Letter: 2 kinds of panic right now: One local, the other on Wall Street

Are trading stocks an
‘essential business’?

There are two kinds of panics going on right now. One is in our
communities, where people are hoarding everything from toilet paper
to pasta. The other is on Wall Street, where investors
understandably are scared silly by this crisis on the world
economy.

What I don’t understand is while the general populace here and
around the world, are being asked to shelter in place and shut down
all nonessential businesses, why aren’t the markets doing the
same?

Are trading stocks an essential business? What makes buying and
selling equities essential, especially when you consider that every
day the markets are losing hundreds of billions of dollars of
wealth, that not only impact the wealthy, but more importantly,
working people’s retirement and investment savings?

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There is precedent in shutting down markets until the crisis is
stabilized. It needs to be done and done now.

Alan Zisser
Campbell

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Source: FS – All – Interesting – News 2
Letter: 2 kinds of panic right now: One local, the other on Wall Street