WALL STREET'S STORMY WEEK | WHAT REALLY HAPPENED


WALL STREET'S STORMY WEEK

There are so many story lines here that it's hard to know where to start, so I'll begin at 7 a.m. yesterday.

That's when, despite sharp declines in stock futures markets overnight, someone in New York vigorously and valiantly began buying Standard & Poor's futures contracts.

When that buying was completed, the S&P futures had rallied about 13 points - cutting overnight losses by a third.

Stock prices were cushioned when the market opened for trading yesterday.

Readers already know my take on this: someone with an untraceable link to Washington keeps the markets in line whenever they seem to be straying.

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