Yeah, that Wells Fargo drama. It's beyond ridiculous that the
exec in charge is walking away with $100M+ and Wells Fargo (backed
by Warren Buffet...) basically said, "We're not doing anything
about it. It's up to the Board. We'll let you know how that goes,
kthxbye." So they're responsible for culture and performance to be
getting 9 figure sums, but not responsible enough to actually know
what's going on in their department? Give me a break.
Have you seen the show Braindead on CBS? It just finished airing
season 1, and that's very funny. Space bugs have infected the
brains of politicians in DC and the show has good fun with that. As
they said about one character, "He's infected too?", "No, he
actually thinks he's doing a good job."
Re the Fed, since their forecasting is always off by being too
optimistic, there's a constant Fed Put in play in that they will
always be more dovish than they say, which is already like a huge
flock of doves, because they will always have to do more to try and
meet their goals. And that's the meth the market is hooked on.
Sure, it'll probably kill everyone later, but that's always the
next guys or gals problem, right? And just like addicts in real
life can't focus on anything other than getting their next hit, the
market doesn't care about low growth or earnings or valuations.
Where and when is the next hit? That's all. I so very rarely agree
with Trump, but he's right that Yellen and co should be
ashamed.
