Mega Banks Rally After Reaching 1995 Pivot
Just as the world was about to end banks have rallied upward off of the price levels hit last Wednesday. Citigroup, as an example is up about 70%. The media tells us it is because of the "bad bank" plan put forth by the new political team. But, we know better because we said banks were likely near a temporary washout before any announcement or rally.
Isn't it funny how the little game works? This is Wall Street's way of manipulating politicians and public opinion. Dump the banks when President Obama talks about less direct assistance for banks then rally the banks when politicians finally cave to an even bigger bailout for the banksters. It's like a child having a tantrum. They'll manipulate and cajole to drive policy decisions.
Isn't it funny how the little game works? This is Wall Street's way of manipulating politicians and public opinion. Dump the banks when President Obama talks about less direct assistance for banks then rally the banks when politicians finally cave to an even bigger bailout for the banksters. It's like a child having a tantrum. They'll manipulate and cajole to drive policy decisions.
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