Stockman Scott's Political Debate Porch Message Board

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Politics : Stockman Scott's Political Debate Porch

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To: stockman_scott who wrote (4405)	8/13/2002 10:07:14 AM
From: Jim Willie CB	Read Replies (1) of 89467

anyone notice the bold manipulation effort by banks/brokers? Goldman Sux last week does a 180-flip, expects Fed rate cut market rallies shorts cover, naive retail investors join in today Merrill Lynch ups reco to OVERWEIGHT the entire major banking sector and thus ignores the following: - lower rates mean lower margins for loans - a skein of corporate bankruptcies in the $B's each - systemic South American defaults in sovereign debt - derivative bombs lurking throughout the entire landscape ... from stocks, currency, debt, gold - all while the US economy shows wide evidence of slowdown yup, I would say the Houses are trying to keep things propped up I think they are exiting, even as reco's are issued they are desperately attempting to avert a disintegration of JPMorgan and Citibank, from capital requirements to maintain their extreme portfolios, to maintain their extreme derivative contracts the press/media is totally asleep on the job !!! since repeal of Glass Steagal, brokers and bankers and insurance are largely a single business group they are scratching each other's leposy-ridden backs / jim

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