stackyFACTSIn a textbook case of 'who is supervising these people,' Israel's major banks spent the late 70s and early 80s systematically manipulating their own stock prices.
In a textbook case of 'who is supervising these people,' Israel's major banks spent the late 70s and early 80s systematically manipulating their own stock prices. They essentially advised every retail customer to buy bank shares while secretly propping up the price themselves to create an illusion of perpetual growth. When the public panicked and tried to sell in 1983, the entire charade imploded, forcing the government to step in and nationalize almost the entire banking sector.
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