[mattduke]

There was a time when you were considered a kook for talking about "the working group."

http://www.treas.gov/press/releases/hp1177.htm

[r101958]

My guess is this was released right around the time of the rally today. This and copious buy orders.

[Duende]

I'm glad to see a post on this. I've got to know how much swing The Working Group on Financial Markets (colloquially the Plunge Protection Team) has on the Dow.

Because there's no freakin' way the Dow can swing 806 points down and recover 500 points before the bell??!!

I couldn't believe it. I call shenanigans!

It's funny - if you look it up on wikipedia, it says:

Former Federal Reserve Board member Robert Heller, in the Wall Street Journal, opined that "Instead of flooding the entire economy with liquidity, and thereby increasing the danger of inflation, the Fed could support the stock market directly by buying market averages in the futures market, thereby stabilizing the market as a whole." His statement has been used to claim that the Fed actually did act in that way. Mainstream analysts call those claims a conspiracy theory, explaining that such claims are simplistic and unworkable.

Is this a conspiracy theory? Maybe. But after the performance today, I'd say it's certainly possible.

[RdSnt]

Buying the market wouldn't actually do anything but perhaps calm a panic on a daily basis. It would provide no money to the banks, thus wouldn't free any funds for lending. Plus, since the big trouble paper are things like the CDO's, which are not on the market, it would alleviate that problem either.
Let's face it, the maneuvering that is occurring is simply delaying and denial tactics. The amount of debt and obligations that are needing redemption is too large for the entire world economy to fix.

[mattduke]

As if we didn't know already. What are they going to do next, leave a bloody horses head in our bed?

[Duende]

RdSnt wrote:

Buying the market wouldn't actually do anything but perhaps calm a panic on a daily basis.

Then they can just do it day after day after day after day...

See, no more problem

[RdSnt]

D'oh!! How could I have missed that. They are friggin' geniousesessss.

RdSnt wrote:

Buying the market wouldn't actually do anything but perhaps calm a panic on a daily basis.

Then they can just do it day after day after day after day...

See, no more problem