Comment of the day
Consider the following two propositions:
1) Government policy responds to short-term stock market movements.
2) Goldman Sachs has the power to control short-term stock market movements.
Does the available evidence suggest that either of these are certainly — or even very likely — false?
Don't think of the DJIA as an index, then. Think of it as the knob that the banksters can turn up to 11, or down to 0. If they want.
Personally, I've always thought LIBOR was manipulated, at least during the Lehman crisis. Why not? Control information, control results.