1. Markets clearly confirm that a top is in the making as we have entered a distribution pattern combined with sector rotation. Some people are apparently unloading as they sell any rally attempt now for 3 weeks. It makes sense from 2 angles as there will be no QE3 and only limited time left for QE2 -well and if you have to unload multi billions you better get started as now one will wait for end of June. With the BOE admitting that we have inflationary matters to deal with and the commodity correction is a brutal event for some hedge funds the retail investor does not get the benefits as usual as the lower prices are not passed on. Although crude tumbled almost 20% and Gasoline futures close to 15% the retail price just came back 2-3 % hence the inflationary pressures stay on.
The pressure on the FED but they do not care as their sole purpose is to deliver free profits for the banks, who are the owners – it is not a federal institution.
After stealing, cheating and lying no Goldman has been put before a judge as Taibbi puts it rightfully in the article below – instead the have their man heading the NY Fed ( Dudley) – well Geithner and Benrnanke belong to their entourage anyway as Goldman and soros are part of the execution arm of the rothschild /Rockefeller web. Finally they manged to put their man also into the ECB as Draghi takes over in November.
“The People Vs. Goldman Sachs” – Taibbi’s Magnum Opus
Submitted by Tyler Durden on 05/11/2011 15:57 -0400
By Matt Taibbi in Rolling Stone Magazine
The People vs. Goldman Sachs
They weren’t murderers or anything; they had merely stolen more money than most people can rationally conceive of, from their own customers, in a few blinks of an eye. But then they went one step further. They came to Washington, took an oath before Congress, and lied about it.
Thanks to an extraordinary investigative effort by a Senate subcommittee that unilaterally decided to take up the burden the criminal justice system has repeatedly refused to shoulder, we now know exactly what Goldman Sachs executives like Lloyd Blankfein and Daniel Sparks lied about. We know exactly how they and other top Goldman executives, including David Viniar and Thomas Montag, defrauded their clients. America has been waiting for a case to bring against Wall Street. Here it is, and the evidence has been gift-wrapped and left at the doorstep of federal prosecutors, evidence that doesn’t leave much doubt: Goldman Sachs should stand trial.
The great and powerful Oz of Wall Street was not the only target of Wall Street and the Financial Crisis: Anatomy of a Financial Collapse, the 650-page report just released by the Senate Subcommittee on Investigations, chaired by Democrat Carl Levin of Michigan, alongside Republican Tom Coburn of Oklahoma. Their unusually scathing bipartisan report also includes case studies of Washington Mutual and Deutsche Bank, providing a panoramic portrait of a bubble era that produced the most destructive crime spree in our history — “a million fraud cases a year” is how one former regulator puts it. But the mountain of evidence collected against Goldman by Levin’s small, 15-desk office of investigators — details of gross, baldfaced fraud delivered up in such quantities as to almost serve as a kind of sarcastic challenge to the curiously impassive Justice Department — stands as the most important symbol of Wall Street’s aristocratic impunity and prosecutorial immunity produced since the crash of 2008.