Felix Salmon Nails The Problem With Exchanges


No intro. Just read!

Wall Street’s Dead End


THE stock market has been big news in recent days. Last week’s report that Deutsche Börse, a giant German exchange, intends to buy the New York Stock Exchange, creating a company worth some $24 billion, arrived shortly after the Dow broke the 12,000-point barrier for the first time since before the financial crisis. 

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