"Major banks" are also on Plunge Protection Team

[wilburbear]

http://www.nypost.com/business/george_let_plunge_slip_business_john_crudele.htm

The danger here is that the public will begin to rely on Plunge Protection Team, and overbuy the market.

 

[gnome]

Seems to me they already are.

 

[dandxg]

Okay I'll bite as it makes reasonalbe sense, but why did they wait so long to publish something he said back in 01?

Am I missing something

 

[ElectricSavant]

It's a secret

Quote from dandxg:

Okay I'll bite as it makes reasonalbe sense, but why did they wait so long to publish something he said back in 01?

Am I missing something

 

[e_trader_pro]

Actually, the team consists of an unknowing public that feels compelled to buy stocks when they go down. These individuals are being controlled by the government through the fluoride in water. Unfortunately this has hurt the dental industry, so that is being propped up by the aliens from Area 51.

P.S. The plumber drinks milk on Tuesdays.

 

[ElectricSavant]

Art Bell claims the chem-trails are kin to this...

I consider all these things when trading and using the toilet....also when Wifey tells me too..

Quote from e_trader_pro:

Actually, the team consists of an unknowing public that feels compelled to buy stocks when they go down. These individuals are being controlled by the government through the fluoride in water. Unfortunately this has hurt the dental industry, so that is being propped up by the aliens from Area 51.

P.S. The plumber drinks milk on Tuesdays.

 

[Pabst]

Nothing new under the sun....

In 1907 the Morgan Bank successfully defended the market on the lows. In 1929 they were unsuccessful (read about Whitney's bid in U.S. Steel).

FX operations by Central Banks are executed by money center banks.

Clearly after 1987 a formal solution was needed.......

 

[Spooz Top]

there you have it ..........for all those that laughed when this issue is brought up................i remember that LTCM crisis & while heavily short.....there would be these monster buys coming in at key support levels on the OEX & S&P`s to keep the market afloat.

more good news for the bears as if this market is`nt jaded enough.

 

[dandxg]

I brings up a bigger question, maybe I should start a thread? Is a completely free market best or free market with governement regulation/intervention?

I am in favor of some intervention, but what Greenspan did was prolong the inevitable.

 

[hypostomus]

It's a fack jack there there has been unusually high large block market order activity long in NQ throughout the day for the past two weeks. I myself am happy either way, becuase the very self-same wife who last month said "Why aren't we in the market more?" now says "Why are we in the market so much?"