Specialists' Moves Monday May Have Staved Off Bigger Market Fall

Everybody loves to hate Wall Street, but maybe we should give the NYSE floor specialists a little credit for mitigating the market decline:

“If this was purely electronic, it could have been down 1200 or 1300 on the Dow,” said Bernie McSherry, a senior vice president with Cuttone & Co., the largest independent floor operator at the NYSE.

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