mardi 11 novembre 2008

plunge protection team

I'm no economic expert, but this share price graph of today's DOW looks, er, a bit suspicious. A plunge until midday then a steady uninterrupted rise for the next four hours. There is a lot in the blogosphere written about the 'Plunge Protection Team', a group of shadowy politicians and financiers who manipulte the markets to protect the system and make billions for themselves. I've never really known what to think of the explanation. There is evidence out there from 'serious' sources, that it does indeed exist. This graph doesn't, at least, seem to be evidence that it doesn't.