When Verizon balked at upgrading the NYSE’s telecom network sufficiently, the exchange resolved to create its own. After Labor Day 2002, the Securities Industry Automation Corporation announced it would provide a new telecom network for NYSE members called the Secure Financial Transaction Infrastructure – – a fiber-optic cable ringing Manhattan that NYSE members would hook into directly, eliminating their dependence on Verizon.
via Dead Phones Sent Wall Street Message (Part 2): Bratton and Tumin – Bloomberg.
The $700bn Question?
So what does $700bn get you? Simple it bails the people at the top of the money food chain out, and gets the ordinary man into more debt.
The more and more you look at the so called finicial crisis (greed karma) the more and more you see people feathering there own nests, the greed that got so many banks into this problem, is still there and apparently more prolific than ever. Not content with making a mess of their own systems of finance they want the common man to pay for their mistakes, and bail them out – yet again.