From Wall Street To Main Street — Then To The Streets Of Baghdad
January 18, 2008 at 5:33 am
Wall Street woes giving you the blues?
Why not put your money elsewhere — like, the Iraq stock exchange?
Here’s Securities and Exchange Commission chairman Chris Cox last week:
… the nations of the world have increasingly embraced capitalism over the past decade and a half. Securities exchanges, which used to be restricted to countries with golf courses, have proliferated around the world so that today more than 112 nations have active securities markets.
Even in Baghdad, the Iraq Stock Exchange now operates under the oversight of the Iraq Securities Commission, an independent agency modeled after the U.S. Securities and Exchange Commission. And the Iraq exchange was just recently opened to foreign investors this past summer. So today, you can diversify your portfolio to include issues such as the Bank of Baghdad, or the Baghdad Soft Drinks Company, or the Iraqi Tufted Carpets Company.
Politicians and activists talk about the need for shared sacrifice. How about the need for shared investment? The Iraq stock market can only go up.
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