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Final Note

Sandy may have flooded paper stock certificates

Kai Ryssdal Nov 2, 2012
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Final Note

Sandy may have flooded paper stock certificates

Kai Ryssdal Nov 2, 2012
HTML EMBED:
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This final note today, in which we learn that for all of that digitized electronic trading it does, Wall Street is still an analog operation in some ways.

I saw on John Carney‘s blog today at CNBC that the headquarters of the Depository Trust & Clearing Corporation are still underwater.

That might not mean much to you until I say that in its basement vault — its flooded basement vault — it’s got 1.3 million shares of stock, bonds and foreign securities. Paper shares, that is.

Gotta figure they’re pretty much mush by now, right?

A spokeswoman does say they’ve got an electronic inventory of ’em, though.

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