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SIFMA SmartBrief
December 11, 2007
 

Editor's Viewpoint

Looking Back at 2007
Throughout 2007, it has been a pleasure to bring you the SIFMA SmartBrief each day -- delivering the industry news that matters most to your business. Part I of this SIFMA SmartBrief special year-end report rounds up the most important trends, stories and events of the past year. Part II, which will hit your inbox Thursday, will provide a glimpse into what's in store for 2008.

This was an exciting year for our industry. The April merger of NYSE Group and Euronext brought forth the largest exchange group in the world. The creation of the Financial Industry Regulatory Authority (FINRA) in July combined the efforts of the NYSE and NASD to mark a new era in nongovernmental regulation. The second half of 2007 brought trying circumstances as the credit crunch hit the marketplace and led to write-down woes and leadership changes atop some of the industry's leading firms. The fourth quarter saw progress made on the harmonization of accounting standards as the SEC voted to allow foreign companies to use International Financial Reporting Standards.

This year's Annual Meeting was once again a huge success as we were able to peer into the minds of speakers that included FINRA Chairwoman and CEO Mary Schapiro, NYSE Euronext CEO John Thain and SEC Commissioner Annette Nazareth.

It was an exciting year, indeed. And now, here's what was most important to YOU in 2007.

Best of 2007


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Your Favorite SmartQuotes

Here are the quotes you shared with colleagues most often during 2007:

The pessimist sees difficulty in every opportunity. The optimist sees the opportunity in every difficulty."

--Winston Churchill,
British prime minister

A positive attitude may not solve all your problems, but it will annoy enough people to make it worthwhile."

--Herm Albright,
writer

When you step into a turnaround situation, you can safely assume four things: morale is low; fear is high; the good people are halfway out the door; and the slackers are hiding."

--Nina Disesa,
as chairwoman of McCann-Erickson Worldwide

If toast always lands butter-side down, and cats always land on their feet, what happens if you strap toast on the back of a cat and drop it?"

--Steven Wright,
comedian, actor

The three great essentials to achieve anything worth while are, first, hard work; second, stick-to-itiveness; third, common sense."

--Thomas Edison,
inventor and businessman

One of the hardest tasks of leadership is understanding that you are not what you are, but what you're perceived to be by others."

--Edward L. Flom,
CEO of Florida Steel

Do what you feel in your heart to be right -- for you'll be criticized anyway. You'll be damned if you do, and damned if you don't."

--Eleanor Roosevelt,
former first lady and American political leader

The statistics on sanity are that one out of every four Americans is suffering from some form of mental illness. Think of your three best friends. If they're OK, then it's you."

--Rita Mae Brown,
writer and activist

People, even more than things, have to be restored, renewed, revived, reclaimed, and redeemed; never throw out anyone."

--Audrey Hepburn,
Academy Award-winning actress, humanitarian

Rule No. 1: Use your own good judgment in all situations. There will be no additional rules."

--Bruce, Jim and John Nordstrom,
co-presidents of Nordstrom department store, in the employee handbook

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