Plunge Protection Team in action

[nadinbrzezinski]

Facts Column
MARKET SUMMARY
US
EUROPE
ASIA
Dow 12,107.40 +367.25 +3.13%

Nasdaq 2,245.16 +75.82 +3.50%

S&P 500 1,314.31 +40.94 +3.22%

10 Yr Bond(%) 3.5960% +0.1580

And any bets as to how long this rise will last?

[A HERETIC I AM]

1. So todays rally has nothing at all to do with buyers coming back in, eh?

The Fed takes action to help liquidity, the markets react with improved confidence and buy stocks that have been bid down of late and this is the result of the "Plunge Protection Team"?

Come on.

BTW, the expression "Plunge Protection Team" is little more than a Faux News type headline penned by a copy editor at the Washington Post in 1997, according to Wikipedia

One theory regarding the Working Group refers to it as the Plunge Protection Team. This theory claims that the Working Group is a scheme to manipulate U.S. stock markets in the event of a market crash by using government funds to buy stocks, or other instruments such as stock index futures.

The term "Plunge Protection Team" was originally the headline for an article in The Washington Post by staff writer Brett D. Fromson, published on Sunday, February 23, 1997. He did not invent the term. It was added later by a copy desk editor as a sensational nickname for the Working Group.

Dow finishes up 416.66 at 12156.81. Call it what you want. "Sucker Rally", the work of the nefarious PPT or whatever.

It is a breath of fresh air.

[DemocratInSoCal]

2. Where Can I Get Some Of This FREE Money?

You know, the money which is not going to have ANY impact on inflation.

Personally, I think there's nothing to worry about, in regards to the Fed agreeing to buy up $200 BILLION in securities, No Questions Asked. I have no doubt, that when the time comes, these banks which are getting these "temporary" infusions, will have no trouble paying back the debt to the Fed.

WHERE IN THE HELL IS ALL THIS MONEY COMING FROM? I can't wait to hear the BS SPIN on that one. Care to help us all out Heretic, and explain how the Fed buying up these "SUPPOSED" AAA securites, which may in fact be CCC in reality, is a good thing? It's Not.

And I love the IDIOTS on CNBC this morning, who say that "Just In Case" they need to go further than $200 BILLION, the Fed is ready to extend this little giveaway, If necessary. What they mean to say is..."The Fed WILL EXTEND this giveaway, WHEN necessary."

I bet they were cheerleading this all the way, and saying that FINALLY, we are at the bottom. NOTHING TO SEE HERE, MOVE ALONG.

[Name removed]

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[DemocratInSoCal]

4. It's A BAILOUT, Pure & Simple

Most of this money will NEVER be repaid. It will just vanish into the ether, along with all the TRILLIONS of Debt, which the entire foundation of this country is based upon.

I'm sure that the Fed will "monitor the price and creditworthiness" of the collateral every day." Yeah, Sure.

One thing I am 100% sure of. This does absolutely NOTHING to help John Q Public. But if you're a bank in trouble, the Fed has some free money for you.

[Extend a Hand]

5. Too bad the ratings are complete B.S.

http://globaleconomicanalysis.blogspot.com/2007/09/time-to-break-up-credit-rating-cartel.html

from back in Sept:

he Associated Press is reporting Pension Fund Sues Moody's Over Ratings.

In a lawsuit filed in federal court in Manhattan, the Teamsters Local 282 Pension Trust Fund alleged the New York company's ratings of bonds backed by subprime mortgages -- including bonds packaged as collateralized debt obligations -- were materially misleading to investors concerning the quality and relative risk of those investments.

"Moreover, even as a downturn in the housing market caused rising delinquencies of the subprime mortgages underlying such bonds, Moody's maintained its excessively high ratings, rather than downgrade the bonds to reflect the true risk of owning subprime-mortgage-backed debt instruments," the lawsuit says.

The lawsuit is seeking class-action status for all purchasers of Moody's shares from Oct. 25, 2006, to July 10, 2007.

Do you really think the AAA ratings are worth anything??

[SlowDownFast]

9. THAT is the real truth of this story

on almost every financial level.

It's manipulation and non-transparency.

It's called Hide The Shit Sandwich.

[Name removed]

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[nadinbrzezinski]

7. There is some research on it

and by the way... you do know the FUNDAMENTALS, since you want to use language you understand, are NOT SOUND.

Sorry if you can't get it... but yes, the FUNDAMENTALS of this economy are NOT sound

Lets start with the Federal Debt and go down the line, shall we?

Pollyana... what can I say?

[Name removed]

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[nadinbrzezinski]

10. LOL

Perhaps the post on how the economy is now in recession might attract his attention