NYSE’s Closing to ‘Shake Image’ for Exchange, Levitt Says
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The New York Stock Exchange’s reputation will suffer because it failed to keep operating during Hurricane Sandy, said Arthur Levitt, former chairman of the U.S. Securities and Exchange Commission.
“People look to the New York Stock Exchange as being the symbol of American capitalism, and to see the exchange go down for two days without an adequate backup plan is very, very unfortunate,” Levitt said in a Bloomberg Radio interview today. “To see the New York Stock Exchange crippled is a body blow that will really shake the image of that institution for a long time to come.”