SEC Must Look Beyond NYSE, Nasdaq for Cause of Market Crash: Today's Outrage
Adds SEC statement on meeting with exchange leaders about Thursday's stock market crash.
NEW YORK (TheStreet) -- Securities and Exchange Commission Chairman Mary Schapiro is looking in all the wrong places for answers to last week's historic market plunge.
Four days after the collapse, Schapiro met today with NYSE Euronext (NYX) CEO Duncan Niederauer, Nasdaq OMX (NDAQ) CEO Robert Greifeld and leaders of other exchanges. What a waste of time, judging by the SEC's post-meeting press release, which said only that "as a first step, the parties agreed on a structural framework, to be refined over the next day, for strengthening circuit breakers and handling erroneous trades."
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