U.S. Exchanges: The Best Ad For Free Markets

"The booming Big Board" (Finance, Aug. 4) is truly a testimonial to Dick Grasso and his colleagues at the New York Stock Exchange. It also shows that Congress was right in 1975 when it decided how to ensure that U.S. securities markets would maintain their world leadership. That was to subject the markets to the same kind of free-market competition that is faced by the companies that are listed on them.

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