How many of you realize that when Wall Street analysts talk – they are simply selling their inventory to you? You see the ‘top’ analysts paraded out on CNN, MSNBC, FOX etc. and they give their picks. You see the Solomon Smith Barney’s and the Merrill Lynches with their “BUY” and “STRONG BUY” ratings and think… “These guys are just analysts, they have an unbiased opinion.” WRONG!
They are the bird dogs for investment banks and have a HUGE vested interest getting their slant out to investors. They are paid by the investment banks to push these stocks on the public. Most people’s eyes glaze over after the words “analyst,” “investment bank,” and “brokers” are thrown about… but let me boil it down.
When someone gets on television/radio/etc. and says that a stock is a good buy… do NOT believe it. They are selling stocks that will profit THEM! This basic flaw in our stock market system… ALL of it is controlled by the investment banks. THESE are the guys that not only caused the stock market bubble, but raped it for all the cash and then allowed it to burst.
Oh yeah, and these are also the guys that just pushed through legislation making personal bankruptcies much more difficult on the average person. Grandma was right when she said to keep your money in the mattress… if they can’t touch our money, they can’t keep using it to rape us.
KNOW YOUR ENEMY!!!
Top Ten Investment Banks
1. Morgan Stanley
2. Goldman Sachs & Co.
3. Credit Suisse First Boston
4. Robertson Stephens
5. Merrill Lynch
7. J.P. Morgan & Co.
8. Lehman Brothers
9. Salomon Smith Barney
10. Paine Webber
PS – Another little move by these guys that nobody noticed – Alan Greenspan pushed Congress to repeal a law from the 30’s which prohibited banks from selling securities. He opened the door for investment banks to do up to 25% of their business in securities. The 1929 market crash was the onus for the law in the first place and removing it opened the door for the next big crash. It allowed the foxes right back into the hen house.
The Fed (Greenspan) went even further. They gave the newly formed Citigroup a 2-year exemption on any securities trading restriction during the Clinton administration with the understanding that if the original 1930’s law was repealed in that time, they would be free to do what they wanted. Sure enough, in 1999 the original law was repealed by Congress giving the foxes not only full access to the hen house, but allowing them to steal the barbeque sauce from the average American.
And I bet the majority of you reading this have never heard of ANY of these laws… still think the media reports what we need to hear? Don’t forget these banks own the media too.
The sad thing is that probably only 1 out of 1,000 people will bother to read this far down and educate themselves about this or any of the things that affect their lives one hell of a lot more than “Friends” reruns or “That 70’s Show.”