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Reuters: Goldman And SEC Have Not Reached A Settlement
The rumor that pushed the Dow up 200 points from the lows, was, as we expected, completely false and just a pretext to ramp the market into Opex. Of course, the SEC will never investigate into who actually leaked the rumor as the SEC's very existence is contingent on the continuation of that particular ponzi.
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Oh they HAVEN'T reached settlement? Ok this is a win for the bulls, we'll push the market higher anyway.
Put on Dow 10,000 hat, then take it off. Over and over. Now I'm getting confused and weary. I think we'll soon approach a baker's dozen on the PPT's 10,000 over/under crossover so far this year.
this may be a bit of 'nasty', but put vaseline around the rim, it prevents head chaffing. believe me, you will thank me with a gold coin.
The SEC does not care about rumors, they IN FACT know about the Cramer video concerning his market manipulation via rumor and is he in jail? Nope.
Keep the fake market pumped is all they care about. Only when things go down does the SEC care, and even then they will just cancel all downward pressure trades to keep the market pumped up.
A rumor at opex no less. What a surprise.
So all is NOT WELL in Fantasia?
Is this then a double false rumor?
Don't two negatives equal a positive?
The only surprise here as far as I see it is if GS and the SEC HADN'T reached some sort of "agreement."
it's a good thing GS kept a few hostages - dance Barney - dance!
anyone who isn't shorting into this gift is a moron
Right...and than Ben comes out over the weekend with QE and Obama nationalizes the stock market. The selling of any asset becomes illegal and subjects you to treason.
Seriously, this is the type of shit happening right now. No point playing in a rigged game where the rules change daily to benefit 5 execs at GS.
Amazing how long Bernanke is going with 0% rates going on 18 months. I think they are waiting for the economic data to worsen so they have an excuse to continue for another 2 years.
Sure but its a slippery slope once you start increasing rates. You don't want to hinder any growth (albeit weak) thats started to shore up the economy.
Just like Japan, March 2013 Fed says can keep rates low. March 2015 Fed says low rates are helping the stalled recovery from 2009.
March 2020, Fed pledges to keep rates low till the end of time.
Word on the Street: GS offered large blocks of porn to the SEC, as a deal sweetener, but the SEC wanted a co-located porn server farm optioned with the latest in remote control Lovebot technology from Japan.
Lloyd said no, go fuck yourselves, and the SEC said, that's exactly our point, our manual systems need updating.
Damn, Lloyd had better check himself for bugs...
Ritholtz appears to be endorsing the Financial Reform bill
http://www.ritholtz.com/blog/2010/05/56181/
The SEC and Goldman probably wanted to test the market so to speak. Would there be an outraged response at the behind doors deal?
Not at all. Expect a deal behind closed doors next week :-)
It should be very clear from the events of the last 2 years that WS prospers best when there is general misery,unemployment and declining wages. That is by far the most profitable environment - because then the Fed has ample excuses to hand out all kinds of goodies to WS - and keep rates at zero for the biggestbanks.
A recovery would be bad news for WS.
very true, their bottom line would be reversed by the lack of "God's" stimulus.
Yeah...
WhyTF is ThaSquid STILL getting free $$$ from tha GDMFCSTBSOB BB????
WSJ is attributing market recovery to financial investors cheering for the sugar-coated "financial reform" bill.
which if true, goes to show just how terribly punishing that finreg really is. Its obviously upset the markets greatly!
You have to give them credit for political theater. All the bitching an moaning about how this tattered remnant of a reform bill would cause irreparable harm to financial markets, rhubarb, rhubarb ... a great show providing cover for the politicians orchestrating this farce.
That was the whole point about the timing of the Bloomberg/Goldman rumour about the SEC settlement. Spike the market so the White House could claim that the Financial Reform bill had brought stability to the markets.
Yes of course - the weaker the reforms the better for WS. I think the only hope of ever reigning in WS is hope China or Germany decide to take the lead in regulating global finance - its not gonna happen here.
Remember the Osama Binlauden has been captured or killed rumors in 2001-2003 like clock work every Friday to goose the market. I knew they would think of something today. This Goldman settlement rumor may only work once, they must think of something else. Trouble is what, what new rumor will cause a massive short cover rally.
How about:
"Silver dollar found in Fed couch cushions! Kohn says, 'Under current fractional reserve standards, Fed balance sheet is set to add $1 trillion in swap and MBS assets.'"
(picture of silver dollar will be released shortly)
That should be good for 20 handles easy.
Still sell the rally.
ok zh community - purely as a response study - lets begin a rumour that sends the market crashing and lets see if the SEC investigates THAT!! huh, what about dem apples???
Phew! I'm glad this whole thing is over. I've been waiting for a buying opportunity! To the moon! Finally it's time to go buy and hold AIG, FNM, FRM, and C. Thank god for the great advice of the commentators on CNBC and the wonderful staff at the Treasury and the Federal reserve for really sticking their necks out. Patriots all around! My 401k and local 231 [hostage takers] labor union thank you!
126pts on the Dow is how you sell Sen. Dudd's Financial Overhaul Bill.