Richard Grasso Quotations

would have been a valuable contributor to our board.

We have rebuilt the infrastructure to the point where I'm confident that 85 million Americans can be back in the greatest market in the world,

There are those who will say that the markets could have opened on some abbreviated business before Monday,

We're constantly making changes to our systems to make things better for our customers, ... This is not a problem with the software vendor, this is a problem with the NYSE and the buck stops here.

Let us not forget the great tragedy that has befallen this nation, ... restoring the public confidence that this marketplace will be up and functioning.

If the test on Saturday were to prove to be problematic, long before Monday at 9:30 a.m. we will be very candid with member firms and the American public,

Whatever the competitive arguments may be for a more timely introduction of extending the trading day, the overriding interest should be the protection of the public user of the marketplace,

I think it is way beyond that at this juncture.

I think at the surface comparative level, they appear to be wildly different, ... But there are some very comparative similarities to the makeup of each. They are extraordinary intelligent and very creative in how they approach problems.

Our systems are all go, ... At 9:30 Monday morning trading will resume on both markets, and the message will be given to criminals who foisted this on America that they lost.

Our basic position is one of zero tolerance,

Our commitment is to assure fairness and honesty in the market, ... The public's participation in the market is driven by that fairness and honesty, and we owe it to them to fulfill that.

I think this is based on the consistent progress of the economy. I hope good American companies will list on the Chinese Stock Exchange.

You can attack an infrastructure, but you can't attack an ideal,

We were unanimous this morning in our view that nothing should happen -- at least from the Big Board -- until after both the millennium change and 'decimalization' have been accomplished,

We are saddened to lose Martha Stewart, who has built a brand and a company admired around the world, ... Our board will miss Ms. Stewart's counsel and insight, and expressed its deep gratitude for her service.

There are a lot of key questions to answer before we can complete this transaction. It's quite right to point out that companies that trade actively during the conventional session may trade with much less liquidity in off hours.

When Sandy and I discussed his potential service, he reminded me of his full agenda as CEO of Citigroup and the demands upon his time,

to make them more competitive in the global arena.

Through technology, we have exported the floor of the NYSE to the consumer,

we will vigorously defend our right to keep it.

When I ran the stock exchange, it was the most successful it's been in its 200-plus-year history. And I was rewarded for success; I would not have been rewarded if we failed.

I shared with the board of directors ... that, with the deepest reluctance and if the board so desired, I would submit my resignation,

It was the (New Jersey) governor's suggestion to open a dialogue about a package of economic incentives, and they made a very compelling case,

A few short years ago, that would have been a good year,

A day doesn't go by when the market isn't on the most skittish and volatile path that I've seen in my 35 years at the Big Board. What's driving that is the simple insecurity, or if you will uncertainty of outcome.

The more important is question of the human issues, ... Today we're getting very positive reports of people being recovered alive. No one wants to interrupt that process. It's more important for the city ... that they have all the time necessary without any disruptions to get into that pile and get people out.

Companies, not just California companies, but all publicly held companies who either do business in California or have shareholders in California will potentially be harmed by this proposition.

A separate entity would remove the cop on the beat, ... is not viewed as a profit drag, but ? as an investment in our brand and in building public confidence.

A large percentage of orders are entered in the hours after our close through about 10 p.m. EST,

Think of the metrics; eleven Fed actions in the last year, a stimulus package that will come from our leadership in Washington, ... The economy was sputtering prior to the 11th of September. We're now seeing clear leadership on both the fiscal and monetary standpoint. We're getting some good news from corporate earnings. There is a lot to be optimistic about.

They paid me what they believed to be fair and reasonable.

This positions us to be competitive on a global scale and brings investors the benefit of greater liquidity. I think it's very appropriate that we analyze the performance of the market in the pre and post decimalization period, with special attention being given to making certain that public investors are treated as well in decimals as they have been in fractions for the past 208 years.

This is a violation of the trust that all members have in each other here,

It will be a market that will have very little to do with Eastern Standard Time,

It's fitting and appropriate that the New York Stock Exchange remains silent during the memorial services,

It should strengthen investors' confidence. This is done through transparency, high quality financial reports, and a standardized economic market. This is not just for China, but also for the world market as a whole.

It will not be appropriate in my view, or that of the commission, for me to take a seat on the New York Stock Exchange board,

informed of the comments and the intentions of the New York State attorney general concerning his nomination.

In the course of the next few days we will do all the required stress testing that's required of our industry, ... To make sure that by Monday morning the American people are served by the finest capital market the world has known.

Clearly access to the facility will be tightened,

I don't think there's any reservation, that Monday at 9:30 (a.m. ET), the opening bell as we've come to know it will ring here and trading will commence,

For the past 36 years, I have had the honor and privilege of working for what I believe is the greatest equities market in the world, the New York Stock Exchange.... I believe this course is in the best interests of both the exchange and myself.

What the American people don't understand is how Merrill Lynch or AIG or Lehman Brothers can reward people, and the entity fails. Not only do the shareholders lose, but the entities lose.

This is a basic requirement the meaning of globalization is that we should admit that the economy of each country is dependent on the economy of all the others.

The globalization of the capital market is actually part of economic globalization. This will create a change in the entire world economy, not just restricted to some fields in some countries.

Let's take a timeout. Let's allow investors the opportunity in a period of market calm to re-examine what's happened and to deploy new strategies into the marketplace.

Clearly there are always unintended consequences of any legislative or regulatory act that's taken in the heat of battle.

Our systems are all go. At 9:30 Monday morning trading will resume on both markets, and the message will be given to criminals who foisted this on America that they lost.