NYSE Statement is Gobbledygook – Giuliani

Former New York City Mayor Rudy Giuliani spoke with FOX Business Network’s (FBN) Neil Cavuto about the New York Stock Exchange (NYSE) temporarily suspending trading on the floor. Giuliani said “the reality is” law enforcement “should know within 32 minutes what the problem is, even if they can’t cure it in 32 minutes” and that “they need a face to this who can get out there and give as much information as they can give, and show that they are in control of this.” Giuliani went on to talk about the statement the NYSE sent out saying, “this statement is a rather useless statement, it means nothing, it’s gobbledygook. Crisis management 101- you give out specific information as soon as you can.”

On what law enforcement is saying about the NYSE halt

“Law enforcement sources say that it is not a cyberbreach- how accurate that is, I don’t know. But the reality is that they should know within 32 minutes what the problem is, even if they can’t cure it in 32 minutes….They need a face to this who can get out there and give as much information as they can give, and show that they are in control of this. And even if they don’t know exactly what it is- it’s exactly what you’re saying- which is explain what you’re doing working on it. We have 45 people working on it, we have 50 people working on it, we have 3 companies working on it, we’ve got this working on it, we’ve got that working on it, and don’t worry it can all be straightened out later, it’s not that big a deal.”

On the NYSE halt

“My biggest problem here is that they’re not explaining it. When you’re in the middle of a crisis…just listening to your discussion coming over here – 10 different speculations, 10 different ideas. This statement is a rather useless statement, it means nothing, it’s gobbledygook. Crisis management 101- you give out specific information as soon as you can.”

On whether the NYSE isn’t saying anything because they don’t know what’s going on

“Then say you don’t know…They must know something, they must… look if they don’t know something more than this then the place is being run very poor.”

Fox Business Network

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