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Speculative theory
Plunge Protection TeamAtlas
Economy & Corporations · Market manipulation & financial crises
The Plunge Protection Team is a colloquial name for the Working Group on Financial Markets. Some market commentators attribute sudden recoveries after sharp selloffs to covert intervention by a Plunge Protection Team.
Open the casePlunge Protection Team3
- Documented · The nickname Plunge Protection Team is widely used in financial media and online commentary beyond formal government naming of the Working Group.
- Contested · Critics of conspiracy narratives argue that claims of secret ongoing market price support by a Plunge Protection Team mischaracterize the Working Group’s role.
- Contested · Some market commentators attribute sudden recoveries after sharp selloffs to covert intervention by a Plunge Protection Team.
Working Group on Financial Markets3
- Documented · The Plunge Protection Team is a colloquial name for the Working Group on Financial Markets.
- Documented · The Working Group on Financial Markets is described as a White House-linked body intended to help contain severe market free falls and coordinate among top financial regulators.
- Official · The Working Group on Financial Markets was established by Executive Order 12631 following the 1987 stock market crash.
Goldman Sachs1
- Contested · Public discussion has linked major financial firms such as Goldman Sachs to alleged influence over or operation of plunge-protection activity.
Other2
- Documented · By law, only the president can authorize a shutdown of U.S. financial markets, a contingency discussed in connection with extreme market declines.
- Documented · Senior officials including the Treasury secretary have convened or prepared Working Group-related calls with regulators and bankers during major market routs.