Nevada Stock Exchange Is A Bad Idea

Fernley NV

Description

There was a time where there were regional stock exchanges and they existed until the 1990s, the most famous of them probably the Pacific Stock Exchange in San Francisco. The problem was that it created a lot of chaos for stockholders, who didn't really know what was the actual price of the stocks they were buying out of one exchange or another, because it was hard for the stock markets, themselves, to actually keep track of the prices of stocks all over these markets. What had to happen did happen when the NYSE started taking over the regional stock markets and even had the most powerful association of stockbrokers advocate for a unified market with unified rules...even the SEC got on board, because it was easier to regulate one market than several. The other problem with a separate stock exchange may be the kind of stocks that get sold on that market, especially when it would be all too easy for some flim-flam artist or snake oil salesperson to float whatever they want to pass as stocks to raise easy cash and then leave town with it before the folks that bought and traded the stock realized that they were taken. Now if one winds up making a Nevada Stock Exchange part of NYSE or even get NASDAQ blessing to trade, the problem may be one of overhead for starters and how much it would cost the NYSE to host this market, especially when Nevada companies already invested themselves into other NYSE markets like in San Francisco or Denver, which used to be known as the market for Penny Stocks, the cheap stocks that usually come with a lot of risk and some fraud mixed in. There isn't a whole lot of money in Nevada to begin with and what money there is may be tied up in out-of-state companies that take whatever income they generate in Nevada and send it out-of-state, so there probably would not be that much interest in a Nevada Stock Exchange to begin with. Then comes to problems of where this Stock Exchange is to be located--I'm sure nobody wants it close to California, where even unscrupulous California investors could use a Nevada Stock Exchange to launder their money and probably siphon off more Nevada-generated wealth in the process...and I doubt there would be interest in a Stock Exchange based in Elko, which would be free from the influences of Las Vegas, Reno and Carson City.