Plunge protection raided FDIC funds drying up.Thanx Dick Cheney (Non Insured Banks-Energy Task Force)
Reply to: comm-669290305@craigslist.org
Date: 2008-05-05, 7:10PM CDT
Posted to politics on austin craigslist
--------------------------------------------------------------------------------
Working Group on Financial Markets
From Wikipedia, the free encyclopedia
(Redirected from Plunge Protection Team)
Jump to: navigation, search
The Working Group on Financial Markets (also, President's Working Group on Financial Markets or the Working Group) was created by Executive Order 12631,[1] signed on March 18, 1988 by United States President Ronald Reagan.
The Group was established explicitly in response to events in the financial markets surrounding October 19, 1987 ("Black Monday") to give recommendations for legislative and private sector solutions for "enhancing the integrity, efficiency, orderliness, and competitiveness of [United States] financial markets and maintaining investor confidence".[1]
As established by Executive Order 12631, the Working Group consists of:
The Secretary of the Treasury, or his designee (as Chairman of the Working Group);
The Chairman of the Board of Governors of the Federal Reserve System, or his designee;
The Chairman of the Securities and Exchange Commission, or his designee; and
The Chairman of the Commodity Futures Trading Commission, or her designee.
Contents [hide]
1 "Plunge Protection Team"
2 Notes
3 See also
4 External links
[edit] "Plunge Protection Team"
One theory regarding the Working Group refers to it as the Plunge Protection Team. This theory claims that the Working Group is a scheme to manipulate U.S. stock markets in the event of a market crash by using government funds to buy stocks, or other instruments such as stock index futures.
The term "Plunge Protection Team" was originally the headline for an article in The Washington Post by staff writer Brett D. Fromson, published on Sunday, February 23, 1997.[2] He did not invent the term. It was added later by a copy desk editor as a sensational nickname for the Working
- Location: Non Insured Banks-Energy Task Force
- it's NOT ok to contact this poster with services or other commercial interests
PostingID: 669290305