Rumors are embedded in the culture of Wall Street and global markets. The very name of The Wall Street Journal’s notable “Heard on the Street” daily column (one of my favorites), illustrates the importance of what is whispered in the corridors of power.
I was on the management and executive committees of the New York Stock Exchange for almost a decade. At the time, if you stood in the press gallery overlooking the main trading floor and watched somebody offer spicy gossip at one end of the trading floor you could almost see it travel from person to person across that enormous room.
