Tuesday, May 11, 2010
Here is SEC Chair Schapiro's written testimony submitted for the Capital Markets Subcommittee on the Severe Market Disruption on May 6, 2010. Her bottom line:
"The sudden evaporation of meaningful prices for many major exchange-listed stocks in the middle of a trading day is unacceptable...."
But no answers yet -- "The SEC is engaging in a comprehensive review and will take necessary steps to implement additional safeguards ...."