You’ll Love This Politician’s Quip on Wall Street

During last night’s Democratic debate, presidential hopeful Bernie Sanders(I-VT) defined Wall Street’s business model as a ‘fraud ripe for revolution.’
We couldn’t agree more.
In fact, Money Morning Capital Wave Strategist Shah Gilani has long pointed out the government’s cozy relationship with big banks…
On the government’s dismissal of Bank of America Corp.’s (NYSE: BAC) valuation miscalculations in May 2014: ‘I’m feeling the warm west wind, otherwise known as that constant flow of blathering Bullshirt from the Fed and bank CEOs that everything is irie, mon, and I’m lovin’ it. ‘Like I said, I’m going to sleep well again tonight. Not because I’m short and shorting more bubblicious stuff every day, but because there ain’t no reason to stress a few missed billions in losses or botched stress tests.’ On the Volcker Rule that supposedly bans banks from making hazardous and speculative trades:

This post was published at Wall Street Examiner by Money Morning Staff Reports ‘ February 5, 2016.