On Monday, April 27, 2009 at 11:22:19 (-0400) Doug Henwood writes: > >On Apr 27, 2009, at 10:08 AM, Bill Lear wrote: > >> I should know the answer to this, but the general purpose of the >> stock market is clearly not to raise new capital for businesses. >> >> What broader economic purpose does it serve? > >I have a ton on this in Wall Street.
Yeah, I know but I don't have it at hand. I suppose I could just peruse your online version... I was also interested in the question that I raised about how stock prices could affect prospects for getting loans for a company. The basic argument I made to a co-worker is that stock markets are not very good for raising new capital --- at least they are not used very much for that purpose. The counter-argument is "Au contraire, stock valuations are used to get financed". And this, I believe, is very dubious. Bill _______________________________________________ pen-l mailing list [email protected] https://lists.csuchico.edu/mailman/listinfo/pen-l
