Sandy may have flooded paper stock certificates
Share Now on:
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.
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.
We’re here to help you navigate this changed world and economy.
Our mission at Marketplace is to raise the economic intelligence of the country. It’s a tough task, but it’s never been more important.
In the past year, we’ve seen record unemployment, stimulus bills, and reddit users influencing the stock market. Marketplace helps you understand it all, will fact-based, approachable, and unbiased reporting.
Generous support from listeners and readers is what powers our nonprofit news—and your donation today will help provide this essential service. For just $5/month, you can sustain independent journalism that keeps you and thousands of others informed.