Thursday, November 8, 2012

Reading response: "After Hurricane Sandy, Stock Exchanges Prepare to Open"

   Susanne Craig, author of "After Hurricane Sandy, Stock Exchanges Prepare to Open", wrote this article to tell readers to know that after Hurricane Sandy, stock exchanges on Wall Street are preparing to open as soon as possible, but consultancy firms are saying that they should not open so that they can check if any bugs are in the system. It is mainly shows about the argument about whether or not stock exchanges should open soon. Even though they are preparing to open, there are many consequences to opening soon after Sandy, such as complications, federal authorities, technical problems, and the matter that there are still floods in progress.
    I think that stock exchanges, such as the New York Stock Exchange should stay closed because of the possibilities that might happen to the exchanges. For example, Matt Samelson, principal of the Woodbine Associates (a firm) says, "It'd better to have everything in place before flicking on the switch and having a misstep." This makes me feel that people are trying to be reasonable about consequences and the possible dangers, and it shows that there are people that are cautious about the stock markets. Another example is that Larry Leibowitz, chief operating officer of the NYSE Euronext, said, "Right now there are a lot of connectivity problems." This shows that there are problems when they open too soon. It makes me feel assured that stock markets shouldn't open because of problems that might happen when you rush too soon.
   Another example in the article is that if they open before they are really prepared, they might have complications that could weaken the financial system. This shows that if they find a problem too big, their system might fall apart, and the stock market might be wrecked. The author wants the reader to know about the possible dangers if they open as soon as possible.
   After reading this article, I have come to understand that if stock exchanges open too early, they might have problems with the system, and if they open too late, investors might feel agitated and it might ruin their image. So they need to be not too early, and not too late. This makes me think of all the complications of the stock exchanges whether if it's a regular day, or after a hurricane. I would like to research further on how the advantages and disadvantages to the stock markets. It makes me think about the effects of the stock markets on my life and other people's lives too.  

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