You're watching...
Matson Money CEO Mark Matson on U.S. markets closing for two days due to Hurricane Sandy.
Also in this playlist...
Auto-advance: ON
Auto-advance
This transcript is automatically generated
Obviously got standing.
You know we weren't trading for a couple of days and then it would finally resumed today.
It was -- Mayor Bloomberg was there.
Along with Doug Duncan -- of a man who runs.
The NYSE Euronext as it's called.
It was a lot quieter Bom -- -- but they got through it did we really need.
To go through all of this sort as you know are on Charlie Gasparino.
Has questioned the impact PR -- this is that on us this global bastion of capitalism was -- its markets were were sidelined for a storm of bad storm.
But disarmament talks and that's about -- CEO mark rats and now that's what do you think job that that this.
Didn't look good for us to be is too -- put it does shut down.
And just quieted in the middle of a storm for two days of us.
I think it was actually the right thing do you remember these guys these market makers and traders on Wall Street.
They make their money when there's actually going back and forth -- -- -- -- showed done a tremendous restraint.
Secondly you know the average investor needs to be looking.
1020 years down the road with building their portfolio so given any two day period I think that that's not -- -- -- would need deal breaker.
And thirdly I think that.
You know as far as having respect the United States I think we lose more respect by having massive deficits structural forty cents on every dollar borrowed that's what's causing us to lose respect globally.
Not these two days with the storm.
You know that is brilliantly put I wish when I was argue with Charlie earlier I had framed it that way.
But that's what makes you the big expert in May be great teleprompter reader but I am letting you know -- Harris -- idea that is a very good point.
Did there was also the human safety issue and and I know others and explained it debt.
Look you can do this a lot of the stuff on computers are you and I know you can't do it really it's easily -- -- -- people doing stuff I guess.
There's an -- -- -- would have in -- -- in downtown New York in harm's -- The what do you make of that argument that next time -- there will be a next time we we get our act together so that we can resume trading regardless of the calamity.
Or is it that important to resume trading during climate in my argument as you know it isn't human beings -- more than -- sector.
Yeah it sure does it hurt us guys had gone back to work early.
You know we had eight flash crash where a trillion dollars was lost in the market in ten minutes.
And luckily it was -- by the -- today I mean investors have lost faith.
In the markets they've lost faith in equities in the last thing we need need is people going back to work at risking safety and at the same time risking another technique technological.
Crest which could -- even more damage to the yacht the psyche of the main street investor.
That is very well -- mark on Iowa's senator -- Your mouth in my brain earlier today -- thank you meant very good having you.
Our president yet then again I've raised -- before -- this earlier but I I don't.
Covering capitalism here but I got -- -- you got a storm you have people harm's way -- people who could potentially die in drown.
Is it worth it for the nickel and IBM is really.
There's really.
