VIDEO: Market continues to be propped up by government intervention and manipulation


Posted by Tyler Durden at 9:33 AM

Amusing to see the biggest propaganda voice for the administration and General Electric let this one slip.

At 2:22 in the video below, Larry Levin discloses the truth about
 .

http://zerohedge.blogspot.com/2009/06/cnbc-this-market-continues-to-be.html   

go 2 minutes into the video 

Larry Levin  “….this market continues to be propped up by government intervention and manipulation and unfortunately as that continues to happen this market can go highrer the government has been doing a good job of keeping it that way no matter what the real underlying current is. …(Questio CNBC: What about the second half?)
Levin: “If the government can keep putting out all these IOUs and printing money, I guess not. Many professional traders would have told you that this market should not continue to move up as it has; move up 4 months in a row basically months ago,  … You’re gonna have to pin it on Obama and his staff that they’ve kept this market propped up the way they have……They’re doing a good job  Every single day we have some backstop from the government These are NOT free markets anymore. ”

Wilbur Ross (fund manager) we’re facing an environment where Washington is the new Wall Street. It seems like no capital transactions get doe at all without some kind of  intervention from washington. And it makes me wonder; How do we ever get off those vitamin pills?…all we are doing is transferring liabilities from private to public sectors.

Larry Levin is a professional futures trader.  He has been in and around the S&P 500 futures pit at the largest futures exchange in the world; the Chicago Mercantile Exchange (CME), for almost 20 years  author Secrets of traders

http://zerohedge.blogspot.com/2009/06/cnbc-this-market-continues-to-be.html

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