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Economy
In reply to the discussion: Weekend Economists Ride With Sally into the Sunset July 27-29, 2012 [View all]Demeter
(85,373 posts)21. Market-Rigging and Price-Fixing By Eric Fry
http://dailyreckoning.com/market-rigging-and-price-fixing/
Markets are so rigged by policymakers that I have no meaningful insights to offer.
Thats what Nomura Internationals Investment Strategist, Bob Janjuah, griped five months ago. Since then, policymakers have stepped up their market-rigging, while new revelations of past market-rigging have also come to light.
Its starting to feel like the financial markets are all rigging and no ship.
I am simply stunned that our policymakers seem so one-dimensional, so short-termist, and so utterly bereft of courage or ideas, Janjuah remarked last February. It now seems obvious that in response to the financial crisis that has been with us for five years and counting, we are being told to double up on these same policy decisions [that have failed]. The crisis was caused by central bankers mispricing the cost of capital, which forced a misallocation of capital, driven by debt/leverage, which was ultimately exposed as a hideous asset bubble which then collapsed, destroying the lives and livelihoods of tens of millions of relatively innocent people.
When Mr. Janjuah voiced these concerns a few months back, the European Central Bank (ECB) had barely started rigging the sovereign credit markets of Europe by providing hundred-billion-euro bailouts to the central banks of Spain, Italy and others.
Read more: Market-Rigging and Price-Fixing http://dailyreckoning.com/market-rigging-and-price-fixing/#ixzz21taqAuvB
Markets are so rigged by policymakers that I have no meaningful insights to offer.
Thats what Nomura Internationals Investment Strategist, Bob Janjuah, griped five months ago. Since then, policymakers have stepped up their market-rigging, while new revelations of past market-rigging have also come to light.
Its starting to feel like the financial markets are all rigging and no ship.
I am simply stunned that our policymakers seem so one-dimensional, so short-termist, and so utterly bereft of courage or ideas, Janjuah remarked last February. It now seems obvious that in response to the financial crisis that has been with us for five years and counting, we are being told to double up on these same policy decisions [that have failed]. The crisis was caused by central bankers mispricing the cost of capital, which forced a misallocation of capital, driven by debt/leverage, which was ultimately exposed as a hideous asset bubble which then collapsed, destroying the lives and livelihoods of tens of millions of relatively innocent people.
When Mr. Janjuah voiced these concerns a few months back, the European Central Bank (ECB) had barely started rigging the sovereign credit markets of Europe by providing hundred-billion-euro bailouts to the central banks of Spain, Italy and others.
Read more: Market-Rigging and Price-Fixing http://dailyreckoning.com/market-rigging-and-price-fixing/#ixzz21taqAuvB
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Countrywide Investigator Fired for Doing Her Job While Rampant Fraud Was Concealed
Demeter
Jul 2012
#23
i did -- it was wonderful -- and i love burt lancaster... we love ya hotler -- Peace be with you
xchrom
Jul 2012
#54
But wait, Mayors now can dictate how and what we feed our babies. We are saved! n/t
kickysnana
Jul 2012
#77