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Forum Post: anyone have any wallstreet info?

Posted 2 years ago on Feb. 19, 2012, 5:48 p.m. EST by richardkentgates (3269)
This content is user submitted and not an official statement

seems wallstreet is doing really well. This doesn't add up. Purchasing is down, jobs are still down, wages are still down, stores are still closing and foreclosures on the rise again. How is wallstreet showing a profit and does anyone have info on the fraud being used to show such profits?

7 Comments

7 Comments


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[-] 2 points by infonomics (393) 2 years ago

Very appropriate question you ask. As a long-time CPA/auditor I can tell you with confidence that we certainly cannot rely upon the auditors to detect the scams. However, we can focus on one phenomenon that may be a harbinger of malfeasance-in-progress: the payment of large performance bonuses. Why you may ask? Because the performance of the company may be the results of a contrivance like the housing crisis or an aggressive accounting evaluation or both. Regardless, the objective of the ruse is to get the bonuses in the hands of the CEO perpetrator before the scam is detected.

[-] 2 points by incomeforall (64) 2 years ago

All that stimulus cash is still bouncing around, it has to go somewhere to keep it out of the poor people's hands. So Goldman and Morgan buy bargain priced stocks with it and it drives the market up. Your tax dollars at work!

Also, using the stimulus cash to keep the market up entices retail investors back into the market (the big boys call them shoe clerk investors, isn't that cute?) so when it crashes again they can take their cash again.

[-] 1 points by richardkentgates (3269) 2 years ago

of all things, all that money missing from MF and now the investigation is dead and looks like they aren't even going to continue it. No accountability.

[-] 1 points by jrhirsch (4714) from Sun City, CA 2 years ago

The NY stock exchange is made up of the mid to upper class companies. Poorer companies which make up a large part of the economy are not listed. Just like the economic stratafication we see among people. If we look at just the upper half, everything looks great.

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[-] 0 points by gosso920 (-24) 2 years ago

Buy low. Sell high. HTH.

[-] 1 points by richardkentgates (3269) 2 years ago

I don't think getting high will help you sell very much :P

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[-] -1 points by JanitorInaDrum (134) 2 years ago

I'd tell you if I were a member of Congress, but, I'd have to sell you the information first.

Even better, check all the portfolio's of our elected servants and those closest to them.