From an anonymous trader/investor:
CNBC Video Clip Denying Existence of Plunge Protection Team (aka President’s Working Group on Financial Markets:
The link below contains the CNBC video clip and GATA discussion wherein the CNBC crew are AMAZED to learn about market intervention by the PPT of the S&P futures or that such a group and its activities even exists. MSM at its best in trying to suppress the truth.
Well, well, well … it’s early morning and a guest on CNBC’s Squawk Box blurted out in vociferous fashion about how The Working Group on Financial Markets, or the Plunge Protection Team, has been active in the S&P futures markets … most notably on October 10 and 24. He mentioned that late market action in which the S&P rose 100 points from low to high for no apparent reason, and that the US Government was in no mood to let the markets close for the weekend(s) in a near state of panic.
The guest, Scott Nations, President of Fortress Trading, refused to back down. Bet you won’t be seeing him back anytime soon.
UPDATE DECEMBER 10, 2008
BR adds: It turns out that Scott Nations has been a regular on Squawk for the past few weeks. So much for that theory.