JPMorgan vs. Goldman Sachs: Why the Market Was Down 7 Days in a Row

We are witnessing an epic battle between two banking giants, JPMorgan Chase (Paul Volcker) and Goldman Sachs (Geithner/Summers/Rubin). The bodies left on the battleground could include your pension fund and 401K.

Read the full article here.

3 Responses

  1. Great article Ellen. Well done. It further illustrates what we saw with Bear-Stearns and Lehman Bros.

    Unrestrained and unlimited power always leads to tyranny, and that includes economic power. Warfare hurts everyone involved, and that includes economic warfare… monetary warfare.

    Now that corporations and financial institutions have become larger and more powerful than major governments, the warfare and power struggles between economic titans can be more destructive than were the past wars between cities, states or nations.

    2500 years ago Sun Tzu wrote in his “Art of War” the importance of subtle and deceptive economic strategies warfare. Machiavelli did likewise 400 years ago in “The Prince”, a manual about the shocking duplicities needed for monopolistic rulers (tyrants) to maintain and extend their powers, and crush their enemies or opponents. These philosophies hold for political and economic powers, including the Goldmans and Morgans.

    As the outstanding historian and author of “Tragedy and Hope” said so well:

    “The powers of financial capitalism had another far-reaching aim, nothing less than to create a world system of financial control in private hands able to dominate the political system of each country and the economy of the world as a whole.” – Prof. Carrol Quigley

  2. Hi,
    the problem is real, an enormous number of false orders is generated by fast trading systems.
    They can do this because if I place an order I don’t pay , and I don’t pay for delete it.
    A possible solution is a tax on deleted orders, for example 0.5$ for every deleted intraday order.
    There is a big difference between placed orders an execute ones, so big money in taxes.
    For a little trader , serious big trader and scalper it will have a little impact, for “manipulator” traders it will be a problem.
    Because it increase total costs and everybody can know who manipulate the market: a lot of orders = a lot of taxes = a lot of manipulation.
    Sorry for little English
    Best regards

  3. This is a wonderful opinion. The things mentioned are unanimous and needs to be appreciated by everyone. Thanks.

    Debt Companies

    *******
    Sienna

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