Closed Putnam Money Market account used by rich to rob middle class

[LeftHander]

The stock market slide forced many fund managers to divest in stocks to slow the decline, they moved large percentages of money away from the stock market. Now evidence Putnam closing a 15 Billion dollar money market fund yesterday shortly before the fed announced plans for debt buyout. Shortly after heavy buying started while the market was nearly 30% off the year.

This was market manipulation by the same folks that gave us high oil futures and over the top gasoline prices in July.

That money no doubt went directly into the stock market and accounted for a large volume of selling.

Again...this is a coordinated effort, collusion and conspiracy to rob the middle class of 100s of billions of retirement savings.

We have been boondoggled. A handful of people working together with large amounts of money have set the economy to look like near collapse. On news the fed was ready "rescue" us from certain soup lines....the hidden wealth held by the super rich comes roaring out of the closet.

A massive shift on wealth has just occurred.

[flamingdem]

1. Are you sure about that?

I don't think anyone lost money they just liquidated the fund and paid those who were withdrawing. It's a money market not a mutual fund so there were no losses. It was still $1 to $1 and people should get that all back unlike stock owners of AIG or Lehman

[LeftHander]

2. The closed the fund so the money could used to generate profit.

Because the largest investors wanted to use the money to buy stocks.

The fund required a 10 million entry initial investment....not many can play at that level.

the wealthy wanted to buy, buy, buy...and access to as much money as possible was the play.