Shah Gilani

Bank of America (NYSE: BAC): Someone from This Fraud Machine Needs to Go to Jail

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Last week Bank of America (BofA) got slammed by the Consumer Financial Protection Bureau for fraudulent marketing and sales of “add-on” products.

The CFPB found that they had ripped off credit card customers by selling them identity theft protection and credit protection programs, without ever actually providing much of anything.

Read all about BofA’s shady marketing practices… the other banks that have also engaged in fraud…

The post Bank of America (NYSE: BAC): Someone from This Fraud Machine Needs to Go to Jail appeared first on Money Morning – Only the News You Can Profit From.

The Real Reason the Stock Market Is Rigged

Everyone’s talking about Michael Lewis’ latest book Flash Boys and HFT (high-frequency trading) and whether the markets are rigged.

What they’re not talking about is how the markets have been set up for institutionalized rigging.

I’m not kidding.

The markets are rigged. You’re going to have to get over it and deal with it.

High-Frequency Trading: Game the System and Get Rich in Just 8 Simple Steps

I don’t know about you, but I’m ordering Michael Lewis’ new book “Flash Boys: A Wall Street Revolt” - and I’m ordering it today.

Of course, Michael Lewis is the author of two of the biggest-selling books ever written about Wall Street: “Liar’s Poker” (1990), an autobiographical portrait of excessively greedy bond traders during the 1980s, and “The Big Short: Inside the Doomsday Machine” (2010), which chronicles the housing bubble that led to the Great Recession in 2007.

The post High-Frequency Trading: Game the System and Get Rich in Just 8 Simple Steps appeared first on Money Morning – Only the News You Can Profit From.