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As Bangladesh Stock Market Plunges Again, Local Investors Riot For Second Time In A Month

Tyler Durden's picture


If there is anyone watching this video of what happens to a banana republic when its ponzi stock market plunges, it is Ben Bernanke. The Princeton-educated depression era expert is certainly learning from the mistakes of the Bangladesh stock exchange (flash crashing 9.25% at last check before being halted), which despite US investment bank pitches to the contrary, never instituted its own plunge (and subsequent riot) protection team. And this is despite an identical situtation happening just three weeks earlier. Take home message: every ponzi scheme-based banana republic needs its own President's Working Group on Flash Crash prevention.



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Mon, 01/10/2011 - 15:09 | 864459 HamyWanger
HamyWanger's picture

These people should buy our stock market instead of theirs.

Mon, 01/10/2011 - 15:17 | 864515 Arius
Arius's picture

no, they should just hold and be patient - in time, all stocks go up

Tue, 01/11/2011 - 02:34 | 866492 cruxx
cruxx's picture

No, they should buy the dip there.

Mon, 01/10/2011 - 15:29 | 864569 Cognitive Dissonance
Cognitive Dissonance's picture


Just move APPL to their exchange. Problem solved.

Mon, 01/10/2011 - 16:09 | 864761 Clark_Griswold ...
Clark_Griswold Hedge Mnger's picture

Hey do we have a Flash Crash Czar yet???????

Mon, 01/10/2011 - 16:35 | 864890 tmosley
tmosley's picture

Ben Bernanke?

Mon, 01/10/2011 - 16:45 | 864928 Sudden Debt
Sudden Debt's picture


Mon, 01/10/2011 - 15:43 | 864629 malikai
malikai's picture

I wanna buy the dip. Is there an ETF for that?

Mon, 01/10/2011 - 16:16 | 864796 RockyRacoon
RockyRacoon's picture

ETFs are bought by dips, not on dips.

Mon, 01/10/2011 - 16:55 | 864969 Sudden Debt
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Mon, 01/10/2011 - 21:59 | 865938 StychoKiller
StychoKiller's picture

"Bio-organic!"  WTF does that even mean??

Mon, 01/10/2011 - 15:40 | 864640 jus_lite_reading
jus_lite_reading's picture

It's Banglacrash!

More to come... just wait until BofA accounts dry up.

Mon, 01/10/2011 - 15:47 | 864668 SheepDog-One
SheepDog-One's picture

Stocks never go down, Hamy.

Mon, 01/10/2011 - 18:39 | 865362 ElvisDog
ElvisDog's picture

HamyWanger is the funniest one yet. I think I pulled my HamyWanger. Honestly, those protesters don't seem very energetic. Was it hot in Bangladesh today?

Mon, 01/10/2011 - 23:29 | 866164 tekhneek
tekhneek's picture

Yeah -- fuckin' lazy-ass protesters.

Mon, 01/10/2011 - 15:09 | 864461 buzzsaw99
buzzsaw99's picture

bang dae ho

Mon, 01/10/2011 - 15:46 | 864661 hedgeless_horseman
hedgeless_horseman's picture

Bang dae white car.

Mon, 01/10/2011 - 16:26 | 864851 Horatio Beanblower
Horatio Beanblower's picture


Mon, 01/10/2011 - 15:10 | 864463 knukles
knukles's picture

A Flash Crash Bash!

Mon, 01/10/2011 - 15:13 | 864486 Cognitive Dissonance
Cognitive Dissonance's picture

Party hearty boys. The good news is that as your economy crumbles, other will follow. Which means you will soon be well on the road to recovery from fiat insanity long before much of the rest of the world even recognizes they are in deep do-do.

We must all scrub the wounds clean of the fiat infection before the healing begins. It doesn't take violence.......but that's what we are trained from birth to do.

Mon, 01/10/2011 - 16:17 | 864806 RockyRacoon
RockyRacoon's picture

You're saying this is the economic equivalent of the Arch Duke?

Mon, 01/10/2011 - 15:14 | 864493 AZSovreign
AZSovreign's picture

Now imagine if they had guns, instead of sticks.


coming soon to a theater near you..

Mon, 01/10/2011 - 15:15 | 864505 buzzsaw99
buzzsaw99's picture

No it isn't. We have crash proof markets.

Mon, 01/10/2011 - 15:24 | 864561 nonclaim
nonclaim's picture

Make it crash *poof* ... they just make it disappear by voiding any trades below the riot level.

Mon, 01/10/2011 - 15:25 | 864564 b_thunder
b_thunder's picture

no, coming to a certain TV studios in Englewood Cliffs, NJ


Mon, 01/10/2011 - 15:54 | 864696 pointer
pointer's picture

imagine if the students at Tiananmen Square had guns...the only way the US will get out of hand, in my opinion, is if food and water become scarce.  Other than that the majority will continue to pop xanax and vicodin - while playing Wii or Xbox all day - and live in a world of sorrow as if they can do nothing about it - thinking that's just the way life is.

The most powerful weapon against the whole establishment and corruption is education - for their power resides in the masses believing they are not to be questioned, and whatever is on TV is the truth - why do you think there are so many TV shows and movies about cops - showing people getting arrested - newspapers talking about someone going to jail for 30 years who didn't pay taxes - ALL propaganda - all good vs. evil...It's your choice to go along with it, but most don't understand that choice.  I pay my taxes, FYI...their propaganda works for the time being:)

Mon, 01/10/2011 - 16:53 | 864964 minus dog
minus dog's picture

The sad part of this is that many of those who actually have the balls to fight and want to do something more important than sit on their asses and play xbox all day, end up joining the military/law enforcement and spend most of their lives directing their anger at "lawbreakers" without giving much thought to how fucked up the laws are.  That's starting to change, but I swear sometimes it's like waiting for paint to dry.

Mon, 01/10/2011 - 16:58 | 864979 knukles
knukles's picture

Like the History, History International and Nat Geo having the cop, swat, border and war/battle Af-Pak reality shows. 
Next, HGTV giveaway will redocrate holding sells and F-ug-ema camp playgrounds.

Yup.  Just a tidge obvious.

Mon, 01/10/2011 - 18:18 | 865277 pods
pods's picture

Actually the propaganda part of all the TV cops shows is that the cops just have to bend the rules a bit, because of how bad the crime was, who the victim was, etc.

You end up empathizing with the cops, who are really trying to protect you, and just have to break the rules to catch the bad guy.

Turn on any Law and Order episode.  The rules are bent because they have to be.

That is the propaganda part of it.


Mon, 01/10/2011 - 22:01 | 865942 StychoKiller
StychoKiller's picture

Check out "Obedience to Authority" by Stanley Milgram.

Mon, 01/10/2011 - 15:21 | 864499 hedgeless_horseman
hedgeless_horseman's picture

Anyone know how to say, "bidless," in their language?

Mon, 01/10/2011 - 15:28 | 864580 Cognitive Dissonance
Cognitive Dissonance's picture

In America, if you're "in da bidness" (aka the PONZI brotherhood) there is no such thing as "bidless".

Mon, 01/10/2011 - 15:15 | 864503 TooBearish
TooBearish's picture

TImmy and Ben will provide outsourced PPT services to any banana republic as needed...

Mon, 01/10/2011 - 15:16 | 864506 LFMayor
LFMayor's picture

So did someone blow their whole $6.00 of national treasury on a male enhancement pill scam?

C.D. does have a point... they sure as hell don't have far to fall.

Mon, 01/10/2011 - 15:16 | 864507 Silverhog
Silverhog's picture

The Trade house looks like a taco stand. Hard to believe all these people had money in the market. Surprised no goats were injured.

Mon, 01/10/2011 - 15:19 | 864528 HamyWanger
HamyWanger's picture

You are a fucking racist moron. Shame on you

Mon, 01/10/2011 - 15:24 | 864556 Arius
Arius's picture

Hamy - forgive him for being stupid (not his fault)...he doesn't get the point...

Mon, 01/10/2011 - 17:48 | 865165 Calmyourself
Calmyourself's picture

What was racist in that post?  The comment on their construction methods?  Racism I thought was having a preconceived notion of someones character or reactions based upon national origin or skin color.. Mentioning construction type or quality is racist, was it the goat?  I have owned goats am I a particular color or possessing a certain attitude as a result of the goat ownership?

Tue, 01/11/2011 - 01:54 | 866452 Freddie
Freddie's picture

Bangladesh is hell on earth but still nicer than Detroit.  Go to hell Hairy Wanker.

Mon, 01/10/2011 - 16:10 | 864770 Dr. Porkchop
Dr. Porkchop's picture

Goats are tangible assets worth more than the stocks!

Mon, 01/10/2011 - 16:28 | 864859 centerline
centerline's picture

One can eat goats!

Mon, 01/10/2011 - 17:02 | 864990 knukles
knukles's picture

Nor can one eat or fuck with gold.  Well, unless you're Blythe....

Mon, 01/10/2011 - 22:03 | 865946 StychoKiller
StychoKiller's picture

How rude!  Good on ya! :>D

Mon, 01/10/2011 - 17:13 | 865032 Freddie
Freddie's picture

The trade house look like taco stand?!  You got it dear boy!  Their stock exchange needs Chipolte and possibly PriceLine.  Those stocks only go up.  

Mon, 01/10/2011 - 15:21 | 864539 Miramanee
Miramanee's picture

Did someone say....banana republic???

Mon, 01/10/2011 - 15:22 | 864546 fiftybagger
fiftybagger's picture

Coming to a country near you.  Got silver?

Mon, 01/10/2011 - 15:49 | 864678 SheepDog-One
SheepDog-One's picture

Yes...well Silvertip ammo by the case, does that count?

Mon, 01/10/2011 - 15:26 | 864568 TideFighter
TideFighter's picture

They actually answered that letter from Nigeria.

Mon, 01/10/2011 - 15:31 | 864594 Cognitive Dissonance
Cognitive Dissonance's picture

Thank (any) God I'm not the only one.

Mon, 01/10/2011 - 17:50 | 865173 Calmyourself
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That's good!!  I got another one today in fact, told him to blow me...

Mon, 01/10/2011 - 15:35 | 864619 HarryWanger
HarryWanger's picture

Really?? You're comparing Bangladesh with the United States?? I understand your frustration with the market continually going higher and the economy definitely getting stronger but to compare the U.S. with Bangladesh is rather silly, don't ya think?

Mon, 01/10/2011 - 15:40 | 864638 Tyler Durden
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You are spot on. Our apologies to any Bangladeshi readers who are insulted by the comparison.

Mon, 01/10/2011 - 15:41 | 864644 jus_lite_reading
jus_lite_reading's picture

That makes two TD. We should be so lucky at this point in the game.


Mon, 01/10/2011 - 15:49 | 864674 HarryWanger
HarryWanger's picture

Okay, I have to admit, that made me laugh. Nice comeback.

Mon, 01/10/2011 - 15:50 | 864679 buzzsaw99
buzzsaw99's picture

Two different casinos altogether, one honest, the other in nyc. lulz

Mon, 01/10/2011 - 15:52 | 864691 Cognitive Dissonance
Cognitive Dissonance's picture

Game, Set and Match to Tyler.

Mon, 01/10/2011 - 15:52 | 864692 DaveyJones
DaveyJones's picture

the fraud is so much smaller over there

Mon, 01/10/2011 - 19:48 | 865565 Hephasteus
Hephasteus's picture

But like all fraud. It's constantly growing as it instituionalizes and replaces old trusted components of itself with new fraudulant machinations.

Mon, 01/10/2011 - 23:09 | 866105 dark pools of soros
dark pools of soros's picture

i guess they didnt learn to stage some 'event' that shows a 20% crash was GOOD and saved it from being an 80% crash

Mon, 01/10/2011 - 15:36 | 864623 Caviar Emptor
Caviar Emptor's picture

So that makes two Asia market crashes in a day: Indonesia melting down along with a slower melt in several others. Yup. Serving up meatballs with Ponzi sauce.

Mon, 01/10/2011 - 15:38 | 864631 knukles
knukles's picture

Good thing their Central Bank is relatively inaccessible, located at the far end of Companionway A at the Bangalore International Dhow Terminal with the big faded "Cambio/Exchange" sign.

Mon, 01/10/2011 - 15:39 | 864634 Gimp
Gimp's picture

Just a group of young men having a good time.

Video tells you one thing, don't be the only person in the country to own a white car!

Mon, 01/10/2011 - 15:42 | 864645 malikai
malikai's picture


Mon, 01/10/2011 - 15:42 | 864646 ptoemmes
ptoemmes's picture

Did anyone else catch a glimpse of walstreetpro2 wailing on that car?

I wonderered what happened to that guy.


Mon, 01/10/2011 - 15:42 | 864647 slaughterer
slaughterer's picture

Its ok, all those angry Bangladeshi shareholders can work in the periphery EU countries as guest workers to make up their losses.  They will make a fine addition to Lisbon"s sanitation crew, or Dublin's street sweeping squad.

Mon, 01/10/2011 - 15:43 | 864648 Sabibaby
Sabibaby's picture

People of The Republic of Banana must not know anything about investing. They probably don't have ECON101 classes - suckers!

Mon, 01/10/2011 - 15:51 | 864687 Commander Cody
Commander Cody's picture

Investing?  Please, that's so...whatever.

Mon, 01/10/2011 - 15:46 | 864662 The Axe
The Axe's picture

And if no I GIVES A RATS ASS ABOUT EUROPE...Who is going to care about Bangladesh...please...list NFLX over there and AAPl and Vanguard will create a fucking ETF that will out-perform the S&P...

Mon, 01/10/2011 - 15:49 | 864673 entendance
entendance's picture

<When the many behave like sheep, the poodles themselves turn into lions. If the sheep, in their sheepishness, create lions, they are responsible of the existence of lions.>

January 9, 2011 by Patrice Ayme

Mon, 01/10/2011 - 15:50 | 864680 erik
erik's picture

"I've lost my capital here... I didn't have any job... I borrowed taka 300,000 (US$4285) from my relatives and invested... two thirds of the capital has gone... I've become a pauper... how can I repay the loan?" lamented an investor, Abdur Rahim.

this is why bubbles are dangerous, and we need real leaders who can actually spot a bubble (not Bernanke).  when you wrap in common folk who have no knowledge of the markets, and they lose big after a bubble bursts, you will get all the outpourings of anger and protest, which should've been avoided in the first place.

it is this man's fault he lost the money, but it is also the fault of our bubble-inducing financial sector and governments.

only a fool would say something like this can't happen in America.

Mon, 01/10/2011 - 15:58 | 864710 erik
erik's picture

the number of retail investors has increased from around 500,000 in 2007 to around 3.5m today. These 3m new investors have only really known a bull market and are barely aware of the near 80 per cent correction in Bangladesh stocks during the 1996/7 crash.

i wonder if the number of speculators in the US and Europe has grown in-kind with those in places like Bangladesh.  it'll be interesting to see what happens when they re-open the market again.  see if they get a J. Piermont Morgan to step in and buy heavily to try to soothe investors.

Mon, 01/10/2011 - 16:07 | 864744 Arius
Arius's picture

i woudnt bet on that.  fool me once...

Mon, 01/10/2011 - 15:51 | 864682 SDRII
SDRII's picture

Let's just hope they settled the imf gold buy pre plunge

Mon, 01/10/2011 - 17:54 | 865184 Calmyourself
Calmyourself's picture

I forgot that, how much did they buy again??

Mon, 01/10/2011 - 15:51 | 864686 RobotTrader
RobotTrader's picture

If The Ben Bernank is in fact watching with keen interest...

It is pretty much a "dead lock" that he'll never let the NYSE crash again.

POMO's forever....

Mon, 01/10/2011 - 15:55 | 864698 DaveyJones
DaveyJones's picture

until he can't

Mon, 01/10/2011 - 16:01 | 864721 Hephasteus
Hephasteus's picture

The problem is he's creating something that people are refusing. Not just politely refusing. The hard cold mean kind of refusing. You know. Like how your dates end.

Mon, 01/10/2011 - 16:11 | 864767 Caviar Emptor
Caviar Emptor's picture

Trouble is: every time he needs to reach deep into the taxpayer pocket to bail out the banks (err market, same difference), the cost keeps rising. How? It stokes biflation in the US. Incomes, assets and employment will continue to deflate. Yet cost of living and business inputs will continue to rise like devil's food cake. Yum! 

So we don;t need to have killer inflation in the US to get the same result as killer inflation: because if everything you earn and own drops moderately while cost of living rises moderately, it's just as bad. Yep, water will seek a level. And I think you're missing a key point that could blindside the whole thing...

Mon, 01/10/2011 - 16:13 | 864784 HarryWanger
HarryWanger's picture

Robo: As I said the other day, keep throwing money into AAPL. I can't think of a safer investment in my lifetime actually. 

The other day you recommended avoiding it thinking it was "overextended". I think just the opposite. With new product coming out and everyone wanting a shiny new Apple iGadget, it will continue to slowly but surely rise. 

Yes, you can play the speculative high flyers but AAPL is a once in a lifetime stock - there is no end in sight to the dominance they have in wireless gadgetry and the pie grows larger and larger.

Mon, 01/10/2011 - 16:33 | 864883 in-Credible Banker
in-Credible Banker's picture

Dunno who you are Harry but I think you got this one right.  Even AFTER the holidays my local Apple store is teeming.  And - I am long AAPL so I actually pay attention and ASK the help - are people actually buying stuff?  Yes - in amazing quantity!



Mon, 01/10/2011 - 16:45 | 864925 Hephasteus
Hephasteus's picture

Just don't show video of the teeming and swarming to foxconn employees. They could commit suicide even though everybody over there keeps telling them how damned and fucked they'll be if they do.

Mon, 01/10/2011 - 16:42 | 864920 onlymyopinion
onlymyopinion's picture

Under the new normal didn't the market crash this morning?(Dow off 90).   LOL.  I don't expect any significant pullback (20%ish) until the Dow & SnP are at all time highs which IMO, should happen within the next 18-24 months. 

Mon, 01/10/2011 - 15:57 | 864706 Milton Waddams
Milton Waddams's picture

Bangladesh, please take two of these POMO pills and call me in the morning.

Mon, 01/10/2011 - 16:17 | 864804 Overpowered By Funk
Overpowered By Funk's picture

I could use a Pomoselzer.

Mon, 01/10/2011 - 16:12 | 864778 Ferg .
Ferg .'s picture

I feel sorry for those who have seen their accounts wiped by these two crashes but really , I'm not sure they have much justification for protesting , let alone rioting .

 It's up to any investor to research not just an asset but also the market environment in which that asset trades . Trading is inherently risky , especially in the current climate . If you're not prepared to tolerate risk then you shouldn't be investing capital . And if you haven't studied market conditions and comprehended that there is the potential for extreme volatility then you certainly shouldn't be investing capital . Trading 101 : never risk money you can't afford to lose . You'd really have to question the suitability of equity investment for the vast majority of people in a country like Bangladesh .

Regardless , you can't go on a rampage when things don't go your way .

Mon, 01/10/2011 - 16:12 | 864781 Ferg .
Ferg .'s picture

I feel sorry for those who have seen their accounts wiped by these two crashes but really , I'm not sure they have much justification for protesting , let alone rioting .

 It's up to any investor to research not just an asset but also the market environment in which that asset trades . Trading is inherently risky , especially in the current climate . If you're not prepared to tolerate risk then you shouldn't be investing capital . And if you haven't studied market conditions and comprehended that there is the potential for extreme volatility then you certainly shouldn't be investing capital . Trading 101 : never risk money you can't afford to lose . You'd really have to question the suitability of equity investment for the vast majority of people in a country like Bangladesh .

Regardless , you can't go on a rampage when things don't go your way .

Mon, 01/10/2011 - 16:24 | 864843 RockyRacoon
RockyRacoon's picture

Regardless , you can't go on a rampage when things don't go your way .

You hang on to that thought.  What you think can't happen is happening.

Mon, 01/10/2011 - 16:28 | 864862 Ferg .
Ferg .'s picture

Correction .  You shouldn't , go on a rampage .

Mon, 01/10/2011 - 16:51 | 864938 Hephasteus
Hephasteus's picture

Guru meditation dupe.

Mon, 01/10/2011 - 16:50 | 864953 Hephasteus
Hephasteus's picture

Correction. People have invested in this place under a guise that it was for something it isn't. They have put energy into it and not gotten what was promised to them. If you think sinkholes and floods are a rampage. You really don't want to stick around for the next 2 years. Shits gonna get wrecked.

Wouldn't slipped in the shower, shouldn't is slashing it's wrists under the football bleachers. Couldn't is stretching so he doesn't pull a hamstring while rampaging.

Mon, 01/10/2011 - 17:01 | 864987 minus dog
minus dog's picture

"Regardless , you can't go on a rampage when things don't go your way ."

Correction.  You can't go on a rampage if there is someone to stop you from going on a rampage.  Otherwise... you can rampage all you want, and there's fuckall anyone can do about it.

Don't confuse what you think should happen with what can happen.

Mon, 01/10/2011 - 17:58 | 865205 DaBernank
DaBernank's picture

Can I go on a rampage when a suitcase full of $100 FRNs buys a box of pasta? Sorry, MAY I please go on a rampage?!?

Mon, 01/10/2011 - 23:13 | 866118 dark pools of soros
dark pools of soros's picture

just make sure to boil your water before makin that pasta

Mon, 01/10/2011 - 16:16 | 864789 Convolved Man
Convolved Man's picture

Hey!  Who unplugged Goldman's momo quant HFT computer to plug in this hotplate?

Mon, 01/10/2011 - 16:17 | 864803 Hannibal
Hannibal's picture

Game over?

Mon, 01/10/2011 - 16:18 | 864805 buzzsaw99
buzzsaw99's picture

Dear bangy losers:


Send your bangin' stocks to the ben bernank, care of the usfed and he will reimburse your losses if you can prove that you are JPMorgueman in drag. or the squid, or warren buffett, or tbtf, or a euro hedge fund. oh, never mind, you're hosed. bang dae hoe

Mon, 01/10/2011 - 16:24 | 864835 gwar5
gwar5's picture

How many times can it plunge before they've burned everything?

Yes, we have no bananas either.

Mon, 01/10/2011 - 16:24 | 864841 onlymyopinion
onlymyopinion's picture

This should be filed under "things you won't see on the NYSE".  LOL.  Gotta love the smell of POMO on this find and dandy Monday!  Just ticked I wasn't around this AM to add to my longs.  I think Nasdaq 3000 is gonna look nice later this year. 

Mon, 01/10/2011 - 16:29 | 864864 What_Me_Worry
What_Me_Worry's picture

I bet the same thing almost happened in NO when the Saints couldn't even take the money-line.

It's all gambling.  Casinos, sports books, stock exchanges.  The only sure investment in life is to take the Lions not to have a winning season.

It is funny that they are rioting.  What do they expect to happen?  Bangladeshi Ben to fly over them in the choppa?

Mon, 01/10/2011 - 19:05 | 865445 Gimp
Gimp's picture

Sucks when you realize your just another pawn in a giant ponzi.

Mon, 01/10/2011 - 19:22 | 865494 no life
no life's picture

They bought the dip.. it just wasn't the right one.

Mon, 01/10/2011 - 20:59 | 865767 wawawiwaa
wawawiwaa's picture

OH... yeah Bangladesh... super important... What is the market cap of the entire market? The first 2 seconds that trades of msft the entire day... Seriously people.. how many of us can point to it on a map!!!!!!!!!!

Mon, 01/10/2011 - 22:13 | 865976 StychoKiller
StychoKiller's picture

Bangladesh:  What is the Indus river delta?  I'll take World Geography for $800.

Your point, while valid, seems a tad inhumane.

Mon, 01/10/2011 - 22:28 | 866012 John_Coltrane
John_Coltrane's picture

Hey, if they're rioting over a drop in the stock market wait until they discover most of their country is at or below sea level thus re-defining the meaning of underwater  seafront property.  Ha Ha, as Nelson might say!

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