NASDAQ CEO Bob Greifeld is finally speaking out about yesterday’s unprecedented 3-hour trading shutdown.
He appeared on CNBC’s Squawk Box this morning.
Among other things, he addressed questions about the NASDAQ’s opaque communications.
“I disagree that we didn’t communicate properly,” said Greifeld.
He added that he and his management team were in constant communication with industry players.
But this did no good for the average retail investor who was waiting for some updates on what was going wrong.
And Jim Cramer wasn’t having it.
During the CNBC appearance, Cramer tweeted: “How can Greifeld say they halted things to help the retail investor but then didn’t communicate to the press. WRONG WRONG WRONG!”
“I am so darned steamed about this,” continued Cramer. “I don’t like to be rolled. I have been in this biz much longer than [NASDAQ’s] Greifeld. Just furious”
“You people who follow me; you are right to be outraged,” he added. “It is commonsense to be upset by this. You deserve better…”
How can Greifeld say they halted things to help the retail investor but then didn’t communicate to the press. WRONG WRONG WRONG!
— Jim Cramer (@jimcramer) August 23, 2013