Inadvertent Reagan Tribute
Written by: Beck
It's unrealistic to imagine that the health of financial markets ties in to the (generally anticipated) death of long ailing Ronald Reagan. Nonetheless, the Washington Post's headline,
Traders Honor Reagan With a Rally brought a smile to my face. Money line for you:
In a press release, NYSE CEO John A. Thain said Reagan "was a great champion of free people and free markets." Reagan was the first sitting president to visit the NYSE. On March 28, 1985, he spoke on the trading floor about his economic plan. Reagan visited the NYSE for a second time on May 13, 1992, as part of the NYSE's bicentennial commemoration. He was accompanied by former Soviet Union President Mikhail Gorbachev.
Thain said that Reagan "believed strongly in the ability of capitalism to foster opportunity and prosperity. It is appropriate that the nation's markets on Friday will honor President Reagan's contributions to freedom and democracy."