Friday, February 11, 2011

Goldman Sachs Former Chief Whitehead Says NYSE Deal ‘An Insult’

"John C. Whitehead isn’t celebrating the 219-year-old New York Stock Exchange’s plan to be acquired by Germany’s 18-year-old Deutsche Boerse AG.

“I think it’s a terrible idea and I hope it can be stopped,” Whitehead, the 88-year-old former co-chairman of Goldman Sachs Group Inc., said in an interview yesterday. “It would be an insult to New York City, and New York State, and indeed to all America.”

The erstwhile U.S. deputy secretary of state, NYSE director and Lower Manhattan Development Corp. chairman said his experience gives him the credibility to speak out against the potential takeover."

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