Hmmmm. "Plunge Protection" Already?

There has been a "Plunge Protection" team since the late 1980's, the purpose of which was to shore up the equities markets for political purposes.

Looks like there may be a reunion of the Old Boys' Club.

U.S. President Donald Trump’s Treasury secretary called top U.S. bankers on Sunday amid an ongoing rout on Wall Street and made plans to convene a group of officials known as the “Plunge Protection Team.”

...The Treasury said in a statement that Mnuchin talked with the chief executives of Bank of America (BAC.N), Citi (C.N), Goldman Sachs (GS.N), JP Morgan Chase (JPM.N), Morgan Stanley (MS.N) and Wells Fargo (WFC.N). 

“The CEOs confirmed that they have ample liquidity available for lending,” the Treasury said.
Mnuchin “also confirmed that they have not experienced any clearance or margin issues and that the markets continue to function properly,” the Treasury said....

The indexes are down, yes....but that stuff happens.

Not sure I like what I see here.....