German exchange buying New York Stock Exchange.
On the face of it, a German company is buying an icon of American capitalism.
The reality of Deutsche Boerse AG’s proposed acquisition of the New York Stock Exchange is more complex.
For one thing, two of Deutsche Boerse’s largest shareholders are American.
Also, the parent company of the New York Stock Exchange isn’t entirely American. NYSE Euronext Inc. was formed in a merger between the NYSE and a group of European exchanges in 2007. Euronext itself was created in 2000 from the combination of stock markets in Paris, Brussels and Amsterdam.
The proposed merger of Deutsche Boerse and NYSE Euronext, announced Tuesday, would create a worldwide owner of financial markets that would be incorporated in the Netherlands. The new company would have dual headquarters in New York and Frankfurt.
CME Group Inc., owner of the Chicago Mercantile Exchange and the Chicago Board of Trade, held Tuesday to its “no comment” stance about reports that it might submit a competing offer.
NYSE Euronext is already global. U.S. stock and derivatives trading contribute only 14.4 percent of its revenue, while 34.6 percent comes from European trading. Similarly, Deutsche Boerse owns the American options exchange International Securities Exchange. Five of its 10 largest shareholders are American, according to FactSet.
 Watching the fading of a once great Republic 2010!
By David Deming
There is a whiff of anarchy in the air this morning. As I sit here writing, a conservative victory in the midterm elections looms. But I find no reason to be optimistic. The midterm elections will solve nothing. The plain fact is that conservatives have lost the battle for America. The country that many of us were born in has ceased to exist. And we have no one to blame but ourselves. Nothing can or will change until we come to terms with the grim reality of moral degeneration. And I have no hope that this can happen, save by some terrible trial.
Last week in Oklahoma City, two pedestrians were run down by cars at the same intersection within a few hours. In one incident, the driver did not bother to stop, but continued driving as if nothing had happened. It was a horrific but perfect metaphor for the self-absorbed entitlement mentality that grips the country.
Every day, the news brings a startling new incident of moral corruption. A few days ago it was reported that an eighteen-year-old geology student at Arizona State University had starred in an online pornographic film in which she performed "explicit and degrading" sex acts for a one-time payment of $2,000. The young woman explained that she needed the money to supplement her scholarship, and then inexplicably proclaimed, "I have morals!"
We are a nation of gluttons. About one-third of adults in the U.S. are obese. To qualify as "obese," the average person has to be not just overweight, but carry an extra thirty-five pounds or more. In the last thirty years, the obesity rate in America has more than doubled. It is the sheerest irony that today, the average person has the choice of a multiplicity of fresh, wholesome, and nutritious foods, all available at the lowest prices in history. But choosing and preparing the best foods takes time and effort. We would rather stuff ourselves with fast food because it's tasty and convenient. The consequences of this slothful lifestyle include hypertension, diabetes, and heart disease. After ruining our health through gluttony, we then go to our physicians and demand a quick fix in the form of a pill. Pharmaceutical companies are glad to oblige. And the government must pay, because free health care is now a "right."
There is no better index for America's moral degradation than television programming. Compare today's shows with those of a generation ago. Every episode of "The Andy Griffith Show" contained a short moral lesson, and "The Twilight Zone" challenged our intellects and stretched our imaginations. But entertainment and instruction have devolved into shock and novelty. The networks are locked in a downward spiral to see who can provide the most outrageous and offensive programming. It's not their fault. They're just giving the American people what they want.
Children are not as smart as their parents. The average child today spends thirteen hours watching television for every hour he spends reading. We blame teachers and schools for failing to educate our children. But what can they do with undeveloped and undisciplined minds that expect to be entertained and rebel at the labor of thought? The decline in intellectual aptitude is so dramatic that the authors of the SAT test have had to add a hundred points to the combined math and verbal score just to make current averages equal of those of a generation ago.
We are oblivious to the fact that our society is intellectually and artistically bankrupt. Modern art is not good enough to be bad. At the beginning of the sixteenth century, Leonardo da Vinci took four years to paint the Mona Lisa. He left the work unfinished because he was always seeking to add "perfection to perfection." Earlier this year, x-ray fluorescence spectroscopy revealed that the way Leonardo created realistic flesh tones was by building up successive layers of pigments that were as thin as a few micrometers. A micrometer is a thousandth of a millimeter.
Compare Leonardo's work with that of the modern American artist Robert Ryman. Ryman began his career working as a security guard at a museum. The guard decided he wanted to become a painter, so he bought some white house paint and slathered it on a canvas. Art critics had orgasms. For decades, Ryman has continued to produce paintings that consist of nothing but monochrome white. The tones and textures vary, but most of Ryman's paintings consist of nothing but a plain white surface. Ryman has explained that he paints only white surfaces because he wants to "reduce visual disturbances." Imagine that the next time you're contemplating Michelangelo's "disturbances" on the ceiling of the Sistine Chapel.
Our popular music is a painful cacophony of obnoxious dissonance. The eighteenth and nineteenth centuries had Mozart, Beethoven, and Tchaikovsky. We have Snoop Dogg and Lady Gaga. Is that progress? We have advanced technology, but do we use it to uplift ourselves? No, we indulge the animal side of our natures. The internet is mostly used for downloading pornography or playing video games.
In America today, everyone is entitled to everything. According to a recent report by NPR, the mentally retarded are now attending college and receiving grants. Professors are being advised (i.e., pressured) to modify their curricula to accommodate the new students. People incessantly demand entitlements and handouts. Every government intervention in the free-market system creates a fresh problem that demands another ruinous intervention with unintended consequences. Nobody is responsible for anything, and no one wants to pay the bills. And believe me, they're coming due.
In this brave new world, everyone has the right to not be offended, and no one can be held accountable for anything. The fundamental unit of human civilization, the family, has been caustically eroded by feminism. The divorce rate is fifty percent. Oklahoma is supposedly a conservative state. Last year, a state legislator introduced a bill that would require parents with minor children seeking a divorce to first undergo counseling. Not only was the bill not passed, but the legislator was derided and mocked. How dare anyone be required to undertake the work necessary to save a marriage for the sake of his or her children? Why, it might interfere with their pursuit of happiness.
We celebrate homosexuality and then wonder why sexually transmitted diseases are exploding. According to the CDC, men-who-have-sex-with-men make up only two percent of the population but account for 53 percent of all new HIV infections and 64 percent of all new syphilis cases.
I'm beginning to acquire an appreciation for Paul's doctrine of Original Sin. The nation that began with freedom of religion has progressed to freedom from religion, freedom from moral constraint, and freedom from responsibility. Just as Plato described in the Republic, the "horses and asses" are "marching along with all the rights and dignities of freemen," and the ultimate result can be only that "tyranny will spring from democracy."
Elections matter only in the short term. Every long-term social index I am aware of is negative. The plain fact is that the American people are too morally degenerate to be capable of effective self-government. The Roman satirist Juvenal understood. "The people that once bestowed commands, consulships, legions and all else, now meddles no more and longs eagerly for just two things -- bread and games!" I can find no reason to be optimistic. It is only our blind vanity that lets us pretend that the United States can endure forever. Rome fell, and so will America. For all intents and purposes, it is already over.
Dismantling America Written by THOMAS SOWELL
The Constitution has been a continuing challenge to those who think ordinary people should be ruled by their betters. ‘We the people” are the familiar opening words of the Constitution of the United States — the framework for a self-governing people, free from the arbitrary edicts of rulers. It was the blueprint for America, and the success of America made that blueprint something that other nations sought to follow. At the time when it was written, however, the Constitution was a radical departure from the autocratic governments of the 18th century. Since it was something so new and different, the reasons for the Constitution’s provisions were spelled out in the Federalist, a collection of essays written by three of the writers of the Constitution, as a sort of instruction guide to a new product. The Constitution was not only a challenge to the despotic governments of its time, but has been a continuing challenge — to this day — to all those who think that ordinary people should be ruled by their betters, whether an elite of blood, or of books, or of whatever else gives people a puffed-up sense of importance.
While the kings of old have faded into the mists of history, the principle of the divine rights of kings to impose whatever they wish on the masses lives on today in the rampaging presumptions of those who consider themselves anointed to impose their notions on others.
The Constitution of the United States is the biggest single obstacle to the carrying out of such rampaging presumptions, so it is not surprising that those with such presumptions have led the way in denigrating, undermining, and evading the Constitution.
While various political leaders have, over the centuries, done things that violated either the spirit or the letter of the Constitution, few dared to openly say that the Constitution was wrong and that what they wanted was right.
 The collapse of America. A planned event. Will good Americans wake up in time? Written by Michael SnyderIf you can still put a roof over your head and food on the table for your family, you should consider yourself to be very fortunate. There are millions of Americans out there right now that are really, really suffering. The cold, hard reality of it is that there aren't even close to enough jobs out there for everyone right now. It is almost as if we are all caught in a really bizarre game of musical chairs where the losers get stripped of their tickets to the middle class. What this horrible economy is doing to the dignity of millions of middle class Americans is incredibly saddening. There are a lot of very highly educated and very hard working Americans who cannot seem to get jobs no matter what they do and now find themselves doing whatever they can just to survive. It can be really hard to keep your dignity when you played by all the rules and you worked as hard as you could all your life and now you find yourself a half step away from being homeless. Those of us who are still doing okay should never look down on those who are struggling in this economy, because the truth is that any of us could be next. If you really want to read some horror stories about what long-term unemployment is doing to some people in America, you should go spend an hour or two over at Unemployed-Friends some time. It is a great forum with a lot of great resources for the unemployed, but it also contains dozens and dozens and dozens of heartbreaking stories from middle class Americans who have had their lives shattered by this economic downturn. The following is a typical story on Unemployed-Friends. It is from a 48 year old Air Force veteran who has lost everything and is now sleeping in his vehicle. It turns out that Scott48's job was shipped off to India and now he has been out of work for over two years.... "I am a 48 year old USAF Vet. I got my house in 1996 with the help of the VA. In 2009 the company I worked for went out of buisness(gone to India) I then became a 99er. I notified Wells Fargo that I lost my job and they said they would work with me, the next mortgage statement I got they conveniently increased my mortgage! With what I got from UE was enough for the house but I had to cut out the luxury of food, gas, utillities, insurance, entertainment and alcohol. That was it for me, so the forecloser ball was in motion. I had to give my dog to my cousin so he would get fed, I took everything I owened to the auction( execpt tools, clothes, pictures, tech manuals and my Saxophone) and sold it. I went to a half-way house the VA recomended for a week and it was joke, so my cousin said I could stay with her. After 4 months she diecided that I wasnt looking hard enough and kicked me out, and Ive applied for everything except selling myself. This summer I was staying in an abandoned house due to forecloser and the real estate company has now put it on the market, and I am now on the street sleeping in my vehicle or a friend here and there. Keeping clean is going to be a challenge cuz the Flying J truck stops charge $10 for a shower, rip-off. What a country!" The truth is that this economy is driving many Americans to the brink of desperation. Even recent college graduates are becoming desperate enough to actually consider suicide. The following story is from an Unemployed-Friends user known as 08pacollegegrad.... "I could just take any job like working at fast food places, but I hear people who try can't even get hired there. I went to Wendy's for lunch the other day and I thought of picking up an application...but the slot where they keep the applications was completely empty. That should say it all. Plus, I feel like if I take just any job...I will be set back further and never be able to gain experience in my chosen fields. I follow up on job applications, but employers ignore me for the most part when I try to contact them. I sent five follow up e-mails last week and got no responses. I contacted an employer expressing my interest in working for them, but all they gave me is the link to their online application system that I have never gotten a job from. I am thinking of applying for more internships (I have already done two), but I don't want employers to think why I am applying for an internship when I should have had a full fledged job by now. I have almost killed myself over my situaion and am taking anti-depressants right now. I see a psychiatrist every 4-6 weeks, but I still have days where I feel so empty. I am sick of sitting at home searching for jobs and praying for a response that never comes." Many Americans spend day after day after day looking for a job that never comes. The sense of hopelessness that can build after doing this for a few years is almost indescribable. The following is another incredibly sad story from an Unemployed-Friends user known as feuxdejoie.... Read the rest of the article here! (Click).
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