This final note today, in which we learn that for all of that digitized electronic trading it does, Wall Street is still an analog operation in some ways.
I saw on John Carney‘s blog today at CNBC that the headquarters of the Depository Trust & Clearing Corporation are still underwater.
That might not mean much to you until I say that in its basement vault — its flooded basement vault — it’s got 1.3 million shares of stock, bonds and foreign securities. Paper shares, that is.
Gotta figure they’re pretty much mush by now, right?
A spokeswoman does say they’ve got an electronic inventory of ’em, though.