New York Stock Exchange

Mr. Donaldson spoke on the state of the United States economy in relation to his role with the New York Stock Exchange. His philosophy in running the exchange includes preaching the need for making it more competitive with international exchanges, asking Wall Street firms to "go back to basics, the need for technological innovation, and working towards the creation of 24-hour trading. He warned that fragmentation occurs when trading is done outside the stock market. He said that his job is strictly to keep the market running, not to figure out where it is going to go. Mr. Donaldson founded the first Wall Street firm to go public. He has served as a Dean at Yale University. He became chairman of the NY Stock Exchange on January 1, 1991.