Registered: Jan 2007
04-03-12 01:48 PM
I can't find the link but I think during Pitt or Grasso one of them asked the floor traders to keep the price of some stock up for a day for some reason or another.They managed to do that.
Maybe someone else remembers the stock, I think it was for a buyout.
Imo, I thought that was the classic manipulation rather than the run of the mill big money
Maybe this was it.
"One morning Greenberg wanted to send a message to Grasso as well. AIG was in negotiations to purchase another insurance com_pany, using its stock as currency, so the last thing Greenberg wanted was a falling stock price that would jeopardize the deal."
"She called one of Grasso's assistants and told her to transcribe the following: "Hank Greenberg is not looking for AIG to go under $76.50 or the deal won't go through."