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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: Andrew G. who wrote (71735)2/26/2001 11:52:23 AM
From: Don Lloyd  Read Replies (1) of 436258
 
Andrew -

Not a plan but my 'heretical' idea to do away with the stock exchanges altogether (and the FED too).
I believe that there should be no public float for any stock. i.e., I believe we should do away with stock exchanges. If people want to invest, they can do so through bonds or privately held stock. Remember that if a company is corrupt it will eventually be sued by it's shareholders regardless of whether it is required to make public disclosures of it's earnings. Annual and quarterly meetings are still held by privately owned companies. If you are a shareholder, you have rights regardless of whether a company's stock trades on an exchange or not....

Before you eliminate stock exchanges, perhaps you should step back and make sure you understand what purpose(s) they serve, and why they came into being in the first place. The plans of even the best socialist planners almost always have unintended consequences that far outweigh the intended results.

Regards, Don
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