The Sale of the Chicago Stock Exchange

I am appalled at the recent announcement of the sale of the Chicago Stock Exchange to a Chinese investor group. What has happened to our government? Is there no one in Washington with a functioning brain?

It is one of the oldest exchanges in the US and while it is not the biggest, it is still extremely important in that it handles about .5% of all US stock transactions. So, on a 200,000,000 share day, this amounts to about 1,000,000 shares.

What about national security? If we ever go into a hostile situation with China, would it not be a major mistake to give our enemy the ability to wreak havoc on the US financial system? Moreover, the operator of a stock exchange probably would have the opportunity to
steal personal identities and other vital information if it was so inclined.

There was a previous sale of an exchange to a German company—The International Securities Exchange in 2007. But at least we are not suffering from totally unfair trade practices as we are with China. In addition, China is famous for stealing technology. What will happen once it gains entry to a stock exchange like the CSE?
This is a no brainer. Quash it fast!

Copyright © 2016 Howard Z. Gopman. All rights reserved.

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