Its inconceivable to me that they are not manipulating the market. The government manipulates, controls or regulates everything else so it would be a lone exception for them to not want to manipulate stocks.
In my opinion the Plunge Protection Team may have started out to deal with crisis situations to prevent market meltdowns. However, this concept became a slippery slope and over time it morphed into manipulating markets for political reasons.
Like a lot of other forms of manipulation, those who do it convince themselves its the right thing to do and refuse to acknowledge the insidious unwanted side effects and perversions of original intent.
I couldn’t agree more. Although I will say at this point I don’t see it as the beneficence of those feeling they are doing the right thing. I think we are looking at the machine propping up the Marxists and Obama hoping to elect the successor (Hillary) to finish the socialist conversion.