Hedge Funds, Politics, and the Market Crash
Tuesday, February 3, 2009 : PermalinkAmerican Thinker – There are several culprits in the recent market crash, but one key source of the problem has hitherto escaped attention: an economic index that can be easily manipulated by hedge funds and whose gyrations have shaken the foundation of Wall Street: the ABX index, launched in 2007 by the Markit Group, a London-based company that specializes in credit derivative pricing and that administers the index.
The collapse in the American stock markets was a calamity for the campaign of John McCain. In September, McCain was running strongly against Barack Obama. Some polls had him leading Barack Obama by 3 percent before the market broke. By October 7th, Obama had taken the lead across America. What changed in one month? The trigger was the market crash. Who pulled the trigger and why? Who benefited?
Tags: abx index, american stock markets, american-thinker, barack obama, calamity, collapse, culprits, economic-index, john-mccain, london, market crash, markit-group, polls, wall street
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