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Italian SEC Can't Rule Out Manipulation In Bank Stock Plunge

Tyler Durden's picture




 

When unsure, blame the speculators:

  • MARKET WATCHDOG SAYS REVIEWING TODAY'S BANK DECLINES
  • CONSOB OFFICIAL: STOCKS PLUNGE IN PART DUE TO STOP-LOSS TRADES
  • CONSOB OFFICIAL CAN'T RULE OUT MANIPULATION TRIGGERED DECLINES
  • CONSOB OFFICIAL SPEAKS BY PHONE        

Alternatively they are spot on, and someone is doing their darnedest to spread the contagion finally to the last PIIGSy.

As soon as CONSOB gets off the phone and releases and actual statement we will present it.

 

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Fri, 06/24/2011 - 11:07 | 1398500 Bohemian Clubber
Bohemian Clubber's picture

haha 'stop-loss trades' from who ? the FED ?

Fri, 06/24/2011 - 11:09 | 1398507 firstdivision
firstdivision's picture

No one is allowed to sale, short, or buy puts on any financial stock.  That always instills confidence.....merp

Fri, 06/24/2011 - 11:10 | 1398508 Vinny
Vinny's picture

Wow, the Italian Sherlock has arrived. What news will they announce next? Perhaps the time for sunrise and sunset?

Fri, 06/24/2011 - 11:10 | 1398509 alien-IQ
alien-IQ's picture

while manipulation may be a possibility...yet another more likely reason might just be that people dump trucked those stocks en masse because they are overpriced insolvent pieces of shit?

just a theory...

Fri, 06/24/2011 - 11:24 | 1398569 alien-IQ
alien-IQ's picture

if all goes according to plan, by 3pm I'll be far too baked to care...and by 4pm I should have no clue what they're talking about.

Fri, 06/24/2011 - 11:51 | 1398662 fuu
fuu's picture

You have got to be shitting us.

Fri, 06/24/2011 - 11:56 | 1398679 RockyRacoon
RockyRacoon's picture

Actually, yes, he is.

 

Arthur Andersen
Fri, 06/24/2011 - 13:24 | 1398976 fuu
fuu's picture

Whew. I was afraid this was all just a flashback.

Fri, 06/24/2011 - 11:15 | 1398510 Debt Rolling
Debt Rolling's picture

The next step is forbidding by law any stock drop. 

Don't laugh: in socialist countries, there were laws forbidding people to sell capital grounded in State-owned companies. 

Fri, 06/24/2011 - 11:14 | 1398512 Eireann go Brach
Eireann go Brach's picture

So many skeptics out there these days, and to think some people still believe O'Bama was not born in Kenya!

Fri, 06/24/2011 - 11:15 | 1398515 firstdivision
firstdivision's picture

No one is allowed to sale, short, or buy puts on any financial stock.  That always instills confidence.....merp

Fri, 06/24/2011 - 11:13 | 1398526 SheepDog-One
SheepDog-One's picture

Bank stock DECLINED? This is highly suspect...has to be 'manipulation'! If it had gone way up, then obviously there was no manipulation.

Fri, 06/24/2011 - 11:16 | 1398537 Cdad
Cdad's picture

You got it, Dog.  Banks shares cannot plunge because banker bonuses are paid in options.  

I shudder to think what will happen to TIF if bank shares go any lower.  Talk about recession contagion if the retail sellers of bobbles lose their jobs.  The fate of the US hangs here in the balance.  Whatever will our nation do?

Now, Average Joe's silver coin value being plundered...that I can see.

Fri, 06/24/2011 - 11:24 | 1398553 SheepDog-One
SheepDog-One's picture

No little Blue Boxes, therefore no mistresses, therefore banksters cranky and unhappy, cats sleeping with dogs etc, etc....

Fri, 06/24/2011 - 11:13 | 1398527 Vinny
Vinny's picture

O'Bama was born in Kenya? Why does he have an Irish name then?

Fri, 06/24/2011 - 11:18 | 1398549 Eireann go Brach
Eireann go Brach's picture

Didn't you hear, he was in Ireland recently and claimed he was 8% Irish too, so he changed his last last name to O'Bama!

Fri, 06/24/2011 - 11:25 | 1398575 Vinny
Vinny's picture

Yeah, I saw that photo of him and his angry half at the pub.  Must have been a sight, because afterwards everyone was trying to flee that island. Yeah, I saw the pictures of stranded travelers too.

Fri, 06/24/2011 - 11:17 | 1398530 carbonmutant
carbonmutant's picture

Mutually Assured Deflation...

Fri, 06/24/2011 - 11:22 | 1398545 Caviar Emptor
Caviar Emptor's picture

Mutually Assured Financial Destruction

Fri, 06/24/2011 - 11:15 | 1398535 speconomist
speconomist's picture

GIPSY!

Spain before Italy!

Fri, 06/24/2011 - 11:21 | 1398542 lizzy36
lizzy36's picture

Newsflash: If its trading, it is manipulated. Oddly nobody minds when it trades higher, that is "animal spirits", when it trades lower "evil short sellers/speculators".

Ahhhh simple branding.

Fri, 06/24/2011 - 11:25 | 1398560 carbonmutant
carbonmutant's picture

 Shows you which side of the market most traders are on...

 

Fri, 06/24/2011 - 11:28 | 1398562 SheepDog-One
SheepDog-One's picture

Stocks levitate up on bad news? 'Animal spirits'. Stocks go down? In particular BANK stocks? 'EVIL spirits'!

Means banksters get smaller bonuses, banksters get cranky and throw tantrums, markets plunge to get politician puppets back in line to hand over more free money.

I believe they refer to this as 'free and unfettered markets'.

 

Fri, 06/24/2011 - 11:54 | 1398688 Protonrick
Protonrick's picture

Wait:  

Speculators drive oil prices up = evil.

Speculators drive stock prices down = evil.

Fri, 06/24/2011 - 11:17 | 1398544 Caviar Emptor
Caviar Emptor's picture

Rising flood waters in Minot, ND may flood nuclear silos.....poof? 

Fri, 06/24/2011 - 11:25 | 1398559 SheepDog-One
SheepDog-One's picture

AH yes interesting sideshow here check this out!

YouTube - WTF - Nebraska Nuclear Accident PLANNED?

Fri, 06/24/2011 - 11:30 | 1398579 Caviar Emptor
Caviar Emptor's picture

There's been a no-fly zone over Ft Calhoun for weeks. Very hushed. Only reported in offshore press. 

Fri, 06/24/2011 - 11:50 | 1398674 fuu
fuu's picture

Supposedly it is to keep news choppers from getting too clsoe because of power lines and stuff.

Fri, 06/24/2011 - 11:40 | 1398628 Cdad
Cdad's picture

So...is the video gone yet?

Fri, 06/24/2011 - 12:02 | 1398721 RockyRacoon
RockyRacoon's picture

http://www.microsimtech.com/abwr/

It's a simulation site, not what the hell IS going on.

Some reality-checking is in order.

Fri, 06/24/2011 - 11:24 | 1398558 entendance
entendance's picture

Europeans better beware mr.bean-draghi coming next to Frankfurt and bearing G.S. gifts to anyone...
http://www.entendance.com/forums/search.php?st=0&sk=t&sd=d&keywords=draghi

Fri, 06/24/2011 - 11:26 | 1398565 Dre4dwolf
Dre4dwolf's picture

Maybe people are dumping those stocks because they are worth-less? financial stocks are probably the worst investment when it comes to standards of safety, stability and the true state of these institutions.

The financial corporations are gambling money they don't have in quanitites that can only lead to self termination, who would invest in that for their future? for short term gains its a gamble, "pump and dump" is becoming the new trend.

Fri, 06/24/2011 - 11:27 | 1398567 richard in norway
richard in norway's picture

uni-credit is very exposed to Eastern European debt, most of which is denominated in Swiss franc's. so when the CHF surges the problems for eastern European borrowers get worse and the eventual problems for uni-credit intensify

 

folk keep forgetting about the former soviet bloc countries, but things are really bad there. Egypt style revolts are a distinct possibility

Fri, 06/24/2011 - 11:28 | 1398572 oogs66
oogs66's picture

+1

Fri, 06/24/2011 - 11:39 | 1398621 ivana
ivana's picture

that's why you can expect CHF to rise more and more to ridicilous levels.

Will be interesting to watch east european govs .. they will have to come up with some plan for their sheeps

Fri, 06/24/2011 - 11:53 | 1398671 Going Loco
Going Loco's picture

I believe this is true, certainly for Poland. I am receiving emails from ex. workers of mine who returned to Poland after completing a project for me in the UK and they are desperate for money. Desperate.

Fri, 06/24/2011 - 11:24 | 1398570 oogs66
oogs66's picture

but rest assured they can rule out manipulation in the case of any stock going up!

Fri, 06/24/2011 - 11:32 | 1398605 treemagnet
treemagnet's picture

PIIGS = paper tiger with tail on fire.

Fri, 06/24/2011 - 11:33 | 1398607 williambanzai7
williambanzai7's picture

Italian SEC, sounds like a movie about Mary Schapiro.

Fri, 06/24/2011 - 11:39 | 1398616 carbonmutant
carbonmutant's picture

Could you illustrate your point?...lol

Something to the tune of Best Little Whorehouse in Texas
Fri, 06/24/2011 - 11:38 | 1398612 ivana
ivana's picture

ooo yes. Italian pig is lagging and powerz don't like that

Fri, 06/24/2011 - 11:40 | 1398627 Roger Knights
Roger Knights's picture

Ragin' contagion

 

Fri, 06/24/2011 - 12:21 | 1398766 hungarianboy
hungarianboy's picture

And when things go up? Do they investigate to?

Please let the second crash coming. Just so that I can safeley buy again :-)

Fri, 06/24/2011 - 13:38 | 1398958 glenlloyd
glenlloyd's picture

.

Fri, 06/24/2011 - 13:39 | 1398965 glenlloyd
glenlloyd's picture

.

Fri, 06/24/2011 - 13:19 | 1398972 glenlloyd
glenlloyd's picture

This little PIIGSY went to market....

Fri, 06/24/2011 - 13:35 | 1399020 glenlloyd
glenlloyd's picture

.

Fri, 06/24/2011 - 16:18 | 1399640 AldoHux_IV
AldoHux_IV's picture

So stupid I don't know what to say-- oh wait I just said it.

Fri, 06/24/2011 - 18:33 | 1399974 Buck Johnson
Buck Johnson's picture

It could be speculators, but the problem is that like spain at one time Italy kept a low profile until finally the contagion got to them.

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