On the connection between Quantum Mechanics and the geometry of two-dimensional strings

On the basis of an area-preserving symmetry in the phase space of a one-dimensional matrix model - believed to describe two-dimensional string theory in a black-hole background which also allows for space-time foam - we give a geometric interpretation of the fact that two-dimensional stringy black holes are consistent with conventional quantum mechanics due to the infinite gauged `W-hair' property that characterises them.