thursday trickery, page-154

Farsight, maybe the big banks have got their trading room synchronised! This is what George Stephanopoulos, Clinton's senior adviser on policy and strategy, said on ABC's "Good Morning America" on Sept. 17, 2001 - the day the stock market reopened after being shut for nearly a week because of the 9/11 terrorist attacks. He is referring to the ppt.

"I don't know if you remember, but in 1998, there was a crisis called the Long Term Capital crisis. At the guidance of the Fed, all of the banks got together when that started to collapse and propped up the currency markets. And they have plans in place to consider that, if the stock markets start to fall."

Sounds familiar!
The most important line is the one about the:- "informal agreement among major banks to come in and start to buy stock if there appears to be a problem."