14 Responses to Guess who is driving the stock market up?

1. greenharper September 19th, 2009 at 4:08 pm «

   Thanks very much for this! Hasn’t Goldman Sachs, or at least its computers, been doing very well at this type of trading?

   I’d wondered what the asserted justification could be for an exchange to allow it. Had not heard that it’s supposedly in order to provide liquidity.
2. ubetchaiam September 19th, 2009 at 5:02 pm «

   “Hasn’t Goldman Sachs, or at least its computers, been doing very well at this type of trading? ” ; yes.
3. ubetchaiam September 19th, 2009 at 5:05 pm «

   IMF takes up gold sales to expand lending

   Guess who the short sellers have been during this latest rally in gold?
4. Hugh September 19th, 2009 at 8:28 pm «

   Yes, Goldman has been making a killing jerking around stock markets via flash trading, its huddles, and using its position as a Special Liquidity Provider. The sad joke is that those stocks represent bankrupt concerns and only a fool would hold them as an investment. Of course most of Goldman’s profits still come from its manipulation of the price of oil, keeping it twice what it should be.
5. ART45 September 20th, 2009 at 6:39 am «

   I don’t mind Goldman’s blowing hot air into Citi and B of A stocks.

   So long as no person or charity I care about is suckered into the game, which is just a simple pyramid scheme.
• Rayne September 20th, 2009 at 9:14 am «

  Ever taken a look at the composition of some of the most widely held mutual funds?

  Most of them have some exposure to these churned stocks. Here’s just a couple of the top 10 largest and most widely held:

  American Funds Growth Fund of Amer A (AGTHX), $61 B — BAC is one of its top 25 holdings.

  Vanguard 500 Index Investor (VFINX), $45 B — ditto, BAC in top 25.

  The balance of the top 10 have other banking stocks in their top 25 holdings, like Wells Fargo. You can bet Wells Fargo has exposure to the four stocks cited in this post.

  Almost anybody invested in the stock market who own stocks or mutual funds has a varying degree of exposure to these same four stocks. Ditto for any charity with enough money on hand which needs management for long-term yield; they are exposed.

  But this is why the ‘wingers are wrong about the privatization of Social Security. The game’s rigged already, and they don’t need to rig our social safety net, too.
• ART45 September 20th, 2009 at 10:20 am «

  Thanks. My view was too simple.
6. tinman1967 September 20th, 2009 at 9:28 am «

   Part of the reason the market is going up is the dollar is tanking. The dollar index is just a hair over 76. It’s down something like 12-15% over the past nine months.
   When the value of the dollar goes down the price of everything goes up…be it gold, groceries or stocks even.
7. tinman1967 September 20th, 2009 at 9:30 am «

   Obama just announced he was ready to regulate Wall Street.
   No rush, Barack!
8. WheresMyParty September 20th, 2009 at 9:40 am «

   Years ago, conglomerates were broken up! Ah, the good ol’ days. Those old enough to remember a Company named ITT, back in the 1970’s, are all too familiar with that word “Conglomerate”; as ITT took over the world – literally.

   Back then, ITT was finally broken up.

   But break-ups are a “Not Anymore” syndrome. They are urged to make more and more Conglomerates instead.

   One only has to go to their television set and see how few networks, real networks, that broadcast the news. Flip a different channel that you think is independently run and you are in for a rude awakening.

   So now we see this “Conglomeration” of Financial Stocks in the Dow Jones Industrial Average of 30 key stocks.

   It hasn’t changed – it never will.
9. WheresMyParty September 20th, 2009 at 9:49 am «

   This website does not tell you all the intervention by The US Justice Department, but it gives you a flavor of just how many companies and different products ITT controlled.

   http://www.itt.com/about/history/

   Think of today’s Stock Market and all the various Monopolies that exist – yes, today!!
10. therealhellkitty September 20th, 2009 at 2:19 pm «

    I read somewhere recently that the healthcare industry is exempt from anti-trust laws but can’t find the citation. Do any of you fellow pups know it this is in fact true?
• dakine01 September 20th, 2009 at 2:34 pm «

  Senator Leahy filed a bill this week to remove the anti-trust exemptions enjoyed by the Insurance industry. Puts them between the rock and the hard place as it is not a topic that lends itself to astro turf.
11. WheresMyParty September 20th, 2009 at 5:06 pm «

    Don’t know if this helps with The Health Care Industry and Anti-Trust laws

    http://www.abanet.org/dch/comm…..m=AT301000