A Theme for 2009 - "Reset"

Written by: John Giesea

5 January 2009

A quote from GE CEO, Jeffrey Immelt captures a vision of 2009: “The economic crisis doesn’t represent a cycle; it represents a fundamental reset.”

2009 promises to be a year that will be historic in many ways. We will witness President Barack Obama assuming the mantel as President of the United States of America. The new administration enters with anything but a “normal” transition.

Events are moving at lightning speed and Washington becomes the financial capital of the world. In 2008, we witnessed virtually everyone suffering a loss of one kind or another. The depth and breadth of “pain” goes beyond anything we have previously witnessed.

So, in a way, the year 2009 represents somewhat of a “reset”. As indicated by a new administration, we see the beginnings of the resetting of regulation in the financial markets as well as the need to “reset” trust and confidence not only in our markets but in our government. There is no shortage of issues that the coming year will bring.

The need for STA reaches pinnacle proportions. Our members need our support as they fight to remain viable and valuable in their respective roles. The equity markets need STA’s attention to insure that inappropriate regulation does not degrade market quality.

As in the past, we will meet the challenges ahead, focusing on the critical role played by traders.

There is a pressing need to assist and observe any positive trend that would assist displaced individuals to regain an income stream. This time gives us cause to reemphasize STA’s motto—Dictum Meum Pactum (My Word is My Bond). Nothing has changed since it was adopted many years ago – we simply need to live the motto.

STA is turning 75 and the need to reinforce our goal of promoting “the highest professional standards” remains intact. We can make a difference in restoring investor confidence in our markets. We can, and should, work to uplift the image of a “trader”. Each of us can do our part daily by living this standard of excellence; earning trust and being recognized for personal integrity. Our co-workers, competitors and others will recognize that this is the “right” way and anything short of that is unacceptable.

As we reset our calendars, STA leadership has reset its commitment to our members and to being an agent of positive change for U.S. equity markets.

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    — James Barry · Jan 7, 11:52 AM · #

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