i told baker that when it was posted originally.
If they lost $450b in rev they would cease to exist.
Clearly the author knows fuck all about finance
DTCC
http://www.dtcc.com/
The Depository Trust & Clearing Corporation (DTCC) is an American post-trade financial services company providing clearing and settlement services to the financial markets. It performs the exchange of securities on behalf of buyers and sellers and functions as a central securities depository by providing central custody of securities.
DTCC was established in 1999 as a holding company to combine The Depository Trust Company (DTC) and National Securities Clearing Corporation (NSCC). User-owned and directed, it automates, centralizes, standardizes, and streamlines processes in the capital markets.[2] Through its subsidiaries, DTCC provides clearance, settlement, and information services for equities, corporate and municipal bonds, unit investment trusts, government and mortgage-backed securities, money market instruments, and over-the-counter derivatives. It also manages transactions between mutual funds and insurance carriers and their respective investors.
In 2011, DTCC settled the vast majority of securities transactions in the United States and close to $1.7 quadrillion[3][4][5] in value worldwide, making it by far the highest financial value processor in the world.[5] DTCC operates facilities in the New York metropolitan area, and at multiple locations in and outside America.
Multiple diggs on saturday in notables
It is a HUGE part of this financially speaking
https://en.wikipedia.org/wiki/Depository_Trust_%26_Clearing_Corporation
could be but here is the best part
This is the most comical and stupid story EVER.
Locate what records they had at a different location which was well below the water table and then sent super storm sandy right up the gut of it. Flooded the building out
_________
http://www.dtcc.com/annuals/2013/superstorm-sandy-recovery/index.php
Superstorm Sandy: Prelude to an Unprecedented Recovery
When dawn broke over New York City on October 30, 2012, Superstorm Sandy, the largest Atlantic hurricane on record, had moved on. The water from two rivers and New York Harbor that had swept across lower Manhattan just a few hours earlier began to recede. But not so for the subways and buildings near the tip of the island where the water surged and settled. More than 15 million gallons of salt water filled the South Ferry subway station – from track level all the way up to the station's mezzanine – just a few steps from the street.
The story was very much the same for DTCC's offices at 55 Water Street, where millions of gallons of water flooded and filled the building's basement and sub-basements, left several feet of water in the building's ground-floor lobby and engulfed its securities vault located five stories below ground.
The flooding wreaked havoc, strewing more than 1.7 million water-logged certificates, as well as millions of other documents, throughout the vault. DTCC suddenly faced the monumental task of recovering, restoring and reconciling these documents. But the company couldn't begin to do even a preliminary assessment of the damage for nearly two weeks after the storm as seawater was pumped out of the vault.
Finally on Tuesday, November 13, 2012, teams consisting of two recovery experts from outside DTCC, one representative from DTCC operations, another from DTCC internal audit – plus a videographer – began the trek down five flights of stairs into a darkened, damp and cold DTCC vault to begin the largest vault recovery ever undertaken.
https://dealbreaker.com/2012/11/hurricane-sandy-destroys-trillions-of-dollars-of-securities-but-thats-no-big-deal
http://www.omegashock.com/2014/08/19/dtcc-the-corporation-that-owns-everything/
and to top it off they opened up all the doors to get some airflow and then set in on FIRE.
Couldn't make this up if you tried>>5039339
All those records were torched after flooding so your guess as good as mine.
What records they did keep and are traceable should belong to us.
They had better after that fuckery. Knew this when it went on but what can you do.