Sep 27, 2008

Gerald Epstein on Ronald Reagan's role in setting up the "Plunge Protection Team"

By March of the following year [1988], President Reagan, an avowed free marketeer, issued the rather curious Executive Order 12631. This Executive Order set up the Working Group on Financial Markets. The Working Group was comprised of the Secretary of the Treasury, the Chairman of the Fed, the Chairman of the Commodity Futures Trading Commission and the Securities and Exchange Commission.

~ Gerald A. Epstein, Financialization and the World Economy (2006), p. 136

No comments: