There is just too much information coming out of Europe in order for the human brain to focus on other important news. The Corzine event today, which is actually a very big event, drowns and disappears in the Euromezz news flow. The other important news that got some attention last week, was Hank Paulson’s information to a small number of people with big pockets. Irrespective if one thinks this is borderline information, at least morally, there is a bigger story to it, namely the markets are increasingly influenced by politicians,central planners (and HFT Algos). The combination of the above, might just make people sick of the rigged markets, and they’ll leave it. NY Post reports;
Among his regular phone buds was Lloyd Blankfein, who, for example, spoke six times with Paulson on Sept. 18, 2008. That was a day of great market turmoil and — while there is no way of knowing what the two men spoke about — the calls did coincide with a major turnaround in stock prices.
That was just one example.
and further we go
the US markets are rigged, with the elite and connected getting a distinct unfair advantage over the rest of us schlumps.