AccessMyLibrary provides FREE access to over 30 million articles from top publications available through your library.
Create a link to this page
Copy and paste this link tag into your Web page or blog:
James Glassman, "Reform Requires That Exchanges Completely Separate Regulation from Business, and Adopt Public-Ownership Model," Testimony before the House of Representatives Subcommittee on Capital Markets, Insurance, and Government Sponsored Enterprises, October 16, 2003 (thomas.loc.gov)
In the early fall of 2003, the New York Stock Exchange became embroiled in controversy after newspapers reported that outgoing chairman Richard Grasso would receive a payment of nearly $190 million, despite the exchange's lackluster performance. In Congressional testimony, AEI fellow James Glassman, who writes a syndicated column on personal investing, expresses disgust with the NYSE's actions and suggests measures to "help reverse a course that will inevitably lead to more scandals and a further erosion of confidence." Glassman makes two major recommendations.
He proposes separating the regulation and business functions of the stock exchange. ...
Source: HighBeam Research, Stock Exchange fix.(Economics And Regulation)(Brief Article)