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Meanwhile, Inside The Plunge Protection Team: Chaos

Zero Hedge – by Tyler Durden

It was almost ten years ago that we first profiled the most important trading desk in the world: not one situated in any of the (increasingly empty) massive trading floors of the world’s commercial banks located in either the financial district, midtown or Connecticut, but the one inside the 9th floor of 33 Liberty Street, the home New York Fed, the one which is also known in trader folklore as the “Plunge Protection Team.”  

This is what we said back then:

Mr. Sack, 39 years old, is an economist who runs the markets group at the Federal Reserve Bank of New York. The group runs the Fed’s trading, making it the bridge between the marble corridors of the Federal Reserve in Washington and the bustling trading floors of Wall Street.

Read the rest here: https://www.zerohedge.com/news/2019-08-04/meanwhile-inside-plunge-protection-team-chaos

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