Jim Cramer knows that Thomas Farley is the embodiment of the future. As President of the New York Stock Exchange (NYSE) Group since the closing of the NYSE Euronext acquisition in November 2013, he has demonstrated the importance of strong leadership in a tough environment.
Schools all over the U.S. offer classes on topics such as wood work and auto mechanics, but not investing, so the question becomes how to educate future leaders on the importance of financial literacy.
Are there really that many people whittling wood in their spare time?
Thomas Farley shared his opinion about the lack of financial literacy in the U.S. in an interview with Cramer at the CNBC 25th Anniversary Gala on Thursday.
"The percentage of Americans that hold individual stocks is at a 16-year low. I think it's for two reasons: One, the market is very complicated. And two, we don't have enough financial literacy education," he said.