{"page":"\u003clink rel=\"stylesheet\" href=\"https://lessonplanet.com/assets/packs/css/resources-c03aa079.css\" /\u003e\n\u003clink rel=\"stylesheet\" href=\"https://lessonplanet.com/assets/packs/css/lp_boclips_stylesheets-517835be.css\" media=\"all\" /\u003e\n\u003cdiv data-title='USA: FEDERAL RESERVE STOCK MARKET CONCERNS' data-url='/boclips/videos/5c54c545d8eafeecae16efd7' data-video-url='/boclips/videos/5c54c545d8eafeecae16efd7' id='bo_player_modal'\u003e\n\u003cdiv class='boclips-resource-page modal-dialog panel-container'\u003e\n\u003cdiv class='react-notifications-root'\u003e\u003c/div\u003e\n\u003cdiv class='rp-header'\u003e\n\u003cdiv class='rp-type'\u003e\n\u003ci aria-hidden='true' class='fai fa-regular fa-circle-play'\u003e\u003c/i\u003e\nVideo\n\u003c/div\u003e\n\u003ch1 class='rp-title' id='video-title'\u003e\nUSA: FEDERAL RESERVE STOCK MARKET CONCERNS\n\u003c/h1\u003e\n\u003cdiv class='rp-actions'\u003e\n\u003cdiv class='mr-1'\u003e\n\u003ca class=\"btn btn-success\" data-posthog-event=\"Signup: LP Signup Activity\" data-posthog-location=\"body_link_boclips\" data-remote=\"true\" href=\"/subscription/new\"\u003e\u003cspan\u003e\u003cspan\u003eGet Free Access\u003c/span\u003e\u003cspan class=\"\"\u003e for 10 Days\u003c/span\u003e\u003cspan\u003e!\u003c/span\u003e\u003c/span\u003e\u003c/a\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003cdiv class='rp-body'\u003e\n\u003cdiv class='rp-info'\u003e\n\u003cdiv aria-label='Hide resource details' class='rp-hide-info' role='button' tabindex='0'\u003e\u0026times;\u003c/div\u003e\n\u003ci aria-label='Expand resource details' class='rp-expand-info fai fa-solid fa-up-right-and-down-left-from-center' role='button' tabindex='0'\u003e\u003c/i\u003e\n\u003ci aria-label='Compress resource details' class='rp-compress-info fai fa-solid fa-down-left-and-up-right-to-center' role='button' tabindex='0'\u003e\u003c/i\u003e\n\u003cdiv class='rp-rating'\u003e\n\u003cspan class='resource-pool'\u003e\n\u003cspan class='pool-label'\u003ePublisher:\u003c/span\u003e\n\u003cspan class='pool-name'\u003e\n\u003cspan class='text'\u003e\u003ca data-publisher-id=\"30356011\" href=\"/search?publisher_ids%5B%5D=30356011\"\u003eCurated Video\u003c/a\u003e\u003c/span\u003e\n\u003c/span\u003e\n\u003c/span\u003e\n\u003c/div\u003e\n\u003cdiv class='rp-description'\u003e\n\u003cspan class='short-description'\u003eEnglish/NatU-S Federal Reserve Chairman Alan Greenspan told a Senate inquiry on Thursday that he is concerned that U-S stock markets may become obsolete.Referring to the proliferation of on-line share trading sites he said the government...\u003c/span\u003e\n\u003cspan class='full-description hide'\u003eEnglish/Nat\u003cbr/\u003eU-S Federal Reserve Chairman Alan Greenspan told a Senate inquiry on Thursday that he is concerned that U-S stock markets may become obsolete.\u003cbr/\u003eReferring to the proliferation of on-line share trading sites he said the government should not force a system on the markets to centralize stock orders.\u003cbr/\u003eThe explosion of on-line share trading threatens to  weaken the hold of stock exchanges around the world, no more so than on Wall Street, one of the major financial centres.\u003cbr/\u003eComputerized trading has opened the possibilities for shares to be traded 24 hours on stock exchanges around the world and through private traders on the worldwide web.\u003cbr/\u003eAt a Senate hearing on the impact of cyber trading on the American financial system Committee Chairman Senator Phil Gramm raised his concerns about the U-S stock market.\u003cbr/\u003eSOUNDBITE: (English)\u003cbr/\u003e\"This is a market that we invented, that we dominated and because of over regulation by government, because of slowness to adopt new technology we now have the German market larger and growing faster than our markets.  I don't want to see this happen to the New York Stock Exchange or to Nasdaq.\" \u003cbr/\u003eSUPER CAPTION: Senator Phil Gramm\u003cbr/\u003eSpeaking to the Senate Banking Committee, Alan Greenspan made no mention of monetary policy, but he said there were dramatic changes ahead for the United States economy.\u003cbr/\u003eSOUNDBITE: (English)\u003cbr/\u003e\"Yet our established markets are undergoing profound competitive pressures and challenges, which they cannot fail to meet if they are to survive.  The very financial participants they serve are signalling that our exchanges may soon become noncompetitive and their centralized liquidity could drift to presumably far more automated venues.\"\u003cbr/\u003eSUPER CAPTION: Alan Greenspan, Federal Reserve Chairman\u003cbr/\u003eAnd the Federal Reserve Chairman warned the lawmakers that American financial institutions must move with the times.\u003cbr/\u003eSOUNDBITE: (English)\u003cbr/\u003e\"It would be unfortunate if this prized institution, symbolizing American financial hegemony, allowed itself to become marginalised.  But if it fails to respond to technological change, one centralised trading venue,  even the New York Stock Exchange can be displaced by another, as other trading systems take advantage of newer technology to offer greater efficiency or to provide new functions investors value more highly.  The transition process would fragment, a necessary consequence of the process of competition in the provision of trading services.\"\u003cbr/\u003eSUPER CAPTION: Alan Greenspan, Federal Reserve Chairman\u003cbr/\u003eSome Wall Street firms have called for restrictions on on-line share trading including a centralized system, because of the rapid growth of computerized trading systems. \u003cbr/\u003eThe Securities and Exchange Commission has asked for comments on  whether such a centralized approach would be a good idea.\u003cbr/\u003eBut Greenspan said the problem is that changes to the present trading rules may not be too little too late,  because they may already be obsolete.\u003cbr/\u003eWashington DC, USA - 13 April, 2000    XFA\u003cbr/\u003e1. Close-up Senator Phil Gramm and Federal Reserve Chairman Alan Greenspan\u003cbr/\u003e2. Greenspan going to his seat\u003cbr/\u003e3. SOUNDBITE: (English) Senator Phil Gramm\u003cbr/\u003e4. SOUNDBITE: (English) Alan Greenspan, Federal Reserve Chairman\u003cbr/\u003e5. Wide of hearing\u003cbr/\u003e6. SOUNDBITE: (English) Alan Greenspan, Federal Reserve Chairman\u003cbr/\u003e7. Wide of hearing\u003cbr/\u003eKeyword-economy\u003cbr/\u003e\u003c/span\u003e\n\u003c/div\u003e\n\u003cdiv class='action-container flex justify-between'\u003e\n\u003cbutton aria-expanded='false' aria-label='Read more description' class='rp-full-description' type='button'\u003e\n\u003ci class='fai fa-solid fa-align-left'\u003e\u003c/i\u003e\n\u003cspan id='read_more'\u003eRead More\u003c/span\u003e\n\u003c/button\u003e\n\u003cdiv class='rp-report'\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003cdiv aria-labelledby='resource-details-heading' class='rp-info-section'\u003e\n\u003ch2 class='title' id='resource-details-heading'\u003eResource Details\u003c/h2\u003e\n\u003cdiv class='rp-resource-details clearfix'\u003e\n\u003cdiv class='detail'\u003e\n\u003cdl\u003e\n\u003cdt\u003eCurator Rating\u003c/dt\u003e\n\u003cdd\u003e\u003cspan class=\"star-rating\" aria-label=\"3.5 out of 5 stars\" role=\"img\"\u003e\u003ci class=\"fa-solid fa-star text-action\" 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id='concepts-heading'\u003eConcepts\u003c/h2\u003e\n\u003cdiv class='clearfix'\u003e\n\u003cdiv class='details-list concepts' data-identifier='Boclips::VideoDecorator' data-type='concepts'\u003emonetary policy, banking, north america, economy, markets, business, banks\u003c/div\u003e\n\u003cdiv class='concepts-toggle-buttons' data-identifier='Boclips::VideoDecorator'\u003e\n\u003cbutton aria-expanded='false' class='more btn-link' type='button'\u003e\n\u003cspan\u003eShow More\u003c/span\u003e\n\u003ci aria-hidden='true' class='fa-solid fa-caret-down ml5'\u003e\u003c/i\u003e\n\u003c/button\u003e\n\u003cbutton aria-expanded='true' class='less btn-link' style='display: none;' type='button'\u003e\n\u003cspan\u003eShow Less\u003c/span\u003e\n\u003ci aria-hidden='true' class='fa-solid fa-caret-up ml5'\u003e\u003c/i\u003e\n\u003c/button\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003cdiv aria-labelledby='additional-tags-heading' class='rp-info-section'\u003e\n\u003ch2 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