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Bank Job Cuts, Wall Street Bonuses and Fed Policy: Good Examples of False Recovery

Jim88 Wrote: Feb 28, 2013 11:04 AM
Its a fake market proped up by the federal reserve, without the federal reserve we would have a real market and it would look much different than it does today.

The Wall Street Journal of Feb. 27 tells the story in its own headlines. On page C1, the story was, "JPMorgan Pulls Belt Tight," while on C3 the headline read, "Wall Street's Bonus Pool Hits $20 Billion." If that doesn't describe this crazy false recovery we are allegedly undergoing, nothing does.

Of course, the picky can point out that JPMorgan Chase is tightening its belt on its banking side and the Wall Street bonus increases are paid to traders, investment bankers and other employees of securities firms. But to the average Joe, it's hard to understand, if the JPMorgan...