WALL STREET JOURNAL "BAFFLED" BY MARKET DROP;
THERE'S AN INFORMATION CRISIS INSIDE THE CRISIS
How Can We Find The Truth about Tanking Markets?
By Danny Schechter
Director, Plunder The Crime Of Our Time
The Wall Street Journal headline on the day after we almost lost the market reported that the wise men on the Street were "baffled" by the big drop Thursday. The Financial Times called the event "Shambolic" as if only a shaman can decode it.
A week after CNBC assured its high net worth viewers that Greece would no longer be a problem, there was an uprising there followed by a volcanic market cliff dive that the White House, NASDQ and every regulator is now investigating.
There is still a lot of head scratching, as if to say, how come our casino went batty? It all happened in a couple of minutes, the time it took for that fail-safe state of the a top of the line, secure, and unsinkable oil platform to sink.
The whole world of finance couldn't believe what was happening before its eyes and so quickly.
2:38 PM: Dow down 360
2:48 PM: Dow down 600
2:51 PM: Dow down 900
Help.! We still don't know how the plunge was arrested. I am sure the Treasury Department's Plunge Protection Team and the Fed and every Central Bank in the world hit their red buttons to pump more money in before the balloon popped.
You are not going to believe it but no one really knows what happened yet. Should we blame a trader who made a typo or were there others playing a shadier and covert game of market manipulation which may soon officially be listed as a psychiatric condition?