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According to the Collins English Dictionary 10th Edition fraud can be defined as: "deceit, trickery, sharp practice, or breach of confidence, perpetrated for profit or to gain some unfair or dishonest advantage".[1] In the broadest sense, a fraud is an intentional deception made for personal gain or to damage another individual; the related adjective is fraudulent. The specific legal definition varies by legal jurisdiction. Fraud is a crime, and also a civil law violation. Defrauding people or entities of money or valuables is a common purpose of fraud, but there have also been fraudulent "discoveries", e.g. in science, to gain prestige rather than immediate monetary gain
*As defined in Wikipedia

Sunday, April 19, 2009

Conspiracy? Is Goldman Sachs Running the Plunge Protection Team?

Editor's Note: Someone had to ask the question, and this article in the Huffington Post asks and discusses this mind boggling and frightening issue.

Conspiracy? Is Goldman Sachs Running the Plunge Protection Team?
by Eben Esterhuizen in The Huffington Post

Is the current stock market rebound based on fundamentals, or are more sinister forces at work? Tyler Durden, one of the best financial bloggers around, have found some circumstantial evidence that suggests the mysterious Plunge Protection Team (PPT) has recently been boosting the stock market. And some might say Goldman Sachs is running the show . . .

. . .

"A very interesting data point, also provided by the NYSE, implicates none other than administration darling Goldman Sachs in yet another potentially troubling development," writes Durden. "Key to note here is that Goldman's program trading principal to agency+customer facilitation ratio is a staggering 5x, which is multiples higher than both the second most active program trader and the average ratio of the NYSE, both at or below 1x."

Read the full article - Click Here


Anonymous said...

The TARP money which GS received and which they will at some point return (they say they want to return it quickly) might have been used throughout March to ramp up the market.

$10bn,say, in programmed trades would have been a lot of fire-power. Simply my opinion.

Anonymous said...

The market falls from 14,000 to 6500

can't say that the PPT did a stellar job , though others may believe so

Anonymous said...

The fdic has given Goldman sachs 22 billion of backed loans. Since when can a bank buy stock like they are without breaking fdic leverage rules?

Cheap Viagra said...

I have read a few of The Huffington Post, and I think it has a great way to show information. Their blog is pretty cool, but not as much as yours!

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