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News Link • Economy - Economics USA

NY Post's Crudele: Perhaps Govt Stepped in to Support Stocks

• http://www.moneynews.com, By Dan Weil

"Let me explain about the unknown forces in the market these days," he writes.
 

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"Call it by a nickname — the Plunge Protection Team. Or call it the President's Working Group on Financial Markets, the official name given to the group when it was formed by President Ronald Reagan after the market turbulence of 198[7]," Crudele declares.

"These forces may be working from a script in the 'Doomsday Book,' which the U.S. government recently fought to keep secret when it was brought up last week during the AIG trial in Washington."

So what's the deal with this team? "Someone tried to rescue the market last Wednesday. And it's becoming a regular occurrence," Crudele says.

Robert Heller, a Federal Reserve governor from 1986 to 1989, "proposed . . . a [government] rigging as soon as he left the Fed."

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