Is PPT for real? How does it operate? Does anyone know? Or is it just another conspiracy theory? ???
They are real... no doubt about it the drop on tuesday would of been worse closer to the 1987 drop in terms of % decline if they hadnt stepped in and tampered with the market to stop the decline.
Nice washington post article about the PPT.
http://www.washingtonpost.com/wp-srv/business/longterm/blackm/plunge.htm
More info on the Plunge Protection Team
"Following the stock market crash in 1987, the government created something called the President's Working Group on Financial Markets. The group, which includes the Treasury secretary, Federal Reserve chairman, chairman of the Securities and Exchange Commission and chairman of the Commodity Futures Trading Commission, was formed to ensure the smooth operation of financial markets."
http://www.safehaven.com/article-721.htm
Thanks nullzero. The 2nd article tried to "prove" it didn't exist. >:D
I didnt read through the whole article for the second one I posted. Read a couple paragraphs it seemed a nice adjective anaylsis of the PPT however against the existance but it has good facts in there and questions. The first article however was what gave the name to the PPT. Knowing how much the FEDs tamper with the economy (raising and lowering interest rates and trying to guide economy with wording) it is not that hard to imagine the FED having there hand in the tampering of the stock markets.
Another article on the PPT:
http://onlinejournal.com/artman/publish/article_1811.shtml