5.17.2006

 

PWTU In History: The Origin of the NYSE

Part One of PWTU's Ongoing Series

The New York Stock Exchange: where is it from? Where is it going? And how rich do you have to be in order to consider it a serious economic indicator? We at PWTU have always prided ourselves on our relentless coverage of such complex economic issues, especially when inherent Douchbaggery is involved. And nothing brings out the douchebags quite like the New York Stock Exchange (NYSE: NYSE).

Don't get us wrong: for every Ken Lay and Gordon Gekko out there trying to screw over us workin'-Joes (and Josephines) we know there just have to be good-natured, up-by-the-bootstraps figures who use the market for the good of all. These unsung heroes of the marketplace buy stock in companies that provide livable wages for their employees, no matter what those companies post in their most recent quarterly earnings reports. Were it not for this fact, American companies would surely be outsourcing jobs to countries whose standards of living don't quite match the American ideal... and we all know that ain't so.

Seriously, though, the NYSE's origin can be traced back 214 years today to a group of 24 stock-brokers who decided they'd create a system that would get a minority of them rich by exploiting the majority of all. How much has changed since those backward times...

Happy Birthday NYSE! May God have mercy on your soul...

(Source)

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