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Steve Liesman Takes Credit For Rally, But What About Today’s Sell Off? Watch This…

September 27, 2011 4:33 pm

Steve Liesman is so happy that Monday’s 2pm rally was from his breaking news. He revealed a “detailed plan” which is supposedly in the works to save Europe’s from financial collapse. The source is cited as a “high up official” that cannot be named.

Today, Mr. Liesman has been tickled that some of the hosts have even named it the Liesman Rally. We wondered if news came out to contradict the report, if Mr. Liesman would take credit for the sell-off.

Watch the video below and then read the important denial/ announcement from the EIB today.

EIB maintains “no bailout” stance
Date: 27 September 2011

There have been media reports about a potential involvement of the EIB in a special purpose vehicle in connection with the EFSF, for the purpose of bailouts.

The EIB has not been approached and has no plans to be involved in this. The EIB will continue to focus on its mission which is financing viable investment projects.

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Written by Andrew Horowitz · Category(s) Economy, Markets    |  Tags: •   

5 Responses to “Steve Liesman Takes Credit For Rally, But What About Today’s Sell Off? Watch This…”

  1. Max on September 27th, 2011 6:28 pm

    How does this help Greece pay back its debts? It doesnt.

    Backstop Greece, and they relax their austerity measures.

  2. TG38 on September 27th, 2011 7:35 pm

    Did you wonder why a European official gave the details of the grand plan to Leisman and not a European journalist? He got it because he is Treasury's shill. ( Andrew Ross sorkin says it in his book)That was not a European plan. It was Treasury's. They can now say "see the market loves this idea. Why aren't you doing it?" that's why Germany was so mad at the US today as per the telegraph article. there is no plan from Europe. What we heard yesterday was the American plan that was already rejected.

  3. James on September 27th, 2011 9:43 pm

    TG38 – correct. In "Too Big Too Fail" it's revealed that treasury refers to him as "The Professor" and was a useful tool to leak information they wanted leaked for a specific reaction. CNBC is useless.

  4. jadoube on September 27th, 2011 10:33 pm

    wotta joik

  5. Max on September 28th, 2011 9:33 am

    So the rally over the past two days have been based on rumour.
    I'm suprised the market hasn't retreated very much yet.