Saturday, May 08, 2010

Demonizing Wall Street, then a big Dow drop...coincidence?


Demonizing Wall Street, then a big Dow drop...coincidence?: "Somewhere – wherever his eternal home is – Dick Nixon is smiling today. He pulled a lot of shady, underhanded, illegal stuff in his life. But he’s potentially giving the Commander in Chief props today."

On Thursday, the New York Stock Exchange was brought to its knees by what many reports are saying was “one stray trade” or “one mistakenly stroked key” on a keyboard. Investigators are trying to find the singular cause of the problem that caused the largest point swing in the history of investments.

On Thursday afternoon, CNBC’s Money Honey, Maria Bartiromo, said, “I mean this really sounds like market manipulation to me. This is outrageous.” Her comments weren’t made to colleagues off the record; they were said on the network, in the midst of the meltdown.

Ironically enough, Obama’s financial reform measure languishing in Congress may actually have received a huge shot in the arm by this horrifying result. What an amazing coincidence. Hmmm.

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