Excerpt:
By giving confidential information to a roomful of traders, Paulson had to understand he’d influence the price of Fannie and Freddie stock and, by extension, the whole market.
He’d also be giving the people receiving that information a chance to cheat — to rob public investors who weren’t lucky enough to be invited to such meetings.
And that brings me to last week.
According to other journalists’ reports, the Federal Reserve voted on Monday, Nov. 28, to approve a financial bailout for Europe using our dollars. That’s the same day that the stock market staged a strong rally, which turned out to be only a preliminary event to the 400-plus point surge the Dow would have two days later — after the rest of us found out about the European bailout.
Was it just a coincidence that the stock market rallied nicely on the day of the Fed vote? Or was information from that Fed’s Open Market Committee leaked by someone to friends on Wall Street?
Only a few people know what happened on Nov. 28.
But this much I do know: Whatever games are being played between Washington and Wall Street must stop, or the American capital markets will cease functioning. Nobody with any sense will participate in a market that’s controlled by greedy people looking out only for themselves.
The second thing I know: Journalists need to start doing their job in rooting out corruption like this.
Full article: The fix was in: a scoop confirmed – NYPOST.com.
Pic via Jr. Deputy Accountant
