- Patriot Act author on James Clapper: Fire, prosecute him
- Russia P.M. Medvedev: No amnesty for political prisoners
- Michigan GOP Senate hopeful reminds government is the ‘servant’
- Christmas, by Congress: Members mull a 15-cent tax on trees
- U.S. unemployment falls to five-year low of 7 percent; 203K jobs added
- World mourns Nelson Mandela and celebrates his life; burial set for Dec. 15
- Bill O’Reilly reminds: Nelson Mandela ‘was a communist’
- John Boehner says GOP should support gay candidates: ‘I do’
- Grass-Whopper: Pan-fried cricket burgers go over big in New York City
- CDC sees measles spike and ‘failure to vaccinate’
Sandy takes swipe at nation’s wallet
As the leading edge of the storm advanced on the mid-Atlantic states, the usually resilient New York Stock Exchange and Nasdaq shut down, and Goldman Sachs and other Wall Street banks activated emergency plans.
“My bias is always to keep the markets open, but this was a pretty easy decision,” Duncan Niederauer, NYSE Euronext CEO, told CNBC on Monday. “What I underestimated was how much people would have to staff up if we were operating electronically.”
Furthermore, Mr. Niederauer said it’s “hard to imagine” that the NYSE would open back up Tuesday.
The NYSE closed for four days in September 2001, but if the NYSE remains closed Tuesday, which at this point is likely, it would be the first two-day shutdown for the exchange due to weather since 1888.
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About the Author
Tim Devaney is a national reporter who covers business and international trade for The Washington Times. Previously, he worked for the Detroit News, Grand Rapids Press, Portland Press Herald and Bangor Daily News. Tim can be reached at email@example.com.
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