Who is the PPT? The Plunge Protection Team is the folks set up by a Presidential Exucutive order called "The Working Group". It consists of the Secretary of the Treasury and Chairmen of the Federal Reserve, the Securities and Exchange Commission, and the Commodity Futures Trading Commission,and they creatively examine system-wide issues across the legalistic and jurisdictional divides that normally separate one regulator's thinking from another's and control the markets to the best interest of the public. Some of us disagree about their tactics but most have little doubt that they are there. Like most government plans they'll screw things up or, in my opinion, they already have.
Joe
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