The "Smart Money"?!

 

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[Painting the tape]

Be Honest CNBC - You Are Biased Against Ron Paul

With this stated up front, it was brought to my attention that CNBC was running a poll asking readers who they thought won the recent Republican Presidential Debates in Michigan. Now, as in many polls in 2008, the name “Ron Paul” has been rising to the top of the charts in 2011 despite all efforts by media lapdogs to dissuade the public from even considering such a candidate. CNBC did not fail to play its roll this time around either. Ron Paul won by a substantial margin, and of course, their response was to take the poll down! Here was the explanation given by CNBC Managing Editor and all around bottom feeder, Allen Wastler:

Gamed Poll...So We Took It Down

We had a poll up from our Republican Presidential Debate asking readers who they thought won. One candidate was leading by such a margin that it became obvious the polling wasn't so much a reading of our audience, but of the Internet prowess of this particular candidate's political organization. We have therefore taken the poll down.

http://www.zerohedge.com/news/guest-post-be-honest-cnbc-you-are-biased-against-ron-paul?

[Dumb money]

It's Official: Wall Street Firms May Legally Steal From Their Customers

...and they may not have to pay them back.

“This means they can take segregated funds and leverage them to kingdom come. It means nothing is safe.”

Andy Abraham

If you have a commodity account with Wall Street, they may gamble with your money, the rule on segregated accounts be damned. If they lose the money you might be reimbursed, or not. The losses may have to be 'socialized.'

In a way it is just making the general relationship between Wall Street and its customers official.
MF Global May Have Used Customer Funds In The Losing $6.3 Billion Trade Without Informing Clients
By Robert Lenzner

After an intense day of investigation, I have just discovered that a CFTC rule (1.29) allowed Jon Corzine’s MF Global to use the margin and cash in customers heretofore segregated accounts to amass a risky $6.3 billion investment in European sovereign debt that backfired. Nor did Corzine have the obligation to inform any of these customers he was gambling with their money. Or that he was intending to keep all the profits for himself and his troubled firm. Nothing for the customers.

http://jessescrossroadscafe.blogspot.com/2011/11/its-official-wall-street.html

[roger]

While foolish money keeps it's eyes on Europe
and moralist concentrate on corrupted individuals....
Events keep on a rolling...rolling,yip-pie ya aye,,,
Alabama's Jefferson County filed for bankruptcy court protection on Wednesday in the biggest municipal bankruptcy in U.S. history.

[Don Levit]

The S&P index is lower today than it was 10 years ago.
However, if you had invested in an annuity linked to the index, you would have gained about 6% a year.
So much for the buy and hold strategy.
Don Levit