Rigged-Market Theory Scores a Perfect Quarter
Become a member: Subscribe
NTS Headlines
Headlines by Category
Headlines by Year
Solari’s Building Wealth materials are organized to inspire and support your personal strategic and financial planning.
Building Wealth
This 6-pillar curriculum teaches the basic literacy we need to be personally and financially successful and to do so in a manner in which together we evolve a culture that supports the emergence of an advanced human civilization.
Missing Money
Articles and video discussions of the $21 Trillion dollars missing from the U.S. government
Connect with the wider network of like-minded Solari subscribers using our in-house social media platform, Solari Connect.
No posts
Rigged-Market Theory Scores a Perfect Quarter
By Jonathan Weil
Score another triumph for the rigged- market theory.
In a feat that would seem to defy the odds, Goldman Sachs, JPMorgan Chase and Bank of America this week each said its trading desk made money every day of the first quarter. Goldman said its daily net trading revenue topped $100 million 35 times last quarter out of 63 trading days. JPMorgan and Bank of America disclosed similar eye-popping stats. Citigroup, too, recorded a profit on each trading day, Bloomberg News reported, citing unnamed people who knew the results.
The intrigue is high. If a too-big-to-fail bank’s traders were able to make money every day of a quarter, were they really trading in any normal sense of the word? Or would vacuuming be a more accurate term? What kinds of risks do such incredible profits entail, for the banks and the rest of us taxpayers? And are results such as these too good to be true?
Continue reading Rigged-Market Theory Scores a Perfect Quarter: Jonathan Weil
