Davidson marshals significant arguments and evidence to support this allegation. Readers may want to request this issue of his newsletter and reach their own conclusions. That this would be criminal and illegal conduct would, of course, be of no consequence to this Administration - but this does not prove that they have done it. Those who trade significant amounts of stocks should look into this possibility because, if true, it would markedly degrade the usual trading indicators.

Regardless of questions of legality and morality, the existence of such an enormous player in the markets (one whose interests do not respond to the usual profit and loss incentives) would be very disruptive. Perhaps this will be Clinton's last gift to his trial lawyer benefactors. Imagine the investor lawsuits that would inundate federal courts from people who lost money because of federal market manipulation.