[iwwr]

The 1% are hardly representative of the true 'ruling elite'. This group is probably around a few hundred people, no more than a few thousand. Wall Street is also not the center of power, but rather Washington DC and the Federal Reserve.

[sambeau]

To quote a recent trader:

  "Governments don't rule the world; Goldman Sachs rules the world"

If you need any more explanation, ponder this question:

  Who is the national debt owed to?

Hint: it's not China

[maigret]

A trader? This guy was proved to be a joke. http://www.businessinsider.com/turns-out-the-trader-who-scar...

[sambeau]

Clearly he wasn't much of a trader.

I did read another article where they interviews other traders about what he had said. While they disagreed with some of his other points they were in general agreement about that one.

[kokey]

Goldman Sachs is expected to report a loss at the next results, seems like ruling the world doesn't guarantee profits ;-)

It's true that day traders don't care if the market is going up or down, just like many specialists focusing on their domain doesn't care that much about the industry that employs them. Some people make money on volatility (day traders), but a lot of others make their money on trading on certainty (pension funds). Some people have a vested interest in seeing certain markets crash, e.g. if your industry struggles because of materials are getting expensive because of high demand from the building industry.

[mgunes]

The support from the portion of the 1% who may not exactly be the "ruling elite" in your particular sense of the term is also worth noting:

http://westandwiththe99percent.tumblr.com/