Manipulation, Not Error, Behind Market Plunge

by Cliff Kincaid - May 7th, 2010 - Accuracy In Media

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.

The name to remember from this article is the Managed Funds Association (MFA). This group, representing manipulators like George Soros, has taken advantage of the current ignorant rules of investing that have allowed short sellers to sabotage the concept of investing to fund our free enterprise economy. Wall Street used to have value when it funded business. Today it is simply a fraudulent gambling enterprise.

We used to have rules against corrupt practices blocked by the uptick rule and required circuit breakers and trading curbs to prohibit manipulation. However these safeguards have all been repealed. The resulting manipulation is the process behind the new term "crony capitalism". That has become the technique by which pro-socialist forces are destroying our nation's economy.

It is the same process by which Soros and his cronies manipulated our economy and suckered the naive George W. Bush into supporting the stupid bailouts of 2008. We need some Republicans who are not ignorant of business and investing to alter their current naive support for Wall Street. It really ought to be clear to gullible Republican leadership that Wall Street is not giving most of their campaign contributions to Democrats because they think Democrats support capitalism.

Wall Street has become a scam.