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Old 05-06-2010, 04:21 PM
 
Location: Sputnik Planitia
6,897 posts, read 9,674,076 times
Reputation: 7598

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Goldman Sachs brought the markets back from the dead...it's true, they are doing god's work
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Old 05-06-2010, 05:01 PM
 
Location: Atlanta, GA
1,194 posts, read 1,908,981 times
Reputation: 816
No bank wants to lend to another that may be too exposed to Greece, or any of the other PIIGS that are now starting to feel the default threat.[LEFT]
Read more: Behind The Scenes, European Banks Freak Out About Lending To Each Other
[/LEFT]

It's like what they talked about fall 2008, banks here and everywhere didn't want to lend to each other, though today was just EU, for now..
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Old 05-06-2010, 05:17 PM
 
Location: Business ethics is an oxymoron.
2,166 posts, read 2,600,866 times
Reputation: 4845
I suspect, but cannot prove, that your average American just couldn't care less about the EU, much less Greece.

"Greece, Shmeece. That's THERE. We're here". Wasn't that a movie starring John Travolta in the 70's"

-I suspect is most peoples attitude.

I gotta hand it to the Greek people. If there's anyone over there who's a member of the financial Plutocracy ISN'T in fear for their life right now, they should be.

The American people just no longer has the ßalls to finally stand up and say "enough is enough". At least not for now.

As long as we still have access to our stupid little shopping trips to BevMo and Bed, Bath, and Beyond as well as the latest episode of "Dancing With The Stars", we will continue to be grifted over here.

But those of you who work on Wall Street and live in the Hamptons:

Don't think you are out of the woods and in the clear just yet. Even though the demographic you are looting the most-what's left of the American Middle Class-is the one least likely to stand up to you-just keep one thing in mind. There are a lot more of us then you. Uncle Sugar and the Feds have pledged their undying support to you in the interim. That doesn't mean they'll be able to keep it under control forever. You guys may have control of the Treasury and the pixels on the screens.

We know how to grow food and fix things. Which if you get too stupid, too greedy, and too egregious, you may think you have won the "financials" war but you will have lost in the sense that you will have a hard time finding food and someone to wipe your kids äss. And forget about taking a walk out in daylight. And don't think for a second that more than a miniscule fraction of the Armed forces is going to sit by and watch the communities they grew up in and swore to protect get plundered and looted by a bunch of suits holding the country for ransom just to get that billion dollar bonus as opposed to merely the million dollar one.

We will still be able to eat.

Last edited by Des-Lab; 05-06-2010 at 05:31 PM..
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Old 05-06-2010, 05:17 PM
 
22,950 posts, read 42,022,103 times
Reputation: 23368
Thinking at this time of the day (6PM Eastern) is that a trader at Citibank unleashed a computerized sell program, but erroneously set the parameters at $16B when the trader only meant to sell $16M of securities. They "think" this is what triggered massive computerized selling, however, Citibank is denying their person is to blame.
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Old 05-06-2010, 05:22 PM
 
Location: San Diego California
6,797 posts, read 6,624,776 times
Reputation: 5180
Quote:
Originally Posted by k374 View Post
Goldman Sachs brought the markets back from the dead...it's true, they are doing god's work
I guess it is true what the bible says about false gods in the final days, be careful who you worship.
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Old 05-06-2010, 05:43 PM
 
Location: Great State of Texas
86,068 posts, read 76,616,443 times
Reputation: 27642
A financial blog called it "algorithms gone wild". I thought that mighty appropriate in this day and age of computerized trading.

Everything that happens on Wall Street is recorded. THEY will be able to tell what happened.
Whether or not they publish that so we can also know is a different story.
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Old 05-06-2010, 06:55 PM
 
21,464 posts, read 19,252,799 times
Reputation: 12078
The market has been manipulated higher so it will come back down when they screw up.
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Old 05-06-2010, 08:03 PM
 
Location: Los Angeles, Ca
2,884 posts, read 5,392,743 times
Reputation: 2747
Ultimately, the market is going to experience *much more* volatility than it did in 87. Simply because it's been so much more manipulated since then.

-The 87 market seems so tame by now.This market could go down 20-30-35% in a day, easily. Down 9% in a day, and nothing even happened? This thing is going to be gyrating up and down like crazy when we get to 5-6,000.

-I'm 31, I still see no reason to buy this market long term.
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Old 05-06-2010, 08:50 PM
 
1,820 posts, read 4,175,308 times
Reputation: 4907
What a farce the casino "market" is. Good luck validating your future livelihood on the gas station equivalent of a rigged lucky-7 nickle slot. And to think people blindly put faith in that insanity.....
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Old 05-09-2010, 10:23 AM
 
Location: Atlanta, GA
1,194 posts, read 1,908,981 times
Reputation: 816
Feds trace flash crash to Chicago - Eamon Javers - POLITICO.com
Feds trace flash crash to Chicago
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