Manipulation: Goldman Sach's Made $100 Million 35 Times Last Quarter

The financial world is starting to wake up to this rigged system, but can do nothing about it. The manipulators collude with high level regulators, the Treasury and the FED. It is also doubtful that a controlled Congress and judiciary will do anything to stop it. Predictably, even the new Supreme Court nominee, Elena Kagan, has a history of playing along with establishment powers, both financial and political. That’s why she is being groomed for the high court.

Addressing the growing outrage. Jonathan Weil of Bloomberg comments on the obscene profits the big banks are reaping from this rigged system: "Score another triumph for the rigged- market theory. In a feat that would seem to defy the odds, Goldman Sachs, JPMorgan Chase and Bank of America this week each said its trading desk made money every day of the first quarter. Goldman said its daily net trading revenue topped $100 million 35 times last quarter out of 63 trading days. JPMorgan and Bank of America disclosed similar eye-popping stats. Citigroup, too, recorded a profit on each trading day, Bloomberg News reported, citing unnamed people who knew the results.

"The intrigue is high. If a too-big-to-fail bank’s traders were able to make money every day of a quarter, were they really trading in any normal sense of the word? Or would vacuuming be a more accurate term? What kinds of risks do such incredible profits entail, for the banks and the rest of us taxpayers? [no risks at all] And are results such as these too good to be true? There seems to be no satisfying way to answer those questions, or even the more basic inquiry: How exactly do these banks’ trading divisions make money? Reading the companies’ impenetrable financial reports is of little help. However they did it, the data suggest it was as easy last quarter as hitting the side of a barn with a baseball from three feet away. This isn’t the way ‘trading’ works in the real world. A simple exercise in measuring probabilities is instructive here.

Cliff Kincaid covered how last week’s 1000 point drop in the stock market was manipulated. "The major media say the chaos on Wall Street was the result of a ‘trader error, possibly a typo,’ as the Washington Post put it. Some reports claim the culprit was a ‘fat finger’ on a computer somewhere that pressed the wrong key. But Zubi Diamond, author of the Wizards of Wall Street, says these claims are all lies. ‘What happened in the market on Thursday is a typical example of pure market manipulation’ by unregulated hedge fund short sellers.

"His book warns that the same hedge fund short sellers were behind the financial crash of 2008 that paved the way for Obama’s election to the presidency [that conspiracy was owing to powers even higher than money]. Diamond says the historic market plunge on Thursday was ‘due to computerized hedge fund short selling because there is no protection for the invested capital in the equity markets. 

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