>>One might even argue that they're doing this less to prop the markets than for good old-fashioned profits.<<
I generally agree that the big money banks have a profit motive. But, they always had that in mind- it's only natural in a free market. The differences I see now is the extent of the interventions. I think the banks now see it more in the interest of their long term survival. If it was more a profit motive I don't think we would see the actions like MLsoft alluded to yesterday. There is not as much profit in a market that goes straight up or straight down as we see many times. These folks would not continue to buy at the daily highs or and small dips. It's the Fed that is orchestrating this action and the money banks are only too willing to play along as the the Fed "funds" the shenangans. While being a partner in this scheme, of cousre the big money has first knowledge of when to jump in or fade out. That's wjhat makes it profitable. Being profitable it what makes this shell game work IMO.
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