Center...

Tue, 02/15/2011 - 14:19 | 964094 Mercury
Mercury's picture

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.

Tue, 02/15/2011 - 14:17 | 964104 NOTW777
NOTW777's picture

yes chuck, we are BK and have no leaders but lets focus on idolizing NY the capital of corruption

Tue, 02/15/2011 - 14:18 | 964108 Ecoman11
Ecoman11's picture

Germany: Give us our gold back.

US: No can do, but we can give you the NYPE. New York Paper Exchange that is.

Tue, 02/15/2011 - 14:20 | 964113 SDRII
SDRII's picture

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????

Tue, 02/15/2011 - 14:21 | 964116 High Plains Drifter
High Plains Drifter's picture

Are the NYSE computer servers,  staying in New York near 85 Broad?

Tue, 02/15/2011 - 14:38 | 964197 Alienated Serf
Alienated Serf's picture

gs moved out of there a year ago... but yes, still right near the NYSE

Tue, 02/15/2011 - 14:21 | 964118 Sizzurp
Sizzurp's picture

I wish Augusta National would sell, then open it up like Pebble.  Nice !!

Tue, 02/15/2011 - 14:24 | 964135 crosey
crosey's picture

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!!!

Tue, 02/15/2011 - 14:24 | 964128 lsbumblebee
lsbumblebee's picture

How 'bout "Ben and Chuck's Moneychanging Temple"?

Tue, 02/15/2011 - 14:25 | 964140 TradingJoe
TradingJoe's picture

Ich sage nur Groessenwahn! Way to go DB, you'll pay a boat load for NOTHING!

Tue, 02/15/2011 - 14:26 | 964145 ewmayer
ewmayer's picture

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".

Tue, 02/15/2011 - 14:26 | 964148 Sizzurp
Sizzurp's picture

Booby Jones was too much of a gentleman for these troubled times.

Tue, 02/15/2011 - 14:30 | 964161 Waterfallsparkles
Waterfallsparkles's picture

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.

Tue, 02/15/2011 - 17:39 | 964981 Confused
Confused's picture

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 

Tue, 02/15/2011 - 20:54 | 965453 Freddie
Freddie's picture

I only hope the Germans front run Goldman Sachs.  LOL!

Wed, 02/16/2011 - 04:42 | 966054 StychoKiller
StychoKiller's picture

I worry that once Germany owns 60% they could sell it to anyone they want, including China or the IMF if they wanted to.

 

I hear that Zimbabwe has Trillions!

Tue, 02/15/2011 - 14:31 | 964165 DonnieD
DonnieD's picture

Chuck Schumer epitomizes why the rest of America hates New Yaukers.

Tue, 02/15/2011 - 14:37 | 964193 Hondo
Hondo's picture

The corrupt Shoemor(an) is a fool...........how in the world does NY keeping voting this ass in>???

Tue, 02/15/2011 - 20:36 | 965396 Bringin It
Bringin It's picture

How did Connecticut keep voting in Joe Lieberman?

Wed, 02/16/2011 - 04:43 | 966055 StychoKiller
StychoKiller's picture

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!

Tue, 02/15/2011 - 14:38 | 964196 moldygoat
moldygoat's picture

This is perfect cover for the false flag cyber attack market crash. Blame it on the Germans when everybody is wiped out!

Gefickt!

Tue, 02/15/2011 - 17:42 | 964994 Confused
Confused's picture

seems plausible. can someone please explain to me what benefit this could have?

why would this even be discussed? 

Tue, 02/15/2011 - 14:43 | 964230 Lazane
Lazane's picture

Where's the Roulauden!

Tue, 02/15/2011 - 14:47 | 964245 gwar5
gwar5's picture

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?

Tue, 02/15/2011 - 14:53 | 964269 metastar
metastar's picture

Most likely the SDR

Tue, 02/15/2011 - 15:29 | 964446 knukles
knukles's picture

Nah, they'll send over the excess over-run fiat fiat Euros that Ireland is counterfitting.  
Handy shit for some no good. 

Tue, 02/15/2011 - 14:55 | 964274 Hugh_Jorgan
Hugh_Jorgan's picture

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).

Tue, 02/15/2011 - 14:56 | 964290 wherewasi
wherewasi's picture

 

What if they change the name to "The Schu" ??  I bet we could settle on something...

 

DB should BTFDipshit 

Tue, 02/15/2011 - 16:13 | 964390 RemiG2010
RemiG2010's picture

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.

Tue, 02/15/2011 - 15:12 | 964373 Head for the Hills
Head for the Hills's picture

Did you say "over"? Nothing is over until we decide it is! Was it over when the Germans bombed Pearl Harbor? Hell no!

Tue, 02/15/2011 - 15:21 | 964411 Cistercian
Cistercian's picture

 So the Rothschild's are buying the exchange...even more epic theivo-matic action to follow!

Tue, 02/15/2011 - 15:32 | 964459 jmc8888
jmc8888's picture

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.

Tue, 02/15/2011 - 15:45 | 964491 ThirdCoastSurfer
ThirdCoastSurfer's picture

Merger of Equals -prison slang for "newbie dropped the soap"

Wed, 02/16/2011 - 04:46 | 966056 StychoKiller
StychoKiller's picture

Ooh, just like Daimler-Chrysler...

Tue, 02/15/2011 - 15:51 | 964516 virgilcaine
virgilcaine's picture

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.

Tue, 02/15/2011 - 20:58 | 965467 Freddie
Freddie's picture

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.

Tue, 02/15/2011 - 15:51 | 964526 youngandhealthy
youngandhealthy's picture

SELBST KLAR!!!   DEUTSCHE BORSE GLOBAL

CocaCola would never buy a local brand and then call it CocaCola Cool Kola

Tue, 02/15/2011 - 15:53 | 964537 Pez
Pez's picture

Japan should have bought the NYSE. Mandate all trades in Yen.

Tue, 02/15/2011 - 15:56 | 964542 QQQBall
QQQBall's picture

removed

Tue, 02/15/2011 - 16:03 | 964574 Kilgore Trout
Kilgore Trout's picture

Ever notice when you see Schumer on TV you can  smell his cologne?

Tue, 02/15/2011 - 16:18 | 964634 virgilcaine
virgilcaine's picture

Zeit zu ziehen den Stecker!

Tue, 02/15/2011 - 16:28 | 964681 trav7777
trav7777's picture

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

Tue, 02/15/2011 - 17:14 | 964894 ugmug
ugmug's picture

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.........????

Tue, 02/15/2011 - 17:47 | 965013 Augustus
Augustus's picture

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.

Tue, 02/15/2011 - 19:45 | 965285 Sisyphus
Sisyphus's picture

Daimler and Chrysler - merger of equals.

It is an easy prediction what will happen next.

Tue, 02/15/2011 - 20:00 | 965311 gall batter
gall batter's picture

Old Spice with a splash of Canoe.

Tue, 02/15/2011 - 20:06 | 965328 MallaKite
MallaKite's picture

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.

 

Tue, 02/15/2011 - 20:51 | 965437 co2010
co2010's picture

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Tue, 02/15/2011 - 22:28 | 965655 cocoablini
cocoablini's picture

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

Wed, 02/16/2011 - 04:41 | 966050 The Alarmist
The Alarmist's picture

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. 

 

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