The present “market” environment is great for the bailed out institutions given the fact that they are now “banks” with access to the Federal Reserve window for bags of very inexpensive money dump it on the trading desks and we are off to the races. The “banks” are earning huge sums via their trading desk versus the laborious and nominal margins associated with lending money, as that is “old school”.
This environment is also most conducive to the journalism majors turned financial pundits at CNBC. They have no programming challenges as the market (like home values) will go up forever so they can confidently parade around bulls as though they were televising a cattle auction.
One day (assuming the SEC leaves the cave after years of hibernation) the Red Bull/Cheetos gang will move on and the market might actually be deemed transparent and played on a level field. Be very careful of this world investors, when the formula experiences a glitch, the high frequency carnival leaves town and all that remains is an ominous flushing sound. During the interim, the machine wants you to feel good when you open that statement however it is simply an interim illusion.
Old School Equity Market